Macquarie Increases Roblox (NYSE:RBLX) Price Target to $58.00

Roblox (NYSE:RBLX) had its price target raised by Macquarie from $50.00 to $58.00 in a report published on Friday, Benzinga reports. The firm currently has an outperform rating on the stock.

A number of other equities research analysts have also recently commented on RBLX. Citigroup raised their target price on Roblox from $46.00 to $53.00 and gave the company a “buy” rating in a research report on Wednesday, September 25th. Wolfe Research initiated coverage on Roblox in a research note on Tuesday, July 16th. They set a “peer perform” rating for the company. Wedbush reissued an “outperform” rating and issued a $49.00 price target on shares of Roblox in a research note on Friday, October 25th. Wells Fargo & Company upped their price objective on shares of Roblox from $46.00 to $54.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 9th. Finally, Jefferies Financial Group initiated coverage on shares of Roblox in a research report on Thursday, July 11th. They issued a “hold” rating and a $42.00 target price on the stock. Eight investment analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Roblox has a consensus rating of “Moderate Buy” and a consensus target price of $52.55.

Roblox Stock Down 0.5 %

Shares of Roblox stock traded down $0.28 during trading on Friday, hitting $51.44. 12,925,147 shares of the company’s stock were exchanged, compared to its average volume of 9,062,251. The business has a 50-day simple moving average of $43.67 and a 200-day simple moving average of $39.34. Roblox has a 52-week low of $29.55 and a 52-week high of $52.65. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 9.04.

Roblox (NYSE:RBLX) last announced its quarterly earnings results on Thursday, October 31st. The company reported ($0.37) earnings per share for the quarter, beating the consensus estimate of ($0.38) by $0.01. Roblox had a negative return on equity of 1,283.93% and a negative net margin of 30.90%. The company had revenue of $919.00 million during the quarter, compared to analysts’ expectations of $1.02 billion. During the same period last year, the business earned ($0.45) earnings per share. Roblox’s quarterly revenue was up 9.5% on a year-over-year basis. As a group, equities research analysts forecast that Roblox will post -1.58 earnings per share for the current year.

Insider Transactions at Roblox

In other Roblox news, CAO Amy Marie Rawlings sold 4,933 shares of the stock in a transaction that occurred on Tuesday, August 20th. The shares were sold at an average price of $40.35, for a total value of $199,046.55. Following the sale, the chief accounting officer now directly owns 99,617 shares of the company’s stock, valued at approximately $4,019,545.95. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. In other Roblox news, Director Anthony P. Lee sold 27,532 shares of the stock in a transaction that occurred on Thursday, August 22nd. The shares were sold at an average price of $43.52, for a total value of $1,198,192.64. Following the transaction, the director now directly owns 165,190 shares in the company, valued at $7,189,068.80. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CAO Amy Marie Rawlings sold 4,933 shares of the business’s stock in a transaction that occurred on Tuesday, August 20th. The stock was sold at an average price of $40.35, for a total transaction of $199,046.55. Following the sale, the chief accounting officer now owns 99,617 shares of the company’s stock, valued at $4,019,545.95. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 979,341 shares of company stock valued at $43,897,012. 22.15% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. AEGON ASSET MANAGEMENT UK Plc lifted its position in Roblox by 23.2% in the third quarter. AEGON ASSET MANAGEMENT UK Plc now owns 447,067 shares of the company’s stock valued at $19,783,000 after acquiring an additional 84,198 shares during the last quarter. Capital Performance Advisors LLP acquired a new stake in shares of Roblox in the 3rd quarter valued at about $100,000. Principal Financial Group Inc. grew its stake in Roblox by 308.2% during the 3rd quarter. Principal Financial Group Inc. now owns 181,808 shares of the company’s stock worth $8,047,000 after buying an additional 137,267 shares during the last quarter. Gulf International Bank UK Ltd increased its position in Roblox by 8.4% during the third quarter. Gulf International Bank UK Ltd now owns 37,686 shares of the company’s stock worth $1,667,000 after buying an additional 2,932 shares during the period. Finally, Robeco Institutional Asset Management B.V. lifted its stake in Roblox by 724.7% in the third quarter. Robeco Institutional Asset Management B.V. now owns 804,488 shares of the company’s stock valued at $35,607,000 after buying an additional 706,939 shares during the last quarter. 91.08% of the stock is owned by hedge funds and other institutional investors.

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.