Roblox (NYSE:RBLX) PT Lowered to $46.00

Roblox (NYSE:RBLX) had its price objective lowered by investment analysts at Wedbush from $56.00 to $46.00 in a note issued to investors on Friday, Benzinga reports. The brokerage presently has an “outperform” rating on the stock. Wedbush’s price target suggests a potential upside of 45.62% from the company’s current price.

A number of other analysts have also weighed in on RBLX. The Goldman Sachs Group upgraded shares of Roblox from a “sell” rating to a “neutral” rating and upped their target price for the stock from $35.00 to $48.00 in a research note on Thursday, February 8th. Needham & Company LLC decreased their price target on Roblox from $55.00 to $40.00 and set a “buy” rating for the company in a report on Friday. JPMorgan Chase & Co. raised Roblox from a “neutral” rating to an “overweight” rating and raised their target price for the company from $41.00 to $48.00 in a report on Tuesday, April 23rd. Stifel Nicolaus reissued a “buy” rating and issued a $53.00 target price on shares of Roblox in a report on Monday, April 22nd. Finally, Barclays raised Roblox from an “underweight” rating to an “equal weight” rating and lifted their price target for the stock from $26.00 to $46.00 in a research note on Thursday, February 8th. Five equities research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $44.81.

Roblox Trading Up 3.8 %

Shares of RBLX stock traded up $1.17 on Friday, hitting $31.59. 9,034,003 shares of the stock traded hands, compared to its average volume of 8,093,513. The firm’s 50-day moving average price is $37.81 and its two-hundred day moving average price is $39.39. The company has a debt-to-equity ratio of 14.64, a quick ratio of 1.07 and a current ratio of 1.07. The stock has a market capitalization of $19.95 billion, a PE ratio of -16.89 and a beta of 1.63. Roblox has a twelve month low of $24.88 and a twelve month high of $47.20.

Roblox (NYSE:RBLX) last announced its quarterly earnings results on Thursday, May 9th. The company reported ($0.43) earnings per share for the quarter, beating the consensus estimate of ($0.53) by $0.10. Roblox had a negative net margin of 41.15% and a negative return on equity of 770.71%. The firm had revenue of $923.76 million for the quarter, compared to analysts’ expectations of $918.85 million. During the same quarter in the previous year, the company posted ($0.44) EPS. The company’s revenue was up 19.4% compared to the same quarter last year. As a group, analysts anticipate that Roblox will post -2.09 EPS for the current year.

Insider Transactions at Roblox

In related news, Director Gregory Baszucki sold 13,000 shares of the stock in a transaction that occurred on Wednesday, April 24th. The stock was sold at an average price of $35.08, for a total transaction of $456,040.00. Following the sale, the director now owns 9,747,603 shares of the company’s stock, valued at $341,945,913.24. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, CEO David Baszucki sold 200,000 shares of the firm’s stock in a transaction on Monday, February 12th. The stock was sold at an average price of $44.09, for a total transaction of $8,818,000.00. Following the sale, the chief executive officer now owns 1 shares of the company’s stock, valued at approximately $44.09. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Gregory Baszucki sold 13,000 shares of the firm’s stock in a transaction on Wednesday, April 24th. The shares were sold at an average price of $35.08, for a total value of $456,040.00. Following the sale, the director now directly owns 9,747,603 shares in the company, valued at approximately $341,945,913.24. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 512,374 shares of company stock worth $20,809,338. Company insiders own 22.15% of the company’s stock.

Institutional Investors Weigh In On Roblox

Several hedge funds have recently modified their holdings of RBLX. Allspring Global Investments Holdings LLC bought a new position in shares of Roblox in the 4th quarter worth about $25,000. Washington Trust Advisors Inc. acquired a new stake in shares of Roblox in the 1st quarter valued at about $39,000. Blue Trust Inc. grew its stake in shares of Roblox by 566.5% in the 4th quarter. Blue Trust Inc. now owns 1,073 shares of the company’s stock valued at $49,000 after buying an additional 912 shares during the period. Future Financial Wealth Managment LLC acquired a new stake in shares of Roblox in the 1st quarter valued at about $52,000. Finally, Benjamin F. Edwards & Company Inc. grew its stake in shares of Roblox by 306.3% in the 1st quarter. Benjamin F. Edwards & Company Inc. now owns 1,483 shares of the company’s stock valued at $56,000 after buying an additional 1,118 shares during the period. Institutional investors and hedge funds own 91.08% 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.