Roblox (NYSE:RBLX) Given New $82.00 Price Target at Citigroup

Roblox (NYSE:RBLX) had its price target hoisted by Citigroup from $63.00 to $82.00 in a research note published on Monday,Benzinga reports. They currently have a buy rating on the stock.

A number of other brokerages have also weighed in on RBLX. Needham & Company LLC upped their price target on shares of Roblox from $50.00 to $60.00 and gave the stock a “buy” rating in a research note on Friday, November 1st. Wells Fargo & Company increased their target price on Roblox from $58.00 to $76.00 and gave the company an “overweight” rating in a report on Thursday, January 16th. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Roblox from $45.00 to $60.00 and gave the company a “buy” rating in a research report on Monday, November 4th. Morgan Stanley upped their price target on shares of Roblox from $65.00 to $75.00 and gave the stock an “overweight” rating in a research note on Monday, January 13th. Finally, HSBC initiated coverage on Roblox in a research report on Thursday, December 12th. They set a “buy” rating and a $63.00 price objective for the company. Seven investment analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Roblox currently has a consensus rating of “Moderate Buy” and an average price target of $60.05.

Roblox Trading Down 0.6 %

NYSE RBLX opened at $70.65 on Monday. The company has a debt-to-equity ratio of 5.64, a quick ratio of 0.98 and a current ratio of 0.98. The company has a 50-day simple moving average of $60.77 and a 200-day simple moving average of $49.91. The firm has a market capitalization of $42.92 billion, a PE ratio of -43.08 and a beta of 1.46. Roblox has a one year low of $29.55 and a one year high of $71.89.

Insider Buying and Selling at Roblox

In related news, CEO David Baszucki sold 138,555 shares of Roblox stock in a transaction that occurred on Thursday, January 30th. The shares were sold at an average price of $71.62, for a total transaction of $9,923,309.10. Following the transaction, the chief executive officer now owns 129,301 shares of the company’s stock, valued at $9,260,537.62. This trade represents a 51.73 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Mark Reinstra sold 24,000 shares of Roblox stock in a transaction on Wednesday, January 22nd. The stock was sold at an average price of $65.89, for a total transaction of $1,581,360.00. Following the transaction, the insider now directly owns 281,161 shares in the company, valued at approximately $18,525,698.29. This represents a 7.86 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 1,306,335 shares of company stock worth $77,348,316. Company insiders own 22.15% of the company’s stock.

Institutional Investors Weigh In On Roblox

A number of hedge funds and other institutional investors have recently bought and sold shares of RBLX. Sigma Planning Corp raised its holdings in shares of Roblox by 63.7% in the 4th quarter. Sigma Planning Corp now owns 11,165 shares of the company’s stock valued at $646,000 after purchasing an additional 4,343 shares during the period. O Neil Global Advisors Inc. acquired a new position in shares of Roblox during the 4th quarter worth approximately $1,120,000. Handelsbanken Fonder AB raised its stake in Roblox by 38.8% in the 4th quarter. Handelsbanken Fonder AB now owns 123,856 shares of the company’s stock valued at $7,166,000 after acquiring an additional 34,608 shares during the period. Ieq Capital LLC boosted its position in Roblox by 26.8% during the fourth quarter. Ieq Capital LLC now owns 16,592,623 shares of the company’s stock worth $960,049,000 after purchasing an additional 3,507,901 shares during the period. Finally, Alberta Investment Management Corp bought a new position in shares of Roblox in the fourth quarter valued at about $3,205,000. Institutional investors and hedge funds own 94.46% of the company’s stock.

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.