FBN Securities Initiates Coverage on Roblox (NYSE:RBLX)

FBN Securities started coverage on shares of Roblox (NYSE:RBLX) in a research note released on Friday morning, MarketBeat reports. The brokerage issued a sector perform rating and a $65.00 target price on the stock.

RBLX has been the subject of several other research reports. Macquarie boosted their target price on Roblox from $71.00 to $76.00 and gave the stock an “outperform” rating in a research note on Friday, February 7th. Barclays dropped their price objective on shares of Roblox from $50.00 to $46.00 and set an “equal weight” rating for the company in a research note on Friday, February 7th. Piper Sandler reaffirmed an “overweight” rating and set a $72.00 target price (up previously from $65.00) on shares of Roblox in a research note on Tuesday, January 28th. JPMorgan Chase & Co. increased their price target on Roblox from $62.00 to $72.00 and gave the company an “overweight” rating in a research note on Friday, January 10th. Finally, CICC Research started coverage on Roblox in a research report on Tuesday, January 14th. They issued an “outperform” rating for the company. One research analyst has rated the stock with a sell rating, seven have given a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Roblox currently has an average rating of “Moderate Buy” and a consensus target price of $64.23.

Roblox Stock Performance

RBLX opened at $58.99 on Friday. The company has a debt-to-equity ratio of 4.82, a current ratio of 1.02 and a quick ratio of 0.98. The company has a market capitalization of $36.51 billion, a PE ratio of -40.68 and a beta of 1.49. The business has a fifty day simple moving average of $63.22 and a 200 day simple moving average of $55.41. Roblox has a 1 year low of $29.55 and a 1 year high of $75.74.

Roblox (NYSE:RBLX) last released its earnings results on Thursday, February 6th. The company reported ($0.33) EPS for the quarter, beating 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 665.98%. Research analysts expect that Roblox will post -1.49 EPS for the current year.

Insider Buying and Selling

In other Roblox news, CEO David Baszucki sold 34,099 shares of the stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of $57.05, for a total value of $1,945,347.95. Following the transaction, the chief executive officer now owns 221,983 shares in the company, valued at approximately $12,664,130.15. This represents a 13.32 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Amy Marie Rawlings sold 5,879 shares of the business’s stock in a transaction that occurred on Thursday, January 16th. The shares were sold at an average price of $65.00, for a total value of $382,135.00. Following the sale, the chief accounting officer now owns 75,528 shares of the company’s stock, valued at approximately $4,909,320. This represents a 7.22 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 926,466 shares of company stock valued at $60,212,297 over the last ninety days. 22.15% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of RBLX. Versant Capital Management Inc increased its position in shares of Roblox by 83.9% during the fourth quarter. Versant Capital Management Inc now owns 524 shares of the company’s stock worth $30,000 after acquiring an additional 239 shares in the last quarter. Gordian Capital Singapore Pte Ltd increased its holdings in Roblox by 74.8% during the 4th quarter. Gordian Capital Singapore Pte Ltd now owns 561 shares of the company’s stock worth $32,000 after purchasing an additional 240 shares in the last quarter. Colonial Trust Co SC bought a new stake in Roblox during the 4th quarter worth approximately $41,000. Parkside Financial Bank & Trust raised its stake in shares of Roblox by 44.5% in the fourth quarter. Parkside Financial Bank & Trust now owns 747 shares of the company’s stock worth $43,000 after purchasing an additional 230 shares during the last quarter. Finally, Rakuten Securities Inc. boosted its position in shares of Roblox by 25.6% during the fourth quarter. Rakuten Securities Inc. now owns 958 shares of the company’s stock valued at $55,000 after buying an additional 195 shares during the last quarter. Institutional investors and hedge funds 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.