Roblox (NYSE:RBLX) PT Lowered to $53.00

Roblox (NYSE:RBLXGet Rating) had its target price decreased by Needham & Company LLC from $55.00 to $53.00 in a research report issued on Friday, The Fly reports. The brokerage currently has a “buy” rating on the stock. Needham & Company LLC’s target price indicates a potential upside of 34.18% from the stock’s current price.

RBLX has been the subject of several other research reports. Deutsche Bank Aktiengesellschaft raised their price objective on shares of Roblox from $45.00 to $52.00 and gave the company a “buy” rating in a research report on Friday, August 12th. Bank of America raised their price objective on shares of Roblox from $40.00 to $45.00 and gave the company a “buy” rating in a research report on Thursday, July 14th. Atlantic Securities cut shares of Roblox from an “overweight” rating to a “neutral” rating and set a $30.00 price target for the company. in a research report on Tuesday, May 24th. Citigroup lifted their price target on shares of Roblox to $55.00 in a research report on Monday, August 22nd. Finally, Wedbush lifted their price target on shares of Roblox from $28.00 to $34.00 and gave the stock a “neutral” rating in a research report on Thursday, August 11th. Three investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, Roblox has a consensus rating of “Hold” and a consensus price target of $43.78.

Roblox Price Performance

Roblox stock opened at $39.50 on Friday. Roblox has a 52 week low of $21.65 and a 52 week high of $141.60. The firm has a market cap of $21.54 billion, a P/E ratio of -41.58 and a beta of 1.89. The company has a debt-to-equity ratio of 1.79, a quick ratio of 1.65 and a current ratio of 1.65. The business’s fifty day moving average is $42.60 and its two-hundred day moving average is $38.74.

Roblox (NYSE:RBLXGet Rating) last issued its quarterly earnings data on Tuesday, August 9th. The company reported ($0.30) EPS for the quarter, missing analysts’ consensus estimates of ($0.24) by ($0.06). The company had revenue of $639.90 million for the quarter, compared to the consensus estimate of $625.43 million. Roblox had a negative return on equity of 95.60% and a negative net margin of 25.11%. The firm’s revenue was down 3.8% compared to the same quarter last year. During the same period in the prior year, the company earned ($0.25) EPS. Equities research analysts forecast that Roblox will post -1.23 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Roblox news, major shareholder Han Kim sold 50,000 shares of Roblox stock in a transaction that occurred on Friday, August 12th. The shares were sold at an average price of $50.36, for a total value of $2,518,000.00. Following the transaction, the insider now owns 1,404,233 shares of the company’s stock, valued at $70,717,173.88. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other Roblox news, major shareholder Han Kim sold 50,000 shares of Roblox stock in a transaction that occurred on Friday, August 12th. The shares were sold at an average price of $50.36, for a total value of $2,518,000.00. Following the transaction, the insider now owns 1,404,233 shares of the company’s stock, valued at $70,717,173.88. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO David Baszucki sold 550,000 shares of Roblox stock in a transaction that occurred on Tuesday, August 23rd. The shares were sold at an average price of $41.41, for a total transaction of $22,775,500.00. Following the completion of the transaction, the chief executive officer now directly owns 1 shares in the company, valued at approximately $41.41. The disclosure for this sale can be found here. Insiders have sold 707,960 shares of company stock valued at $30,289,182 in the last 90 days. 28.22% of the stock is owned by insiders.

Institutional Trading of Roblox

Hedge funds and other institutional investors have recently made changes to their positions in the business. Commonwealth Equity Services LLC raised its holdings in shares of Roblox by 53.4% in the first quarter. Commonwealth Equity Services LLC now owns 101,008 shares of the company’s stock valued at $4,670,000 after purchasing an additional 35,160 shares during the last quarter. PSI Advisors LLC raised its holdings in shares of Roblox by 217.3% in the first quarter. PSI Advisors LLC now owns 2,580 shares of the company’s stock valued at $119,000 after purchasing an additional 1,767 shares during the last quarter. BOKF NA acquired a new stake in shares of Roblox in the fourth quarter valued at approximately $3,821,000. Edmond DE Rothschild Holding S.A. raised its holdings in shares of Roblox by 68.7% in the first quarter. Edmond DE Rothschild Holding S.A. now owns 16,220 shares of the company’s stock valued at $750,000 after purchasing an additional 6,605 shares during the last quarter. Finally, SFG Wealth Management LLC. increased its holdings in Roblox by 12.3% during the first quarter. SFG Wealth Management LLC. now owns 47,790 shares of the company’s stock worth $2,210,000 after buying an additional 5,240 shares during the last quarter. 69.35% of the stock is currently owned by institutional investors and hedge funds.

About Roblox

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Roblox Corporation develops and operates an online entertainment platform. The company 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 digital world; Roblox Education for learning experiences; and Roblox Cloud, which provides services and infrastructure that power the human co-experience platform.

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