Brokerages Set Roblox Co. (NYSE:RBLX) PT at $44.15

Roblox Co. (NYSE:RBLX) has earned an average recommendation of “Moderate Buy” from the twenty-two analysts that are currently covering the firm, MarketBeat Ratings reports. Eight research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company. The average twelve-month price objective among analysts that have updated their coverage on the stock in the last year is $44.15.

RBLX has been the subject of a number of analyst reports. Jefferies Financial Group initiated coverage on Roblox in a research report on Thursday, July 11th. They issued a “hold” rating and a $42.00 price target for the company. Morgan Stanley reduced their price target on Roblox from $42.00 to $35.00 and set an “equal weight” rating for the company in a research report on Friday, May 10th. Barclays boosted their price target on Roblox from $35.00 to $40.00 and gave the stock an “equal weight” rating in a research report on Friday, August 2nd. Wolfe Research started coverage on Roblox in a research report on Tuesday, July 16th. They set a “peer perform” rating for the company. Finally, Benchmark boosted their price objective on Roblox from $40.00 to $44.00 and gave the stock a “buy” rating in a research report on Friday, August 2nd.

Roblox Stock Performance

Shares of NYSE RBLX opened at $44.16 on Monday. The business’s 50-day moving average price is $38.96 and its two-hundred day moving average price is $38.02. The company has a debt-to-equity ratio of 9.04, a current ratio of 1.03 and a quick ratio of 1.03. Roblox has a one year low of $24.88 and a one year high of $47.20. The company has a market capitalization of $26.11 billion, a P/E ratio of -23.74 and a beta of 1.60.

Roblox (NYSE:RBLX) last announced its quarterly earnings results on Thursday, August 1st. The company reported ($0.32) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.39) by $0.07. Roblox had a negative return on equity of 1,187.59% and a negative net margin of 34.12%. The company had revenue of $893.50 million during the quarter, compared to analysts’ expectations of $897.88 million. During the same quarter in the previous year, the firm earned ($0.46) earnings per share. The business’s quarterly revenue was up 31.2% compared to the same quarter last year. Analysts anticipate that Roblox will post -1.59 earnings per share for the current fiscal year.

Insider Buying and Selling at Roblox

In other Roblox news, CAO Amy Marie Rawlings sold 4,933 shares of the company’s stock in a transaction that occurred on Tuesday, August 20th. The stock was sold at an average price of $40.35, for a total value of $199,046.55. Following the completion of the transaction, the chief accounting officer now owns 99,617 shares of the company’s stock, valued at approximately $4,019,545.95. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, CEO David Baszucki sold 5,724 shares of the company’s stock in a transaction that occurred on Thursday, May 30th. The stock was sold at an average price of $33.30, for a total value of $190,609.20. Following the sale, the chief executive officer now directly owns 142,260 shares in the company, valued at approximately $4,737,258. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CAO Amy Marie Rawlings sold 4,933 shares of the company’s stock in a transaction that occurred on Tuesday, August 20th. The shares were sold at an average price of $40.35, for a total value of $199,046.55. Following the completion of the sale, the chief accounting officer now owns 99,617 shares in the company, valued at $4,019,545.95. The disclosure for this sale can be found here. Insiders sold a total of 502,149 shares of company stock valued at $19,076,307 in the last quarter. Corporate insiders own 22.15% of the company’s stock.

Institutional Investors Weigh In On Roblox

Several large investors have recently modified their holdings of RBLX. Cetera Investment Advisers grew its position in Roblox by 4.4% during the 2nd quarter. Cetera Investment Advisers now owns 41,332 shares of the company’s stock worth $1,538,000 after acquiring an additional 1,748 shares during the last quarter. Greenvale Capital LLP bought a new stake in Roblox during the 2nd quarter worth approximately $89,304,000. Truist Financial Corp bought a new stake in Roblox during the 2nd quarter worth approximately $559,000. Sunbelt Securities Inc. grew its position in Roblox by 43.7% during the 2nd quarter. Sunbelt Securities Inc. now owns 3,289 shares of the company’s stock worth $122,000 after acquiring an additional 1,000 shares during the last quarter. Finally, Northwestern Mutual Wealth Management Co. grew its position in Roblox by 6.0% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 10,623 shares of the company’s stock worth $395,000 after acquiring an additional 605 shares during the last quarter. 91.08% of the stock is currently owned by 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.