Roblox (NYSE:RBLX) Price Target Raised to $72.00 at Needham & Company LLC

Roblox (NYSE:RBLX) had its price objective upped by Needham & Company LLC from $60.00 to $72.00 in a report published on Friday morning,Benzinga reports. They currently have a buy rating on the stock.

RBLX has been the topic of several other reports. Morgan Stanley upped their price target on Roblox from $65.00 to $75.00 and gave the company an “overweight” rating in a research report on Monday, January 13th. Raymond James restated a “strong-buy” rating and issued a $60.00 price target on shares of Roblox in a research report on Friday, November 22nd. Wells Fargo & Company boosted their price objective on shares of Roblox from $58.00 to $76.00 and gave the company an “overweight” rating in a research report on Thursday, January 16th. Benchmark raised their target price on shares of Roblox from $44.00 to $60.00 and gave the stock a “buy” rating in a report on Friday, November 1st. Finally, Canaccord Genuity Group upped their target price on Roblox from $50.00 to $60.00 and gave the company a “buy” rating in a report on Friday, November 1st. One analyst has rated the stock with a sell rating, six have issued a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $64.19.

Roblox Price Performance

Shares of RBLX opened at $66.41 on Friday. Roblox has a 52-week low of $29.55 and a 52-week high of $75.74. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 5.64. The business’s 50 day moving average is $62.47 and its two-hundred day moving average is $50.62.

Roblox (NYSE:RBLX) last announced its quarterly earnings data on Thursday, February 6th. The company reported ($0.33) earnings per share for the quarter, topping 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 795.19%. As a group, equities research analysts predict that Roblox will post -1.4 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, CEO David Baszucki sold 138,555 shares of the company’s stock in a transaction on Thursday, January 30th. The shares were 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 of the company’s stock, valued at approximately $9,260,537.62. This represents a 51.73 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Mark Reinstra sold 16,480 shares of the business’s stock in a transaction dated Wednesday, November 20th. The shares were sold at an average price of $51.43, for a total value of $847,566.40. Following the completion of the transaction, the insider now owns 278,161 shares in the company, valued at $14,305,820.23. This trade represents a 5.59 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 1,306,335 shares of company stock valued at $77,348,316. Company insiders own 22.15% of the company’s stock.

Institutional Investors Weigh In On Roblox

Institutional investors have recently made changes to their positions in the company. Truist Financial Corp bought a new stake in Roblox in the second quarter worth approximately $559,000. Cetera Investment Advisers raised its stake in shares of Roblox by 4.4% in the 2nd quarter. Cetera Investment Advisers now owns 41,332 shares of the company’s stock valued at $1,538,000 after acquiring an additional 1,748 shares in the last quarter. Sanctuary Advisors LLC acquired a new stake in Roblox in the 2nd quarter worth approximately $1,105,000. GAMMA Investing LLC boosted its position in Roblox by 132.8% during the third quarter. GAMMA Investing LLC now owns 929 shares of the company’s stock worth $41,000 after purchasing an additional 530 shares during the period. Finally, Dynamic Advisor Solutions LLC acquired a new position in Roblox during the third quarter valued at approximately $235,000. 94.46% of the stock is currently owned by institutional investors and hedge funds.

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.