Roblox (NYSE:RBLX) Cut to “Neutral” at JPMorgan Chase & Co.

JPMorgan Chase & Co. cut shares of Roblox (NYSE:RBLX) from an overweight rating to a neutral rating in a research report sent to investors on Friday, MarketBeat Ratings reports. They currently have $100.00 price target on the stock, down from their previous price target of $145.00.

RBLX has been the subject of a number of other research reports. Macquarie lifted their target price on shares of Roblox from $158.00 to $164.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 4th. BMO Capital Markets upped their target price on Roblox from $150.00 to $160.00 and gave the company an “outperform” rating in a research note on Thursday, October 2nd. Bank of America increased their target price on Roblox from $159.00 to $171.00 and gave the company a “buy” rating in a report on Monday, September 8th. UBS Group set a $99.00 price target on Roblox in a report on Tuesday, December 9th. Finally, Arete Research set a $116.00 price objective on Roblox in a research report on Tuesday, September 9th. Eighteen investment analysts have rated the stock with a Buy rating, nine have given a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat, Roblox currently has an average rating of “Moderate Buy” and an average target price of $135.88.

Roblox Price Performance

Shares of NYSE RBLX opened at $88.42 on Friday. The firm has a market capitalization of $57.90 billion, a P/E ratio of -61.83 and a beta of 1.62. Roblox has a one year low of $50.10 and a one year high of $150.59. The company’s fifty day moving average is $110.03 and its two-hundred day moving average is $114.93. The company has a debt-to-equity ratio of 2.54, a quick ratio of 0.96 and a current ratio of 0.96.

Roblox (NYSE:RBLX) last issued its earnings results on Thursday, October 30th. The company reported ($0.37) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.44) by $0.07. The company had revenue of $1.36 billion during the quarter, compared to analysts’ expectations of $1.64 billion. Roblox had a negative net margin of 21.70% and a negative return on equity of 314.20%. The firm’s quarterly revenue was up 70.3% compared to the same quarter last year. During the same period last year, the company posted ($0.37) earnings per share. Analysts forecast that Roblox will post -1.49 EPS for the current fiscal year.

Insider Activity at Roblox

In other Roblox news, CEO David Baszucki sold 10,584 shares of the firm’s stock in a transaction dated Thursday, November 20th. The stock was sold at an average price of $95.24, for a total value of $1,008,020.16. Following the transaction, the chief executive officer directly owned 190,574 shares of the company’s stock, valued at $18,150,267.76. This trade represents a 5.26% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Naveen K. Chopra sold 19,424 shares of the company’s stock in a transaction on Thursday, November 20th. The shares were sold at an average price of $95.23, for a total transaction of $1,849,747.52. Following the completion of the transaction, the chief financial officer owned 337,036 shares of the company’s stock, valued at $32,095,938.28. This trade represents a 5.45% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 382,508 shares of company stock valued at $40,838,541 over the last quarter. Company insiders own 12.92% of the company’s stock.

Hedge Funds Weigh In On Roblox

Several large investors have recently modified their holdings of the stock. AQR Capital Management LLC raised its stake in Roblox by 217.4% during the first quarter. AQR Capital Management LLC now owns 8,770,427 shares of the company’s stock valued at $504,387,000 after buying an additional 6,007,322 shares in the last quarter. Norges Bank bought a new stake in shares of Roblox in the 2nd quarter valued at approximately $350,720,000. Vanguard Group Inc. raised its position in shares of Roblox by 5.6% during the 3rd quarter. Vanguard Group Inc. now owns 62,437,998 shares of the company’s stock valued at $8,648,911,000 after acquiring an additional 3,284,073 shares in the last quarter. Ieq Capital LLC lifted its stake in Roblox by 13.8% during the first quarter. Ieq Capital LLC now owns 18,889,973 shares of the company’s stock worth $1,101,097,000 after purchasing an additional 2,297,350 shares during the last quarter. Finally, Amundi boosted its holdings in Roblox by 55.5% in the first quarter. Amundi now owns 4,960,806 shares of the company’s stock worth $288,818,000 after purchasing an additional 1,769,669 shares during the period. Institutional investors own 94.46% of the company’s stock.

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.