Roblox (NYSE:RBLX) Shares Gap Up on Analyst Upgrade

Roblox Co. (NYSE:RBLX)’s stock price gapped up before the market opened on Wednesday after JPMorgan Chase & Co. raised their price target on the stock from $50.00 to $51.00. The stock had previously closed at $41.29, but opened at $42.40. JPMorgan Chase & Co. currently has an overweight rating on the stock. Roblox shares last traded at $41.87, with a volume of 1,375,586 shares.

A number of other equities research analysts have also weighed in on RBLX. Barclays raised their price objective on shares of Roblox from $35.00 to $40.00 and gave the company an “equal weight” rating in a report on Friday, August 2nd. Benchmark raised their price objective on shares of Roblox from $40.00 to $44.00 and gave the company a “buy” rating in a report on Friday, August 2nd. Citigroup raised their price objective on shares of Roblox from $46.00 to $53.00 and gave the company a “buy” rating in a report on Wednesday, September 25th. Jefferies Financial Group initiated coverage on shares of Roblox in a report on Thursday, July 11th. They issued a “hold” rating and a $42.00 price objective on the stock. Finally, Wedbush reiterated an “outperform” rating and set a $49.00 price target on shares of Roblox in a research note on Wednesday, October 9th. Eight analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Roblox presently has an average rating of “Moderate Buy” and an average target price of $46.29.

Insider Buying and Selling

In other Roblox news, CEO David Baszucki sold 166,666 shares of Roblox stock in a transaction dated Thursday, August 22nd. The shares were sold at an average price of $43.55, for a total transaction of $7,258,304.30. Following the completion of the transaction, the chief executive officer now owns 135,761 shares in the company, valued at approximately $5,912,391.55. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other Roblox news, CEO David Baszucki sold 166,666 shares of Roblox stock in a transaction dated Thursday, August 22nd. The shares were sold at an average price of $43.55, for a total transaction of $7,258,304.30. Following the completion of the transaction, the chief executive officer now owns 135,761 shares in the company, valued at approximately $5,912,391.55. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Gregory Baszucki sold 13,000 shares of Roblox stock in a transaction dated Wednesday, September 25th. The stock was sold at an average price of $47.75, for a total transaction of $620,750.00. Following the transaction, the director now owns 9,662,103 shares of the company’s stock, valued at approximately $461,365,418.25. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 612,673 shares of company stock valued at $26,805,956. Corporate insiders own 22.15% of the company’s stock.

Institutional Investors Weigh In On Roblox

A number of institutional investors have recently bought and sold shares of RBLX. DekaBank Deutsche Girozentrale grew its stake in Roblox by 2.4% during the first quarter. DekaBank Deutsche Girozentrale now owns 60,520 shares of the company’s stock worth $2,318,000 after buying an additional 1,419 shares during the period. Dragoneer Investment Group LLC grew its stake in Roblox by 26.9% during the second quarter. Dragoneer Investment Group LLC now owns 11,745,203 shares of the company’s stock worth $437,039,000 after buying an additional 2,488,044 shares during the period. SteelPeak Wealth LLC grew its stake in Roblox by 41.4% during the first quarter. SteelPeak Wealth LLC now owns 11,091 shares of the company’s stock worth $423,000 after buying an additional 3,247 shares during the period. Itau Unibanco Holding S.A. grew its stake in Roblox by 62.0% during the second quarter. Itau Unibanco Holding S.A. now owns 37,482 shares of the company’s stock worth $1,395,000 after buying an additional 14,348 shares during the period. Finally, Sei Investments Co. grew its stake in Roblox by 18.3% during the first quarter. Sei Investments Co. now owns 288,112 shares of the company’s stock worth $11,000,000 after buying an additional 44,557 shares during the period. 91.08% of the stock is currently owned by hedge funds and other institutional investors.

Roblox Trading Down 0.3 %

The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 9.04. The firm’s 50 day simple moving average is $43.19 and its 200-day simple moving average is $39.01. The company has a market capitalization of $24.33 billion, a PE ratio of -22.12 and a beta of 1.60.

Roblox (NYSE:RBLX) last announced its earnings results on Thursday, August 1st. The company reported ($0.32) earnings per share for the quarter, beating the consensus estimate of ($0.39) by $0.07. The business had revenue of $893.50 million during the quarter, compared to the consensus estimate of $897.88 million. Roblox had a negative net margin of 34.12% and a negative return on equity of 1,187.59%. The business’s quarterly revenue was up 31.2% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.46) earnings per share. As a group, equities research analysts anticipate that Roblox Co. will post -1.58 EPS for the current year.

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.