Citigroup Forecasts Strong Price Appreciation for Roblox (NYSE:RBLX) Stock

Roblox (NYSE:RBLX) had its price objective hoisted by analysts at Citigroup from $63.00 to $82.00 in a research note issued to investors on Monday,Benzinga reports. The firm currently has a “buy” rating on the stock. Citigroup’s target price would indicate a potential upside of 11.09% from the company’s current price.

Other equities analysts have also recently issued research reports about the stock. Wells Fargo & Company boosted their price target on shares of Roblox from $58.00 to $76.00 and gave the stock an “overweight” rating in a research note on Thursday, January 16th. Roth Mkm increased their target price on Roblox from $54.00 to $70.00 and gave the company a “neutral” rating in a research note on Monday, January 27th. Canaccord Genuity Group lifted their price target on Roblox from $50.00 to $60.00 and gave the stock a “buy” rating in a research note on Friday, November 1st. CICC Research assumed coverage on Roblox in a research report on Tuesday, January 14th. They issued an “outperform” rating for the company. Finally, BMO Capital Markets reaffirmed an “outperform” rating and set a $62.00 target price (up previously from $56.00) on shares of Roblox in a report on Friday, November 1st. Seven investment analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $60.05.

Roblox Stock Up 4.4 %

Shares of NYSE RBLX opened at $73.82 on Monday. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 5.64. The business has a 50-day moving average of $61.26 and a 200-day moving average of $50.15. The firm has a market capitalization of $44.85 billion, a price-to-earnings ratio of -45.01 and a beta of 1.43. Roblox has a 12 month low of $29.55 and a 12 month high of $73.86.

Insider Buying and Selling at Roblox

In other Roblox news, CAO Amy Marie Rawlings sold 6,054 shares of the firm’s stock in a transaction dated Wednesday, November 20th. The shares were sold at an average price of $51.43, for a total value of $311,357.22. Following the completion of the sale, the chief accounting officer now directly owns 85,008 shares in the company, valued at $4,371,961.44. This trade represents a 6.65 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CEO David Baszucki sold 138,555 shares of the company’s stock in a transaction that occurred on Thursday, January 30th. The stock was sold at an average price of $71.62, for a total value of $9,923,309.10. Following the transaction, the chief executive officer now owns 129,301 shares in the company, valued at $9,260,537.62. This trade represents a 51.73 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 1,306,335 shares of company stock valued at $77,348,316. 22.15% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of RBLX. V Square Quantitative Management LLC bought a new position in shares of Roblox during the third quarter valued at approximately $27,000. Frazier Financial Advisors LLC increased its holdings in shares of Roblox by 20,800.0% during the third quarter. Frazier Financial Advisors LLC now owns 627 shares of the company’s stock valued at $28,000 after acquiring an additional 624 shares in the last quarter. Versant Capital Management Inc raised its position in shares of Roblox by 83.9% in the 4th quarter. Versant Capital Management Inc now owns 524 shares of the company’s stock worth $30,000 after purchasing an additional 239 shares during the last quarter. GAMMA Investing LLC lifted its stake in shares of Roblox by 132.8% in the third quarter. GAMMA Investing LLC now owns 929 shares of the company’s stock worth $41,000 after buying an additional 530 shares in the last quarter. Finally, Huntington National Bank increased its position in shares of Roblox by 277.0% during the third quarter. Huntington National Bank now owns 1,048 shares of the company’s stock valued at $46,000 after acquiring an additional 770 shares in the last quarter. 94.46% of the stock is currently owned by institutional investors.

Roblox Company Profile

Roblox Corporation develops and operates an online entertainment platform in the United States and internationally. It offers Roblox Studio, a free toolset that allows developers and creators to build, publish, and operate 3D experiences, and other content; Roblox Client, an application that allows users to explore 3D experience; and Roblox Cloud, which provides services and infrastructure that power the platform.