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

Roblox (NYSE:RBLX) had its target price hoisted by analysts at Macquarie from $71.00 to $76.00 in a report released on Friday,Benzinga reports. The firm currently has an “outperform” rating on the stock. Macquarie’s price target would suggest a potential upside of 16.06% from the company’s current price.

RBLX has been the subject of several other reports. Morgan Stanley upped their price objective on Roblox from $65.00 to $75.00 and gave the stock an “overweight” rating in a research report on Monday, January 13th. Deutsche Bank Aktiengesellschaft raised their price target on Roblox from $45.00 to $60.00 and gave the stock a “buy” rating in a report on Monday, November 4th. The Goldman Sachs Group raised their target price on shares of Roblox from $55.00 to $63.00 and gave the stock a “neutral” rating in a research note on Friday. Benchmark raised their target price on Roblox from $44.00 to $60.00 and gave the company a “buy” rating in a report on Friday, November 1st. Finally, Barclays raised their price objective on Roblox from $40.00 to $50.00 and gave the company an “equal weight” rating in a research note on Friday, November 1st. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, sixteen have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $62.76.

Roblox Trading Down 2.4 %

Shares of RBLX stock traded down $1.64 during trading hours on Friday, hitting $65.48. The company had a trading volume of 17,156,195 shares, compared to its average volume of 9,231,265. The company has a debt-to-equity ratio of 5.64, a current ratio of 0.98 and a quick ratio of 0.98. The company’s fifty day moving average is $62.14 and its 200 day moving average is $50.44. Roblox has a fifty-two week low of $29.55 and a fifty-two week high of $75.74. The stock has a market capitalization of $39.78 billion, a PE ratio of -39.65 and a beta of 1.46.

Roblox (NYSE:RBLX) last posted its quarterly earnings data 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 30.90% and a negative return on equity of 986.36%. Research analysts expect that Roblox will post -1.56 earnings per share for the current fiscal year.

Insider Transactions at Roblox

In other news, CEO David Baszucki sold 138,555 shares of Roblox 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 completion of the transaction, the chief executive officer now 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 legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Mark Reinstra sold 16,480 shares of the firm’s stock in a transaction dated Wednesday, November 20th. The stock was sold at an average price of $51.43, for a total transaction of $847,566.40. Following the completion of the transaction, the insider now directly owns 278,161 shares in the company, valued at $14,305,820.23. This represents a 5.59 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 1,306,335 shares of company stock worth $77,348,316 in the last three months. 22.15% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Roblox

A number of hedge funds have recently added to or reduced their stakes in RBLX. V Square Quantitative Management LLC bought a new position in Roblox during the 3rd quarter valued at $27,000. Frazier Financial Advisors LLC grew its stake in Roblox by 20,800.0% in the third quarter. Frazier Financial Advisors LLC now owns 627 shares of the company’s stock valued at $28,000 after purchasing an additional 624 shares in the last quarter. Versant Capital Management Inc raised its holdings in shares of 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. GAMMA Investing LLC lifted its holdings in 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 last quarter. Finally, Parkside Financial Bank & Trust boosted its holdings in Roblox by 44.5% during the fourth quarter. Parkside Financial Bank & Trust now owns 747 shares of the company’s stock valued at $43,000 after acquiring an additional 230 shares during the period. 94.46% of the stock is currently owned by institutional investors.

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.