Roblox (NYSE:RBLX) Given “Buy” Rating at Benchmark

Benchmark reiterated their buy rating on shares of Roblox (NYSE:RBLX) in a research note published on Tuesday morning,Benzinga reports. Benchmark currently has a $71.00 target price on the stock.

Several other research firms have also recently issued reports on RBLX. Moffett Nathanson cut Roblox from a “neutral” rating to a “sell” rating and set a $34.00 target price on the stock. in a research note on Friday, February 7th. Barclays cut their price objective on Roblox from $50.00 to $46.00 and set an “equal weight” rating on the stock in a research report on Friday, February 7th. JPMorgan Chase & Co. lifted their price objective on Roblox from $62.00 to $72.00 and gave the company an “overweight” rating in a research report on Friday, January 10th. Piper Sandler reaffirmed an “overweight” rating and set a $72.00 price objective (up from $65.00) on shares of Roblox in a research report on Tuesday, January 28th. Finally, Citigroup lifted their price objective on Roblox from $63.00 to $82.00 and gave the company a “buy” rating in a research report on Monday, February 3rd. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Roblox currently has an average rating of “Moderate Buy” and an average target price of $64.19.

Roblox Stock Down 1.6 %

Shares of NYSE:RBLX opened at $56.04 on Tuesday. The stock’s 50-day moving average price is $63.71 and its 200-day moving average price is $54.65. Roblox has a 12-month low of $29.55 and a 12-month high of $75.74. The stock has a market capitalization of $34.69 billion, a P/E ratio of -38.64 and a beta of 1.49. The company has a current ratio of 1.02, a quick ratio of 0.98 and a debt-to-equity ratio of 4.82.

Roblox (NYSE:RBLX) last posted its earnings results on Thursday, February 6th. The company reported ($0.33) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.46) by $0.13. Roblox had a negative return on equity of 665.98% and a negative net margin of 25.97%. On average, equities analysts anticipate that Roblox will post -1.49 earnings per share for the current year.

Insider Buying and Selling

In related news, insider Mark Reinstra sold 24,000 shares of the business’s stock in a transaction that occurred on Monday, December 23rd. The shares were sold at an average price of $59.75, for a total value of $1,434,000.00. Following the completion of the transaction, the insider now directly owns 278,161 shares in the company, valued at $16,620,119.75. The trade was a 7.94 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Amy Marie Rawlings sold 5,879 shares of the business’s stock in a transaction that occurred on Thursday, January 16th. The stock was sold at an average price of $65.00, for a total transaction of $382,135.00. Following the completion of the transaction, the chief accounting officer now owns 75,528 shares of the company’s stock, valued at approximately $4,909,320. The trade was a 7.22 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 916,367 shares of company stock worth $59,700,949 in the last three months. Insiders own 22.15% of the company’s stock.

Institutional Investors Weigh In On Roblox

Hedge funds have recently added to or reduced their stakes in the stock. Versant Capital Management Inc raised its stake in Roblox by 83.9% during the 4th quarter. Versant Capital Management Inc now owns 524 shares of the company’s stock valued at $30,000 after buying an additional 239 shares during the last quarter. Gordian Capital Singapore Pte Ltd grew its position in shares of Roblox by 74.8% during the 4th quarter. Gordian Capital Singapore Pte Ltd now owns 561 shares of the company’s stock valued at $32,000 after acquiring an additional 240 shares during the period. Colonial Trust Co SC bought a new stake in shares of Roblox during the 4th quarter valued at $41,000. Parkside Financial Bank & Trust grew its position in shares of Roblox by 44.5% during the 4th quarter. Parkside Financial Bank & Trust now owns 747 shares of the company’s stock valued at $43,000 after acquiring an additional 230 shares during the period. Finally, Rakuten Securities Inc. grew its position in shares of Roblox by 25.6% during the 4th quarter. Rakuten Securities Inc. now owns 958 shares of the company’s stock valued at $55,000 after acquiring an additional 195 shares during the period. 94.46% of the stock is currently owned by hedge funds and other institutional investors.

About Roblox

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.