Roblox (NYSE:RBLX) Raised to Overweight at JPMorgan Chase & Co.

JPMorgan Chase & Co. upgraded shares of Roblox (NYSE:RBLX) from a neutral rating to an overweight rating in a report issued on Tuesday, MarketBeat Ratings reports. The brokerage currently has $48.00 price objective on the stock, up from their previous price objective of $41.00.

Several other equities research analysts have also commented on RBLX. Needham & Company LLC boosted their price objective on shares of Roblox from $51.00 to $55.00 and gave the stock a buy rating in a research note on Thursday, February 8th. Benchmark reaffirmed a buy rating and set a $46.00 price objective on shares of Roblox in a research report on Tuesday, January 23rd. Stifel Nicolaus reaffirmed a buy rating and issued a $53.00 target price on shares of Roblox in a research report on Monday. BMO Capital Markets upped their price objective on Roblox from $55.00 to $57.00 and gave the company an outperform rating in a research report on Thursday, February 8th. Finally, Barclays raised Roblox from an underweight rating to an equal weight rating and raised their target price for the stock from $26.00 to $46.00 in a research report on Thursday, February 8th. Four research analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of Moderate Buy and a consensus target price of $47.60.

Roblox Stock Performance

Shares of NYSE:RBLX opened at $36.30 on Tuesday. Roblox has a 12 month low of $24.88 and a 12 month high of $47.20. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 14.64. The company has a 50-day moving average price of $39.03 and a 200-day moving average price of $39.01. The company has a market cap of $21.46 billion, a price-to-earnings ratio of -19.41 and a beta of 1.64.

Roblox (NYSE:RBLX) last posted its earnings results on Wednesday, February 7th. The company reported ($0.52) EPS for the quarter, topping the consensus estimate of ($0.57) by $0.05. Roblox had a negative net margin of 41.15% and a negative return on equity of 770.71%. The firm had revenue of $1.13 billion during the quarter, compared to analysts’ expectations of $1.05 billion. During the same period last year, the company posted ($0.48) EPS. The company’s quarterly revenue was up 25.3% compared to the same quarter last year. As a group, equities analysts anticipate that Roblox will post -2.1 EPS for the current year.

Insider Buying and Selling

In related news, insider Mark Reinstra sold 4,000 shares of the company’s stock in a transaction on Wednesday, April 17th. The shares were sold at an average price of $36.69, for a total transaction of $146,760.00. Following the completion of the transaction, the insider now owns 359,453 shares in the company, valued at $13,188,330.57. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, insider Mark Reinstra sold 4,000 shares of Roblox stock in a transaction dated Wednesday, April 17th. The stock was sold at an average price of $36.69, for a total value of $146,760.00. Following the sale, the insider now directly owns 359,453 shares of the company’s stock, valued at $13,188,330.57. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Amy Marie Rawlings sold 3,777 shares of the stock in a transaction that occurred on Wednesday, February 21st. The shares were sold at an average price of $40.64, for a total value of $153,497.28. Following the transaction, the chief accounting officer now directly owns 96,125 shares of the company’s stock, valued at $3,906,520. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 699,374 shares of company stock worth $29,183,298. 22.15% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Roblox

Hedge funds have recently bought and sold shares of the business. Barclays PLC increased its position in shares of Roblox by 171.8% during the 3rd quarter. Barclays PLC now owns 1,086,243 shares of the company’s stock valued at $31,457,000 after purchasing an additional 686,594 shares during the last quarter. Aviva PLC lifted its holdings in shares of Roblox by 202.5% in the 3rd quarter. Aviva PLC now owns 195,411 shares of the company’s stock worth $5,659,000 after acquiring an additional 130,818 shares during the last quarter. Morgan Stanley grew its holdings in Roblox by 13.7% during the 3rd quarter. Morgan Stanley now owns 41,014,115 shares of the company’s stock valued at $1,187,769,000 after purchasing an additional 4,927,848 shares during the last quarter. Vanguard Group Inc. raised its position in Roblox by 29.0% in the 3rd quarter. Vanguard Group Inc. now owns 44,593,008 shares of the company’s stock worth $1,291,414,000 after purchasing an additional 10,025,779 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. bought a new stake in Roblox in the third quarter worth about $6,415,000. 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.