Roblox Co. (NYSE:RBLX – Get Rating)’s share price traded down 7.6% on Friday after Needham & Company LLC lowered their price target on the stock from $55.00 to $53.00. Needham & Company LLC currently has a buy rating on the stock. Roblox traded as low as $38.82 and last traded at $40.21. 390,094 shares traded hands during mid-day trading, a decline of 97% from the average session volume of 14,526,539 shares. The stock had previously closed at $43.50.
Several other equities analysts have also issued reports on RBLX. Wolfe Research assumed coverage on shares of Roblox in a report on Tuesday, August 16th. They issued a “market perform” rating on the stock. Morgan Stanley upped their price objective on shares of Roblox from $25.00 to $32.00 and gave the company an “equal weight” rating in a report on Wednesday, August 10th. Deutsche Bank Aktiengesellschaft upped their price objective on shares of Roblox from $45.00 to $52.00 and gave the company a “buy” rating in a report on Friday, August 12th. Jefferies Financial Group upped their price objective on shares of Roblox from $24.00 to $30.00 in a report on Thursday, June 9th. Finally, Benchmark dropped their price objective on shares of Roblox from $45.00 to $21.00 in a report on Wednesday, June 15th. Three analysts have rated the stock with a sell rating, eight have assigned a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $43.78.
In other news, CEO David Baszucki sold 550,000 shares of the firm’s stock in a transaction on Tuesday, August 23rd. The shares were sold at an average price of $41.41, for a total transaction of $22,775,500.00. Following the sale, the chief executive officer now owns 1 shares in the company, valued at approximately $41.41. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other news, CEO David Baszucki sold 550,000 shares of the firm’s stock in a transaction on Tuesday, August 23rd. The shares were sold at an average price of $41.41, for a total transaction of $22,775,500.00. Following the sale, the chief executive officer now owns 1 shares in the company, valued at approximately $41.41. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Manuel Bronstein sold 2,452 shares of the stock in a transaction on Friday, August 12th. The shares were sold at an average price of $50.03, for a total transaction of $122,673.56. Following the transaction, the insider now directly owns 808,040 shares in the company, valued at approximately $40,426,241.20. The disclosure for this sale can be found here. In the last quarter, insiders have sold 707,960 shares of company stock worth $30,289,182. 28.22% of the stock is currently owned by corporate insiders.
Hedge Funds Weigh In On Roblox
Roblox Price Performance
The business’s 50 day moving average price is $42.60 and its two-hundred day moving average price is $38.74. The stock has a market cap of $21.54 billion, a P/E ratio of -41.58 and a beta of 1.89. The company has a current ratio of 1.65, a quick ratio of 1.65 and a debt-to-equity ratio of 1.79.
Roblox (NYSE:RBLX – Get Rating) last issued its quarterly earnings results on Tuesday, August 9th. The company reported ($0.30) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.24) by ($0.06). Roblox had a negative net margin of 25.11% and a negative return on equity of 95.60%. The business had revenue of $639.90 million for the quarter, compared to analysts’ expectations of $625.43 million. During the same period last year, the business earned ($0.25) earnings per share. The company’s revenue was down 3.8% on a year-over-year basis. As a group, sell-side analysts expect that Roblox Co. will post -1.23 earnings per share for the current fiscal year.
Roblox Company Profile
Roblox Corporation develops and operates an online entertainment platform. The company 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 digital world; Roblox Education for learning experiences; and Roblox Cloud, which provides services and infrastructure that power the human co-experience platform.
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