Citigroup Increases Roblox (NYSE:RBLX) Price Target to $53.00

Roblox (NYSE:RBLX) had its price objective increased by Citigroup from $46.00 to $53.00 in a report published on Wednesday, Benzinga reports. They currently have a buy rating on the stock.

A number of other equities analysts have also commented on the company. Wedbush reissued an outperform rating and issued a $46.00 price objective on shares of Roblox in a research note on Monday, July 29th. Wolfe Research assumed coverage on Roblox in a research note on Tuesday, July 16th. They set a peer perform rating on the stock. Roth Mkm upped their price target on Roblox from $35.00 to $42.00 and gave the company a neutral rating in a research note on Monday, July 29th. Barclays upped their price target on Roblox from $35.00 to $40.00 and gave the company an equal weight rating in a research note on Friday, August 2nd. Finally, Wells Fargo & Company upped their price target on Roblox from $41.00 to $43.00 and gave the company an overweight rating in a research note on Monday, July 8th. Eight equities research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of Moderate Buy and a consensus target price of $44.81.

Roblox Price Performance

Shares of RBLX stock opened at $44.18 on Wednesday. The stock’s fifty day simple moving average is $42.36 and its 200 day simple moving average is $38.55. The company has a debt-to-equity ratio of 9.04, a current ratio of 1.03 and a quick ratio of 1.03. The firm has a market cap of $26.44 billion, a price-to-earnings ratio of -23.75 and a beta of 1.60. Roblox has a one year low of $27.11 and a one year high of $48.43.

Roblox (NYSE:RBLX) last announced its quarterly earnings results on Thursday, August 1st. The company reported ($0.32) EPS for the quarter, beating the consensus estimate of ($0.39) by $0.07. The business had revenue of $893.50 million for the quarter, compared to analyst estimates of $897.88 million. Roblox had a negative return on equity of 1,187.59% and a negative net margin of 34.12%. Roblox’s quarterly revenue was up 31.2% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($0.46) EPS. On average, analysts expect that Roblox will post -1.59 earnings per share for the current fiscal year.

Insider Transactions at Roblox

In other news, insider Mark Reinstra sold 12,000 shares of the company’s stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $40.00, for a total transaction of $480,000.00. Following the completion of the transaction, the insider now directly owns 342,656 shares of the company’s stock, valued at $13,706,240. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, insider Arvind Chakravarthy sold 592 shares of the stock in a transaction that occurred on Tuesday, August 27th. The stock was sold at an average price of $43.32, for a total transaction of $25,645.44. Following the completion of the transaction, the insider now directly owns 276,892 shares of the company’s stock, valued at $11,994,961.44. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Mark Reinstra sold 12,000 shares of the stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $40.00, for a total value of $480,000.00. Following the transaction, the insider now directly owns 342,656 shares of the company’s stock, valued at $13,706,240. The disclosure for this sale can be found here. Insiders sold 792,341 shares of company stock valued at $33,923,126 over the last three months. Company insiders own 22.15% of the company’s stock.

Institutional Trading of Roblox

A number of hedge funds have recently made changes to their positions in RBLX. Dimensional Fund Advisors LP lifted its position in shares of Roblox by 15.5% in the fourth quarter. Dimensional Fund Advisors LP now owns 442,836 shares of the company’s stock valued at $20,250,000 after buying an additional 59,327 shares during the last quarter. Janney Montgomery Scott LLC increased its stake in shares of Roblox by 85.0% during the fourth quarter. Janney Montgomery Scott LLC now owns 13,235 shares of the company’s stock worth $605,000 after purchasing an additional 6,082 shares during the period. PNC Financial Services Group Inc. increased its stake in shares of Roblox by 22.2% during the fourth quarter. PNC Financial Services Group Inc. now owns 13,697 shares of the company’s stock worth $626,000 after purchasing an additional 2,487 shares during the period. US Bancorp DE increased its stake in shares of Roblox by 34.8% during the fourth quarter. US Bancorp DE now owns 65,289 shares of the company’s stock worth $2,985,000 after purchasing an additional 16,869 shares during the period. Finally, Nomura Asset Management Co. Ltd. increased its stake in shares of Roblox by 6.9% during the fourth quarter. Nomura Asset Management Co. Ltd. now owns 107,800 shares of the company’s stock worth $4,929,000 after purchasing an additional 7,000 shares during the period. 91.08% of the stock is 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.