Roblox (NYSE:RBLX) Earns Buy Rating from Benchmark

Roblox (NYSE:RBLX)‘s stock had its “buy” rating reaffirmed by equities researchers at Benchmark in a report issued on Tuesday,Benzinga reports. They currently have a $71.00 price target on the stock. Benchmark’s price target suggests a potential upside of 27.09% from the company’s previous close.

RBLX has been the topic of a number of other reports. Moffett Nathanson lowered Roblox from a “neutral” rating to a “sell” rating and set a $34.00 target price on the stock. in a report on Friday, February 7th. Raymond James reissued a “strong-buy” rating and set a $60.00 target price on shares of Roblox in a report on Friday, November 22nd. Wedbush reaffirmed an “outperform” rating and issued a $83.00 price objective on shares of Roblox in a report on Friday, February 7th. Macquarie upped their price objective on Roblox from $71.00 to $76.00 and gave the company an “outperform” rating in a report on Friday, February 7th. Finally, Wells Fargo & Company increased their target price on Roblox from $58.00 to $76.00 and gave the stock an “overweight” rating in a report on Thursday, January 16th. One analyst has rated the stock with a sell rating, six have assigned a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $64.19.

Roblox Stock Down 1.9 %

Shares of NYSE:RBLX traded down $1.10 during trading on Tuesday, hitting $55.87. 387,224 shares of the company’s stock traded hands, compared to its average volume of 7,608,992. Roblox has a 52 week low of $29.55 and a 52 week high of $75.74. The company has a current ratio of 1.02, a quick ratio of 0.98 and a debt-to-equity ratio of 4.82. The company has a market cap of $34.58 billion, a price-to-earnings ratio of -38.53 and a beta of 1.49. The company has a 50-day moving average price of $63.81 and a 200-day moving average price of $54.57.

Roblox (NYSE:RBLX) last released its quarterly earnings data on Thursday, February 6th. The company reported ($0.33) earnings per share for the quarter, beating 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%. As a group, research analysts forecast that Roblox will post -1.49 EPS for the current fiscal year.

Insider Activity

In related news, CAO Amy Marie Rawlings sold 5,879 shares of the firm’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 sale, the chief accounting officer now owns 75,528 shares of the company’s stock, valued at $4,909,320. This trade represents a 7.22 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Arvind Chakravarthy sold 982 shares of the firm’s stock in a transaction that occurred on Thursday, February 27th. The stock was sold at an average price of $61.26, for a total value of $60,157.32. Following the sale, the insider now directly owns 204,261 shares of the company’s stock, valued at $12,513,028.86. This represents a 0.48 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 916,367 shares of company stock valued at $59,700,949. Company insiders own 22.15% of the company’s stock.

Institutional Investors Weigh In On Roblox

A number of hedge funds have recently added to or reduced their stakes in the company. MetLife Investment Management LLC grew its stake in Roblox by 0.5% in the fourth quarter. MetLife Investment Management LLC now owns 32,374 shares of the company’s stock valued at $1,873,000 after acquiring an additional 161 shares during the period. Rakuten Securities Inc. grew its stake in Roblox by 25.6% in the fourth 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. Simon Quick Advisors LLC grew its stake in Roblox by 4.6% in the fourth quarter. Simon Quick Advisors LLC now owns 4,915 shares of the company’s stock valued at $284,000 after acquiring an additional 217 shares during the period. Parkside Financial Bank & Trust grew its stake in Roblox by 44.5% in the fourth 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, Versant Capital Management Inc grew its stake in Roblox by 83.9% in the fourth quarter. Versant Capital Management Inc now owns 524 shares of the company’s stock valued at $30,000 after acquiring an additional 239 shares during the period. 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.