Roblox (NYSE:RBLX – Free Report) had its price objective hoisted by BMO Capital Markets from $55.00 to $57.00 in a research note released on Thursday morning, Benzinga reports. BMO Capital Markets currently has an outperform rating on the stock.
A number of other research analysts have also recently weighed in on RBLX. Roth Mkm lifted their price objective on shares of Roblox from $50.00 to $55.00 and gave the company a buy rating in a report on Thursday. Wedbush lifted their price target on Roblox from $53.00 to $56.00 and gave the company an outperform rating in a research note on Thursday. Wolfe Research upgraded shares of Roblox from an underperform rating to a peer perform rating in a research report on Friday, November 17th. Benchmark reiterated a buy rating and set a $46.00 price target on shares of Roblox in a research report on Tuesday, January 23rd. Finally, Wells Fargo & Company began coverage on shares of Roblox in a report on Wednesday, December 13th. They set an overweight rating and a $49.00 target price for the company. Six investment analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of Moderate Buy and an average price target of $46.05.
Roblox Price Performance
Roblox (NYSE:RBLX – Get Free Report) last released its quarterly earnings data on Wednesday, February 7th. The company reported ($0.52) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.57) by $0.05. The firm had revenue of $1.13 billion for the quarter, compared to analyst estimates of $1.05 billion. Roblox had a negative net margin of 41.15% and a negative return on equity of 652.99%. The business’s quarterly revenue was up 25.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.48) earnings per share. On average, equities research analysts predict that Roblox will post -2.01 EPS for the current year.
Insider Buying and Selling
In other news, Director Gregory Baszucki sold 8,333 shares of the company’s stock in a transaction on Wednesday, January 24th. The shares were sold at an average price of $41.17, for a total value of $343,069.61. Following the completion of the transaction, the director now owns 9,786,603 shares in the company, valued at approximately $402,914,445.51. The sale was disclosed in a document filed with the SEC, which is available at this link. In other news, Director Gregory Baszucki sold 8,333 shares of the business’s stock in a transaction dated Wednesday, January 24th. The stock was sold at an average price of $41.17, for a total value of $343,069.61. Following the completion of the sale, the director now directly owns 9,786,603 shares of the company’s stock, valued at approximately $402,914,445.51. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Amy Marie Rawlings sold 4,495 shares of the firm’s stock in a transaction that occurred on Tuesday, November 21st. The stock was sold at an average price of $36.70, for a total value of $164,966.50. Following the transaction, the chief accounting officer now owns 97,753 shares in the company, valued at approximately $3,587,535.10. The disclosure for this sale can be found here. Insiders sold a total of 308,272 shares of company stock worth $12,671,049 over the last 90 days. 27.67% of the stock is owned by insiders.
Institutional Inflows and Outflows
A number of institutional investors have recently bought and sold shares of RBLX. Vanguard Group Inc. lifted its position in Roblox by 29.0% during the 3rd quarter. Vanguard Group Inc. now owns 44,593,008 shares of the company’s stock worth $1,291,414,000 after acquiring an additional 10,025,779 shares during the period. State Street Corp increased its stake in Roblox by 2,473.0% in the 2nd quarter. State Street Corp now owns 6,586,856 shares of the company’s stock valued at $216,444,000 after buying an additional 6,330,861 shares during the period. Ieq Capital LLC raised its position in Roblox by 158.0% during the 3rd quarter. Ieq Capital LLC now owns 9,151,748 shares of the company’s stock worth $265,035,000 after buying an additional 5,604,995 shares during the last quarter. Morgan Stanley lifted its stake in shares of Roblox by 13.7% in the 3rd quarter. Morgan Stanley now owns 41,014,115 shares of the company’s stock worth $1,187,769,000 after acquiring an additional 4,927,848 shares during the period. Finally, Norges Bank purchased a new stake in shares of Roblox in the fourth quarter valued at about $81,174,000. 69.92% of the stock is currently owned by institutional investors and hedge funds.
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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