Barclays Cuts Roblox (NYSE:RBLX) Price Target to $46.00

Roblox (NYSE:RBLX) had its price objective decreased by equities research analysts at Barclays from $50.00 to $46.00 in a research report issued on Friday,Benzinga reports. The firm presently has an “equal weight” rating on the stock. Barclays‘s price target indicates a potential downside of 30.73% from the stock’s previous close.

RBLX has been the topic of several other reports. CICC Research began coverage on Roblox in a research report on Tuesday, January 14th. They set an “outperform” rating on the stock. HSBC began coverage on Roblox in a research note on Thursday, December 12th. They issued a “buy” rating and a $63.00 target price on the stock. Moffett Nathanson downgraded Roblox from a “neutral” rating to a “sell” rating and set a $34.00 target price on the stock. in a research note on Friday. JPMorgan Chase & Co. boosted their target price on Roblox from $62.00 to $72.00 and gave the company an “overweight” rating in a research note on Friday, January 10th. Finally, BMO Capital Markets restated an “outperform” rating and issued a $62.00 target price (up previously from $56.00) on shares of Roblox in a research note on Friday, November 1st. One analyst has rated the stock with a sell rating, six have assigned a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Roblox currently has an average rating of “Moderate Buy” and a consensus target price of $62.57.

Roblox Stock Down 1.1 %

NYSE:RBLX traded down $0.71 during trading hours on Friday, hitting $66.41. 23,953,768 shares of the company’s stock traded hands, compared to its average volume of 9,656,356. The firm has a market cap of $40.34 billion, a P/E ratio of -40.49 and a beta of 1.46. Roblox has a twelve month low of $29.55 and a twelve month high of $75.74. 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 stock’s fifty day moving average price is $62.14 and its two-hundred day moving average price is $50.44.

Roblox (NYSE:RBLX) last posted its quarterly earnings results on Thursday, February 6th. The company reported ($0.33) earnings per share for the quarter, beating the consensus estimate of ($0.46) by $0.13. Roblox had a negative return on equity of 986.36% and a negative net margin of 30.90%. On average, research analysts expect that Roblox will post -1.56 earnings per share for the current fiscal year.

Insider Buying and Selling at Roblox

In other Roblox news, CEO David Baszucki sold 138,555 shares of the stock in a transaction 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 directly owns 129,301 shares in the company, valued at approximately $9,260,537.62. This trade represents a 51.73 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Amy Marie Rawlings sold 3,601 shares of the stock in a transaction on Friday, November 22nd. The shares were sold at an average price of $49.32, for a total value of $177,601.32. Following the completion of the transaction, the chief accounting officer now owns 81,407 shares in the company, valued at $4,014,993.24. The trade was a 4.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 1,306,335 shares of company stock valued at $77,348,316 in the last quarter. Corporate insiders own 22.15% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Prosperity Wealth Management Inc. bought a new position in shares of Roblox in the 4th quarter worth $371,000. Wealthfront Advisers LLC raised its stake in Roblox by 74,400.8% during the 4th quarter. Wealthfront Advisers LLC now owns 17,335,594 shares of the company’s stock worth $1,063,365,000 after buying an additional 17,312,325 shares during the period. Independent Advisor Alliance boosted its holdings in shares of Roblox by 23.6% during the fourth quarter. Independent Advisor Alliance now owns 11,178 shares of the company’s stock worth $647,000 after acquiring an additional 2,132 shares during the period. Daiwa Securities Group Inc. boosted its holdings in shares of Roblox by 10.8% during the fourth quarter. Daiwa Securities Group Inc. now owns 61,192 shares of the company’s stock worth $3,541,000 after acquiring an additional 5,953 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of Roblox by 2.2% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 102,665 shares of the company’s stock worth $5,940,000 after acquiring an additional 2,178 shares during the period. 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.