FBN Securities Initiates Coverage on Roblox (NYSE:RBLX)

Stock analysts at FBN Securities assumed coverage on shares of Roblox (NYSE:RBLX) in a research note issued to investors on Friday, Marketbeat reports. The brokerage set a “sector perform” rating and a $65.00 price target on the stock. FBN Securities’ target price points to a potential upside of 9.14% from the company’s previous close.

Several other research firms have also weighed in on RBLX. HSBC assumed coverage on shares of Roblox in a research note on Thursday, December 12th. They issued a “buy” rating and a $63.00 price objective for the company. Barclays dropped their price objective on shares of Roblox from $50.00 to $46.00 and set an “equal weight” rating on the stock in a report on Friday, February 7th. Wedbush restated an “outperform” rating and issued a $83.00 target price on shares of Roblox in a research note on Friday, February 7th. Piper Sandler reaffirmed an “overweight” rating and issued a $72.00 target price (up from $65.00) on shares of Roblox in a research report on Tuesday, January 28th. Finally, Macquarie increased their price target on Roblox from $71.00 to $76.00 and gave the stock an “outperform” rating in a report on Friday, February 7th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Roblox currently has a consensus rating of “Moderate Buy” and an average price target of $64.23.

Roblox Stock Down 1.3 %

Shares of NYSE RBLX opened at $59.55 on Friday. The company’s 50 day moving average price is $63.35 and its 200-day moving average price is $55.30. The company has a debt-to-equity ratio of 4.82, a quick ratio of 0.98 and a current ratio of 1.02. Roblox has a 52-week low of $29.55 and a 52-week high of $75.74. The company has a market capitalization of $36.86 billion, a P/E ratio of -41.07 and a beta of 1.49.

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

Insiders Place Their Bets

In other Roblox news, CAO Amy Marie Rawlings sold 5,879 shares of Roblox stock in a transaction dated Thursday, January 16th. The shares were sold at an average price of $65.00, for a total value of $382,135.00. Following the sale, 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 sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Mark Reinstra sold 50,000 shares of the stock in a transaction that occurred on Thursday, January 16th. The shares were sold at an average price of $64.98, for a total transaction of $3,249,000.00. Following the transaction, the insider now directly owns 281,161 shares of the company’s stock, valued at $18,269,841.78. This represents a 15.10 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 926,466 shares of company stock valued at $60,212,297. Insiders own 22.15% of the company’s stock.

Hedge Funds Weigh In On Roblox

Several institutional investors have recently bought and sold shares of RBLX. Versant Capital Management Inc raised its stake in shares of 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 buying an additional 239 shares during the period. Gordian Capital Singapore Pte Ltd increased its holdings in Roblox by 74.8% in the 4th quarter. Gordian Capital Singapore Pte Ltd now owns 561 shares of the company’s stock worth $32,000 after acquiring an additional 240 shares during the last quarter. Colonial Trust Co SC purchased a new stake in Roblox in the 4th quarter worth about $41,000. Parkside Financial Bank & Trust raised its stake in Roblox by 44.5% in 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. lifted its holdings in Roblox by 25.6% during the fourth quarter. Rakuten Securities Inc. now owns 958 shares of the company’s stock valued at $55,000 after purchasing an additional 195 shares during the last quarter. Hedge funds and other institutional investors own 94.46% of the company’s stock.

Roblox Company Profile

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.