Roblox (NYSE:RBLX) Price Target Raised to $45.00 at Deutsche Bank Aktiengesellschaft

Roblox (NYSE:RBLX) had its price target raised by Deutsche Bank Aktiengesellschaft from $40.00 to $45.00 in a research report sent to investors on Friday, Benzinga reports. Deutsche Bank Aktiengesellschaft currently has a buy rating on the stock.

A number of other equities research analysts have also recently weighed in on RBLX. Moffett Nathanson upgraded Roblox from a sell rating to a neutral rating and reduced their price objective for the company from $31.00 to $26.00 in a research note on Friday, May 10th. Jefferies Financial Group assumed coverage on Roblox in a report on Thursday, July 11th. They issued a hold rating and a $42.00 target price on the stock. Stifel Nicolaus reissued a buy rating and issued a $53.00 target price on shares of Roblox in a report on Monday, April 22nd. Wedbush reaffirmed an outperform rating and set a $46.00 price objective on shares of Roblox in a report on Monday, July 29th. Finally, Wolfe Research began coverage on Roblox in a report on Tuesday, July 16th. They set a peer perform rating on the stock. Eight research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of Moderate Buy and an average price target of $44.50.

Roblox Trading Up 1.7 %

Roblox stock traded up $0.62 during midday trading on Friday, reaching $37.15. 1,845,862 shares of the stock traded hands, compared to its average volume of 7,405,412. The company has a 50-day simple moving average of $37.56 and a two-hundred day simple moving average of $38.04. Roblox has a 12-month low of $24.88 and a 12-month high of $47.20. The firm has a market cap of $21.97 billion, a PE ratio of -19.78 and a beta of 1.60. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 16.04.

Roblox (NYSE:RBLX) last posted its earnings results on Thursday, August 1st. The company reported ($0.32) earnings per share for the quarter, topping the consensus estimate of ($0.39) by $0.07. Roblox had a negative return on equity of 1,285.39% and a negative net margin of 34.12%. The firm had revenue of $893.50 million during the quarter, compared to analysts’ expectations of $897.88 million. During the same quarter in the previous year, the business earned ($0.46) earnings per share. The firm’s revenue was up 31.2% compared to the same quarter last year. Research analysts expect that Roblox will post -1.66 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CAO Amy Marie Rawlings sold 3,910 shares of the firm’s stock in a transaction that occurred on Tuesday, May 21st. The stock was sold at an average price of $32.56, for a total value of $127,309.60. Following the sale, the chief accounting officer now owns 98,457 shares of the company’s stock, valued at approximately $3,205,759.92. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, Director Andrea L. Wong sold 5,276 shares of Roblox stock in a transaction on Monday, May 13th. The stock was sold at an average price of $31.13, for a total transaction of $164,241.88. Following the transaction, the director now directly owns 26,319 shares in the company, valued at approximately $819,310.47. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CAO Amy Marie Rawlings sold 3,910 shares of Roblox stock in a transaction on Tuesday, May 21st. The shares were sold at an average price of $32.56, for a total value of $127,309.60. Following the transaction, the chief accounting officer now owns 98,457 shares in the company, valued at $3,205,759.92. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 476,889 shares of company stock valued at $17,575,955. Insiders own 22.15% of the company’s stock.

Hedge Funds Weigh In On Roblox

Hedge funds have recently modified their holdings of the stock. Allspring Global Investments Holdings LLC acquired a new position in shares of Roblox in the 4th quarter worth $25,000. PARK CIRCLE Co acquired a new position in shares of Roblox in the 2nd quarter worth $30,000. Gilliland Jeter Wealth Management LLC grew its holdings in shares of Roblox by 102.4% in the 2nd quarter. Gilliland Jeter Wealth Management LLC now owns 1,000 shares of the company’s stock worth $37,000 after acquiring an additional 506 shares during the last quarter. Washington Trust Advisors Inc. purchased a new position in shares of Roblox during the first quarter valued at $39,000. Finally, Blue Trust Inc. grew its holdings in shares of Roblox by 566.5% during the fourth quarter. Blue Trust Inc. now owns 1,073 shares of the company’s stock valued at $49,000 after buying an additional 912 shares in the last quarter. 91.08% of the stock is currently owned by institutional investors and hedge funds.

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.