Citigroup Lowers Roblox (NYSE:RBLX) Price Target to $48.00

Roblox (NYSE:RBLXGet Rating) had its price target trimmed by Citigroup from $55.00 to $48.00 in a research note published on Monday, The Fly reports. The brokerage currently has a buy rating on the stock.

Several other analysts have also issued reports on the company. JPMorgan Chase & Co. lowered Roblox from an overweight rating to a neutral rating and dropped their price objective for the company from $53.00 to $35.00 in a research note on Thursday, November 10th. Wolfe Research started coverage on Roblox in a research note on Tuesday, August 16th. They set a market perform rating on the stock. Piper Sandler lowered their target price on Roblox from $54.00 to $50.00 and set an overweight rating on the stock in a research note on Wednesday, November 9th. DA Davidson lowered their target price on Roblox from $55.00 to $50.00 in a research note on Thursday, November 10th. Finally, Stifel Nicolaus lowered their price objective on Roblox from $50.00 to $48.00 and set a buy rating on the stock in a research note on Tuesday, October 18th. Five analysts have rated the stock with a sell rating, nine have given a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of Hold and an average price target of $40.96.

Roblox Price Performance

RBLX stock opened at $30.77 on Monday. The business has a 50-day moving average of $39.04 and a 200-day moving average of $37.55. Roblox has a fifty-two week low of $21.65 and a fifty-two week high of $141.60. The company has a quick ratio of 1.64, a current ratio of 1.64 and a debt-to-equity ratio of 2.33.

Insider Buying and Selling at Roblox

In other Roblox news, insider Craig Donato sold 7,713 shares of the firm’s stock in a transaction on Wednesday, August 24th. The stock was sold at an average price of $41.60, for a total value of $320,860.80. Following the sale, the insider now owns 1,174,941 shares of the company’s stock, valued at approximately $48,877,545.60. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, insider Barbara Messing sold 21,622 shares of the firm’s stock in a transaction on Monday, September 12th. The stock was sold at an average price of $45.04, for a total transaction of $973,854.88. Following the sale, the insider now owns 152,936 shares of the company’s stock, valued at approximately $6,888,237.44. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Craig Donato sold 7,713 shares of the firm’s stock in a transaction on Wednesday, August 24th. The shares were sold at an average price of $41.60, for a total value of $320,860.80. Following the sale, the insider now directly owns 1,174,941 shares in the company, valued at approximately $48,877,545.60. The disclosure for this sale can be found here. In the last quarter, insiders have sold 37,947 shares of company stock valued at $1,658,056. 28.22% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Roblox

Several hedge funds have recently modified their holdings of the company. D L Carlson Investment Group Inc. acquired a new position in Roblox during the 3rd quarter worth about $5,800,000. National Pension Service acquired a new position in Roblox during the 3rd quarter worth about $20,411,000. CENTRAL TRUST Co lifted its holdings in Roblox by 839.9% during the 3rd quarter. CENTRAL TRUST Co now owns 4,784 shares of the company’s stock worth $171,000 after buying an additional 4,275 shares during the period. M&T Bank Corp lifted its holdings in Roblox by 5.7% during the 3rd quarter. M&T Bank Corp now owns 16,768 shares of the company’s stock worth $600,000 after buying an additional 911 shares during the period. Finally, Captrust Financial Advisors lifted its holdings in Roblox by 60.1% during the 3rd quarter. Captrust Financial Advisors now owns 10,999 shares of the company’s stock worth $394,000 after buying an additional 4,127 shares during the period. Institutional investors and hedge funds own 69.35% of the company’s stock.

Roblox Company Profile

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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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Analyst Recommendations for Roblox (NYSE:RBLX)

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