Roblox (NYSE:RBLX) Given New $105.00 Price Target at Citigroup

Roblox (NYSE:RBLX) had its price target trimmed by Citigroup from $119.00 to $105.00 in a report issued on Tuesday,Benzinga reports. The brokerage currently has a buy rating on the stock.

Other equities research analysts have also recently issued research reports about the stock. Freedom Capital upgraded shares of Roblox from a “hold” rating to a “strong-buy” rating in a report on Friday, February 6th. Needham & Company LLC lowered their target price on shares of Roblox from $159.00 to $105.00 and set a “buy” rating for the company in a report on Friday, February 6th. Deutsche Bank Aktiengesellschaft set a $115.00 price target on Roblox in a research report on Tuesday, January 20th. JPMorgan Chase & Co. cut their price target on Roblox from $100.00 to $75.00 and set a “neutral” rating on the stock in a research note on Friday, February 6th. Finally, Benchmark reaffirmed a “hold” rating on shares of Roblox in a research report on Monday, February 2nd. One analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating, eight have assigned a Hold rating and two have issued a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $116.81.

Roblox Stock Performance

Shares of Roblox stock opened at $57.76 on Tuesday. Roblox has a 12 month low of $50.10 and a 12 month high of $150.59. The firm has a market capitalization of $38.22 billion, a P/E ratio of -37.27 and a beta of 1.62. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 2.65. The business has a fifty day simple moving average of $69.05 and a two-hundred day simple moving average of $96.30.

Roblox (NYSE:RBLX) last released its earnings results on Thursday, February 5th. The company reported ($0.45) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.49) by $0.04. Roblox had a negative net margin of 21.78% and a negative return on equity of 304.42%. The firm had revenue of $1.42 billion for the quarter, compared to the consensus estimate of $2.08 billion. During the same period in the prior year, the firm earned ($0.33) EPS. The company’s revenue was up 122.6% compared to the same quarter last year. On average, equities analysts forecast that Roblox will post -1.49 earnings per share for the current fiscal year.

Insider Activity

In related news, insider Mark Reinstra sold 60,000 shares of Roblox 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 completion of the transaction, the insider directly owned 394,322 shares in the company, valued at approximately $25,212,948.68. This trade represents a 13.21% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Anthony P. Lee sold 7,000 shares of the firm’s stock in a transaction dated Tuesday, January 13th. The shares were sold at an average price of $82.45, for a total value of $577,150.00. Following the sale, the director owned 256,768 shares in the company, valued at $21,170,521.60. This trade represents a 2.65% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 703,144 shares of company stock valued at $51,681,640. 12.92% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Roblox

Hedge funds and other institutional investors have recently modified their holdings of the business. Vanguard Group Inc. increased its position in shares of Roblox by 1.6% during the 4th quarter. Vanguard Group Inc. now owns 63,458,784 shares of the company’s stock worth $5,142,065,000 after purchasing an additional 1,020,786 shares during the last quarter. Capital International Investors boosted its holdings in Roblox by 7.3% in the fourth quarter. Capital International Investors now owns 31,953,301 shares of the company’s stock valued at $2,589,282,000 after purchasing an additional 2,184,439 shares during the period. Morgan Stanley lifted its stake in Roblox by 8.1% in the fourth quarter. Morgan Stanley now owns 20,728,914 shares of the company’s stock worth $1,679,664,000 after acquiring an additional 1,555,549 shares during the last quarter. State Street Corp grew its stake in shares of Roblox by 3.3% during the fourth quarter. State Street Corp now owns 13,812,362 shares of the company’s stock worth $1,119,216,000 after purchasing an additional 442,518 shares in the last quarter. Finally, Geode Capital Management LLC boosted its position in shares of Roblox by 4.7% during the 4th quarter. Geode Capital Management LLC now owns 12,220,045 shares of the company’s stock worth $988,002,000 after acquiring an additional 547,103 shares in the last quarter. 94.46% of the stock is owned by hedge funds and other institutional investors.

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.