Morgan Stanley Cuts Roblox (NYSE:RBLX) Price Target to $70.00

Roblox (NYSE:RBLX) had its target price decreased by Morgan Stanley from $75.00 to $70.00 in a research note published on Thursday morning,Benzinga reports. Morgan Stanley currently has an overweight rating on the stock.

Several other equities analysts also recently weighed in on the company. Wedbush reaffirmed an “outperform” rating and issued a $83.00 target price on shares of Roblox in a research report on Friday, February 7th. JPMorgan Chase & Co. upped their target price on shares of Roblox from $62.00 to $72.00 and gave the stock an “overweight” rating in a research note on Friday, January 10th. Benchmark restated a “buy” rating and issued a $71.00 price target on shares of Roblox in a research note on Tuesday, March 18th. Macquarie lifted their target price on Roblox from $71.00 to $76.00 and gave the company an “outperform” rating in a report on Friday, February 7th. Finally, Roth Mkm upped their price target on Roblox from $54.00 to $70.00 and gave the stock a “neutral” rating in a report on Monday, January 27th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating, eighteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Roblox presently has a consensus rating of “Moderate Buy” and a consensus target price of $64.00.

Roblox Trading Up 1.1 %

Shares of RBLX stock opened at $59.76 on Thursday. The company has a 50-day moving average of $59.28 and a two-hundred day moving average of $56.78. The firm has a market cap of $37.56 billion, a PE ratio of -41.22 and a beta of 1.49. Roblox has a 1-year low of $29.55 and a 1-year high of $75.74. The company has a debt-to-equity ratio of 4.82, a current ratio of 1.02 and a quick ratio of 0.98.

Roblox (NYSE:RBLX) last posted its earnings results on Thursday, February 6th. The company reported ($0.33) earnings per share for the quarter, beating 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 665.98%. On average, analysts predict that Roblox will post -1.49 EPS for the current year.

Insiders Place Their Bets

In other news, CAO Amy Marie Rawlings sold 4,468 shares of the business’s stock in a transaction that occurred on Thursday, February 20th. The stock was sold at an average price of $61.34, for a total value of $274,067.12. Following the transaction, the chief accounting officer now owns 75,583 shares of the company’s stock, valued at approximately $4,636,261.22. The trade was a 5.58 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Mark Reinstra sold 24,000 shares of the stock in a transaction on Wednesday, January 22nd. The stock was sold at an average price of $65.89, for a total value of $1,581,360.00. Following the sale, the insider now directly owns 281,161 shares of the company’s stock, valued at approximately $18,525,698.29. This represents a 7.86 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 926,954 shares of company stock valued at $56,936,331. Insiders own 22.15% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the company. FMR LLC increased its position in Roblox by 89.4% during the 4th quarter. FMR LLC now owns 39,658,528 shares of the company’s stock worth $2,294,642,000 after purchasing an additional 18,715,837 shares during the period. Wealthfront Advisers LLC grew its holdings in Roblox by 74,400.8% during the fourth quarter. Wealthfront Advisers LLC now owns 17,335,594 shares of the company’s stock worth $1,063,365,000 after acquiring an additional 17,312,325 shares during the period. Arrowstreet Capital Limited Partnership raised its position in Roblox by 1,084.2% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 4,813,347 shares of the company’s stock worth $278,500,000 after acquiring an additional 4,406,885 shares in the last quarter. Durable Capital Partners LP acquired a new stake in Roblox in the fourth quarter valued at $246,560,000. Finally, Ieq Capital LLC boosted its position in shares of Roblox by 26.8% during the 4th quarter. Ieq Capital LLC now owns 16,592,623 shares of the company’s stock worth $960,049,000 after purchasing an additional 3,507,901 shares in the last quarter. 94.46% of the stock is owned by hedge funds and other institutional investors.

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.