Roblox (NYSE:RBLX) Price Target Lowered to $78.00 at Wells Fargo & Company

Roblox (NYSE:RBLX) had its target price reduced by Wells Fargo & Company from $97.00 to $78.00 in a report released on Monday, MarketBeat Ratings reports. They currently have an overweight rating on the stock.

A number of other equities analysts have also recently weighed in on the company. Wolfe Research set a $100.00 price target on Roblox in a report on Monday, January 5th. Canaccord Genuity Group cut their price target on Roblox from $160.00 to $140.00 and set a “buy” rating for the company in a report on Tuesday, February 3rd. BMO Capital Markets reissued an “outperform” rating on shares of Roblox in a report on Friday, February 6th. Oppenheimer cut their price target on Roblox from $150.00 to $130.00 and set an “outperform” rating for the company in a report on Friday, February 6th. Finally, B. Riley Financial assumed coverage on Roblox in a report on Tuesday, December 9th. They issued a “buy” rating and a $125.00 price target for the company. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, seven have issued a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, Roblox presently has an average rating of “Moderate Buy” and a consensus target price of $116.76.

Roblox Stock Performance

Shares of RBLX stock opened at $57.12 on Monday. The stock has a fifty day moving average price of $62.78 and a 200 day moving average price of $88.86. The stock has a market cap of $37.79 billion, a PE ratio of -36.85 and a beta of 1.67. Roblox has a 1 year low of $50.10 and a 1 year high of $150.59. The company has a debt-to-equity ratio of 2.65, a quick ratio of 0.96 and a current ratio of 0.96.

Roblox (NYSE:RBLX) last issued its quarterly earnings data on Thursday, February 5th. The company reported ($0.45) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.49) by $0.04. The firm had revenue of $1.42 billion during the quarter, compared to analysts’ expectations of $2.08 billion. Roblox had a negative return on equity of 304.42% and a negative net margin of 21.78%.Roblox’s revenue was up 122.6% on a year-over-year basis. During the same period in the previous year, the firm posted ($0.33) earnings per share. Sell-side analysts forecast that Roblox will post -1.49 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Roblox news, insider Mark Reinstra sold 60,000 shares of the company’s stock in a transaction that occurred on Friday, February 13th. The stock was sold at an average price of $63.94, for a total transaction of $3,836,400.00. Following the sale, the insider owned 394,322 shares in the company, valued at $25,212,948.68. This represents a 13.21% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider Matthew D. Kaufman sold 30,034 shares of the company’s stock in a transaction that occurred on Tuesday, February 10th. The shares were sold at an average price of $72.65, for a total value of $2,181,970.10. Following the sale, the insider owned 307,263 shares in the company, valued at $22,322,656.95. The trade was a 8.90% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 593,914 shares of company stock valued at $42,261,697. Insiders own 12.92% of the company’s stock.

Institutional Trading of Roblox

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. WPG Advisers LLC raised its position in shares of Roblox by 17.8% during the 3rd quarter. WPG Advisers LLC now owns 555 shares of the company’s stock worth $77,000 after purchasing an additional 84 shares during the period. Baird Financial Group Inc. grew its holdings in Roblox by 1.4% in the 2nd quarter. Baird Financial Group Inc. now owns 7,294 shares of the company’s stock worth $767,000 after buying an additional 102 shares in the last quarter. Sunbelt Securities Inc. grew its holdings in Roblox by 58.7% in the 3rd quarter. Sunbelt Securities Inc. now owns 284 shares of the company’s stock worth $39,000 after buying an additional 105 shares in the last quarter. Brown Brothers Harriman & Co. grew its holdings in Roblox by 2.8% in the 3rd quarter. Brown Brothers Harriman & Co. now owns 4,042 shares of the company’s stock worth $560,000 after buying an additional 110 shares in the last quarter. Finally, QTR Family Wealth LLC grew its holdings in Roblox by 2.6% in the 3rd quarter. QTR Family Wealth LLC now owns 4,446 shares of the company’s stock worth $616,000 after buying an additional 111 shares in the last quarter. 94.46% of the stock is currently owned by institutional investors and hedge funds.

Roblox Company Profile

Roblox Corporation operates Roblox, a user-generated online platform that enables people to create, share and monetize immersive 3D experiences and games. The core offering centers on Roblox Studio, a development environment that allows independent creators and studios to design interactive worlds using the company’s building tools and scripting language. Content on the platform spans games, virtual hangouts, branded experiences and live events, all delivered through a persistent social environment.

Roblox’s business model is built around its virtual economy and creator ecosystem.