Roblox Co. (NYSE:RBLX) Receives Average Recommendation of “Moderate Buy” from Brokerages

Shares of Roblox Co. (NYSE:RBLX) have received an average rating of “Moderate Buy” from the twenty-four analysts that are currently covering the company, MarketBeat Ratings reports. Seven investment analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has assigned a strong buy rating to the company. The average 1 year price target among analysts that have issued a report on the stock in the last year is $56.62.

A number of equities research analysts have commented on RBLX shares. Barclays lifted their target price on shares of Roblox from $40.00 to $50.00 and gave the stock an “equal weight” rating in a research report on Friday, November 1st. Morgan Stanley lifted their price objective on Roblox from $65.00 to $75.00 and gave the stock an “overweight” rating in a report on Monday. Wedbush reiterated an “outperform” rating and set a $49.00 price objective on shares of Roblox in a research report on Friday, October 25th. Benchmark raised their target price on Roblox from $44.00 to $60.00 and gave the stock a “buy” rating in a research report on Friday, November 1st. Finally, HSBC started coverage on shares of Roblox in a research report on Thursday, December 12th. They set a “buy” rating and a $63.00 price target for the company.

Insiders Place Their Bets

In other Roblox news, CAO Amy Marie Rawlings sold 2,186 shares of the company’s stock in a transaction that occurred on Monday, November 4th. The stock was sold at an average price of $52.90, for a total value of $115,639.40. Following the completion of the transaction, the chief accounting officer now directly owns 91,062 shares in the company, valued at $4,817,179.80. This represents a 2.34 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Mark Reinstra sold 24,000 shares of Roblox stock in a transaction that occurred on Monday, December 23rd. The shares were sold at an average price of $59.75, for a total transaction of $1,434,000.00. Following the sale, the insider now owns 278,161 shares in the company, valued at approximately $16,620,119.75. The trade was a 7.94 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 1,254,601 shares of company stock worth $65,622,735. Corporate insiders own 22.15% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. ValueAct Holdings L.P. lifted its position in shares of Roblox by 340.7% in the third quarter. ValueAct Holdings L.P. now owns 10,135,921 shares of the company’s stock worth $448,616,000 after buying an additional 7,835,921 shares in the last quarter. FMR LLC increased its stake in Roblox by 24.5% in the 3rd quarter. FMR LLC now owns 20,942,691 shares of the company’s stock worth $926,924,000 after acquiring an additional 4,115,286 shares during the last quarter. Dragoneer Investment Group LLC raised its holdings in shares of Roblox by 26.9% during the 2nd quarter. Dragoneer Investment Group LLC now owns 11,745,203 shares of the company’s stock worth $437,039,000 after acquiring an additional 2,488,044 shares in the last quarter. Whale Rock Capital Management LLC bought a new position in shares of Roblox during the 3rd quarter valued at approximately $107,491,000. Finally, Greenvale Capital LLP purchased a new position in shares of Roblox in the second quarter valued at $89,304,000. Institutional investors own 94.46% of the company’s stock.

Roblox Trading Up 2.3 %

Shares of NYSE:RBLX opened at $63.69 on Thursday. Roblox has a 1 year low of $29.55 and a 1 year high of $64.43. The stock’s fifty day moving average price is $56.39 and its 200-day moving average price is $47.12. The company has a market cap of $38.69 billion, a P/E ratio of -38.84 and a beta of 1.43. The company has a debt-to-equity ratio of 5.64, a current ratio of 0.98 and a quick ratio of 0.98.

Roblox (NYSE:RBLX) last posted its earnings results on Thursday, October 31st. The company reported ($0.37) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.39) by $0.02. Roblox had a negative net margin of 30.90% and a negative return on equity of 986.36%. The business had revenue of $919.00 million for the quarter, compared to analysts’ expectations of $1.02 billion. During the same quarter in the prior year, the business earned ($0.45) EPS. The business’s revenue for the quarter was up 9.5% compared to the same quarter last year. Sell-side analysts expect that Roblox will post -1.56 earnings per share for the current year.

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.