Roblox (NYSE:RBLX) Price Target Raised to $76.00

Roblox (NYSE:RBLX) had its target price upped by Macquarie from $71.00 to $76.00 in a report issued on Friday morning,Benzinga reports. Macquarie currently has an outperform rating on the stock.

Several other equities research analysts have also commented on the company. Needham & Company LLC upped their price objective on Roblox from $60.00 to $72.00 and gave the stock a “buy” rating in a research note on Friday. Moffett Nathanson cut Roblox from a “neutral” rating to a “sell” rating and set a $34.00 price target for the company. in a research report on Friday. The Goldman Sachs Group lifted their price objective on Roblox from $55.00 to $63.00 and gave the company a “neutral” rating in a research report on Friday. HSBC started coverage on shares of Roblox in a report on Thursday, December 12th. They issued a “buy” rating and a $63.00 target price for the company. Finally, CICC Research initiated coverage on shares of Roblox in a report on Tuesday, January 14th. They set an “outperform” rating on the stock. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $64.19.

Roblox Stock Down 1.1 %

RBLX stock opened at $66.41 on Friday. The company has a market cap of $40.34 billion, a price-to-earnings ratio of -45.80 and a beta of 1.46. The company has a debt-to-equity ratio of 5.64, a quick ratio of 0.98 and a current ratio of 0.98. The business’s 50-day moving average is $62.47 and its two-hundred day moving average is $50.76. Roblox has a fifty-two week low of $29.55 and a fifty-two week high of $75.74.

Roblox (NYSE:RBLX) last issued its quarterly earnings data on Thursday, February 6th. The company reported ($0.33) earnings per share for the quarter, topping the consensus estimate of ($0.46) by $0.13. Roblox had a negative net margin of 25.97% and a negative return on equity of 795.19%. As a group, analysts forecast that Roblox will post -1.4 earnings per share for the current year.

Insider Transactions at Roblox

In other news, Director Anthony P. Lee sold 25,000 shares of the company’s stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $52.34, for a total transaction of $1,308,500.00. Following the transaction, the director now owns 5,731,695 shares of the company’s stock, valued at approximately $299,996,916.30. This represents a 0.43 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CAO Amy Marie Rawlings sold 3,601 shares of the stock in a transaction on Friday, November 22nd. The stock was sold at an average price of $49.32, for a total value of $177,601.32. Following the completion of the sale, the chief accounting officer now owns 81,407 shares in the company, valued at approximately $4,014,993.24. The trade was a 4.24 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,306,335 shares of company stock valued at $77,348,316 in the last ninety days. Corporate insiders own 22.15% of the company’s stock.

Institutional Investors Weigh In On Roblox

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Versant Capital Management Inc raised its position in Roblox by 83.9% during the 4th quarter. Versant Capital Management Inc now owns 524 shares of the company’s stock valued at $30,000 after purchasing an additional 239 shares in the last quarter. V Square Quantitative Management LLC purchased a new stake in Roblox in the third quarter worth about $27,000. Frazier Financial Advisors LLC grew its holdings in Roblox by 20,800.0% during the 3rd quarter. Frazier Financial Advisors LLC now owns 627 shares of the company’s stock worth $28,000 after acquiring an additional 624 shares in the last quarter. Parkside Financial Bank & Trust raised its holdings in shares of Roblox by 44.5% in the 4th quarter. Parkside Financial Bank & Trust now owns 747 shares of the company’s stock valued at $43,000 after purchasing an additional 230 shares in the last quarter. Finally, GAMMA Investing LLC lifted its position in shares of Roblox by 132.8% in the 3rd quarter. GAMMA Investing LLC now owns 929 shares of the company’s stock worth $41,000 after purchasing an additional 530 shares during the period. Institutional investors own 94.46% of the company’s stock.

About Roblox

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.