Roblox’s (RBLX) “Outperform” Rating Reaffirmed at Wedbush

Wedbush restated their outperform rating on shares of Roblox (NYSE:RBLX) in a research note released on Friday, MarketBeat.com reports. They currently have a $49.00 price target on the stock.

Several other analysts also recently commented on RBLX. BTIG Research upped their price target on shares of Roblox from $47.00 to $51.00 and gave the company a “buy” rating in a research report on Monday, September 9th. Macquarie increased their target price on shares of Roblox from $46.00 to $50.00 and gave the stock an “outperform” rating in a research note on Monday, August 5th. JPMorgan Chase & Co. boosted their price target on Roblox from $50.00 to $51.00 and gave the company an “overweight” rating in a research report on Tuesday. Wells Fargo & Company increased their price objective on Roblox from $46.00 to $54.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 9th. Finally, Barclays boosted their target price on Roblox from $35.00 to $40.00 and gave the company an “equal weight” rating in a report on Friday, August 2nd. Eight analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, Roblox currently has a consensus rating of “Moderate Buy” and a consensus price target of $46.29.

Roblox Stock Up 0.9 %

Shares of RBLX traded up $0.36 during mid-day trading on Friday, reaching $42.14. The company’s stock had a trading volume of 7,142,449 shares, compared to its average volume of 7,256,392. Roblox has a 12-month low of $29.55 and a 12-month high of $48.43. The stock has a market cap of $24.92 billion, a PE ratio of -22.66 and a beta of 1.60. The company has a debt-to-equity ratio of 9.04, a current ratio of 1.03 and a quick ratio of 1.03. The company’s 50 day moving average is $43.29 and its 200 day moving average is $39.07.

Roblox (NYSE:RBLX) last announced 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. Roblox had a negative return on equity of 1,187.59% and a negative net margin of 34.12%. The firm had revenue of $893.50 million during the quarter, compared to analysts’ expectations of $897.88 million. During the same period in the prior year, the firm earned ($0.46) EPS. The business’s revenue was up 31.2% on a year-over-year basis. Equities analysts anticipate that Roblox will post -1.58 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CEO David Baszucki sold 166,668 shares of Roblox stock in a transaction on Friday, October 25th. The stock was sold at an average price of $42.15, for a total transaction of $7,025,056.20. Following the completion of the transaction, the chief executive officer now owns 135,755 shares of the company’s stock, valued at $5,722,073.25. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In other news, CEO David Baszucki sold 166,668 shares of the stock in a transaction that occurred on Friday, October 25th. The shares were sold at an average price of $42.15, for a total value of $7,025,056.20. Following the sale, the chief executive officer now directly owns 135,755 shares in the company, valued at $5,722,073.25. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Gregory Baszucki sold 13,000 shares of the firm’s stock in a transaction that occurred on Wednesday, September 25th. The stock was sold at an average price of $47.75, for a total transaction of $620,750.00. Following the transaction, the director now directly owns 9,662,103 shares of the company’s stock, valued at approximately $461,365,418.25. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 779,341 shares of company stock worth $33,831,012. 22.15% of the stock is owned by corporate insiders.

Institutional Trading of Roblox

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. raised its holdings in Roblox by 10.4% in the 1st quarter. Vanguard Group Inc. now owns 51,082,302 shares of the company’s stock valued at $1,950,322,000 after acquiring an additional 4,818,022 shares during the last quarter. Baillie Gifford & Co. increased its stake in Roblox by 1.9% in the second quarter. Baillie Gifford & Co. now owns 29,142,565 shares of the company’s stock valued at $1,084,395,000 after purchasing an additional 535,414 shares during the last quarter. ARK Investment Management LLC increased its stake in Roblox by 12.9% in the second quarter. ARK Investment Management LLC now owns 13,338,829 shares of the company’s stock valued at $496,338,000 after purchasing an additional 1,519,591 shares during the last quarter. Ieq Capital LLC lifted its position in Roblox by 27.6% during the first quarter. Ieq Capital LLC now owns 12,409,924 shares of the company’s stock worth $473,811,000 after buying an additional 2,684,713 shares during the period. Finally, Dragoneer Investment Group LLC boosted its stake in Roblox by 26.9% in the 2nd quarter. Dragoneer Investment Group LLC now owns 11,745,203 shares of the company’s stock worth $437,039,000 after buying an additional 2,488,044 shares during the last quarter. Hedge funds and other institutional investors 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.