Brokerages Set Roblox Co. (NYSE:RBLX) PT at $44.40

Roblox Co. (NYSE:RBLX) has received an average rating of “Moderate Buy” from the twenty-two ratings firms that are covering the stock, MarketBeat reports. Eight investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company. The average 12-month price objective among analysts that have covered the stock in the last year is $44.40.

A number of analysts have commented on the company. Jefferies Financial Group started coverage on Roblox in a research report on Thursday, July 11th. They set a “hold” rating and a $42.00 target price on the stock. Wedbush reiterated an “outperform” rating and issued a $46.00 price objective on shares of Roblox in a research report on Monday, July 29th. Benchmark increased their price objective on shares of Roblox from $40.00 to $44.00 and gave the company a “buy” rating in a research note on Friday, August 2nd. Deutsche Bank Aktiengesellschaft upped their price target on shares of Roblox from $40.00 to $45.00 and gave the company a “buy” rating in a report on Friday, August 2nd. Finally, Barclays raised their price objective on shares of Roblox from $35.00 to $40.00 and gave the stock an “equal weight” rating in a research note on Friday, August 2nd.

Insider Transactions at Roblox

In other news, CAO Amy Marie Rawlings sold 4,933 shares of the company’s stock in a transaction on Tuesday, August 20th. The stock was sold at an average price of $40.35, for a total transaction of $199,046.55. Following the completion of the sale, the chief accounting officer now directly owns 99,617 shares in the company, valued at approximately $4,019,545.95. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In related news, CAO Amy Marie Rawlings sold 4,933 shares of the stock in a transaction that occurred on Tuesday, August 20th. The shares were sold at an average price of $40.35, for a total transaction of $199,046.55. Following the completion of the sale, the chief accounting officer now owns 99,617 shares of the company’s stock, valued at approximately $4,019,545.95. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Arvind Chakravarthy sold 592 shares of the firm’s stock in a transaction that occurred on Tuesday, August 27th. The shares were sold at an average price of $43.32, for a total transaction of $25,645.44. Following the completion of the transaction, the insider now owns 276,892 shares in the company, valued at approximately $11,994,961.44. The disclosure for this sale can be found here. Insiders have sold a total of 608,675 shares of company stock worth $25,410,923 in the last three months. Company insiders own 22.15% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in RBLX. Truist Financial Corp grew its holdings in Roblox by 10.9% during the 4th quarter. Truist Financial Corp now owns 10,460 shares of the company’s stock worth $478,000 after acquiring an additional 1,026 shares in the last quarter. Russell Investments Group Ltd. increased its holdings in Roblox by 16.7% in the fourth quarter. Russell Investments Group Ltd. now owns 33,302 shares of the company’s stock valued at $1,524,000 after buying an additional 4,764 shares during the last quarter. Natixis Advisors L.P. acquired a new stake in Roblox during the fourth quarter valued at approximately $554,000. Principal Securities Inc. bought a new position in Roblox during the 4th quarter worth approximately $59,000. Finally, QRG Capital Management Inc. grew its position in shares of Roblox by 40.5% in the 4th quarter. QRG Capital Management Inc. now owns 37,122 shares of the company’s stock worth $1,697,000 after acquiring an additional 10,699 shares in the last quarter. 91.08% of the stock is owned by hedge funds and other institutional investors.

Roblox Price Performance

Shares of NYSE RBLX opened at $45.87 on Friday. The company’s fifty day moving average is $41.20 and its two-hundred day moving average is $38.14. The company has a debt-to-equity ratio of 9.04, a quick ratio of 1.03 and a current ratio of 1.03. The firm has a market capitalization of $27.12 billion, a P/E ratio of -24.66 and a beta of 1.60. Roblox has a one year low of $24.88 and a one year high of $47.20.

Roblox (NYSE:RBLX) last issued its earnings results on Thursday, August 1st. The company reported ($0.32) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.39) by $0.07. The company had revenue of $893.50 million during the quarter, compared to analysts’ expectations of $897.88 million. Roblox had a negative net margin of 34.12% and a negative return on equity of 1,187.59%. The firm’s quarterly revenue was up 31.2% compared to the same quarter last year. During the same period last year, the company posted ($0.46) earnings per share. Analysts forecast that Roblox will post -1.59 EPS for the current fiscal year.

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.