Roblox (NYSE:RBLX) Price Target Raised to $116.00

Roblox (NYSE:RBLX - Get Free Report) had its price objective increased by stock analysts at Wells Fargo & Company from $78.00 to $116.00 in a report released on Friday,Benzinga reports. The firm currently has an "overweight" rating on the stock. Wells Fargo & Company's price target suggests a potential upside of 10.45% from the stock's previous close.

RBLX has been the subject of a number of other research reports. Morgan Stanley reduced their target price on Roblox from $75.00 to $70.00 and set an "overweight" rating for the company in a report on Thursday, April 17th. The Goldman Sachs Group boosted their price objective on shares of Roblox from $63.00 to $80.00 and gave the stock a "neutral" rating in a report on Wednesday, May 14th. Piper Sandler reiterated an "overweight" rating and set a $105.00 price target (up from $85.00) on shares of Roblox in a research report on Thursday, June 5th. Citigroup reaffirmed an "overweight" rating on shares of Roblox in a research note on Monday, June 16th. Finally, Canaccord Genuity Group boosted their target price on Roblox from $80.00 to $84.00 and gave the stock a "buy" rating in a research report on Friday, May 2nd. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $79.70.

Roblox Stock Performance

Shares of RBLX stock traded up $0.02 during trading hours on Friday, hitting $105.02. The stock had a trading volume of 942,704 shares, compared to its average volume of 7,941,582. The stock's 50 day moving average is $83.21 and its 200 day moving average is $68.85. Roblox has a twelve month low of $35.30 and a twelve month high of $106.32. The firm has a market capitalization of $71.24 billion, a PE ratio of -78.44 and a beta of 1.56. The company has a debt-to-equity ratio of 3.39, a current ratio of 1.02 and a quick ratio of 1.02.

Roblox (NYSE:RBLX - Get Free Report) last announced its earnings results on Thursday, May 1st. The company reported ($0.32) earnings per share for the quarter, beating the consensus estimate of ($0.41) by $0.09. Roblox had a negative return on equity of 442.68% and a negative net margin of 22.94%. The company had revenue of $1.04 billion for the quarter, compared to the consensus estimate of $1.14 billion. During the same period last year, the business posted ($0.43) EPS. The company's revenue was up 30.6% on a year-over-year basis. As a group, research analysts forecast that Roblox will post -1.49 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Roblox news, CEO David Baszucki sold 47,928 shares of the firm's stock in a transaction dated Wednesday, June 25th. The stock was sold at an average price of $105.14, for a total transaction of $5,039,149.92. Following the transaction, the chief executive officer now owns 211,559 shares in the company, valued at approximately $22,243,313.26. This trade represents a 18.47% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Michael Guthrie sold 50,000 shares of the business's stock in a transaction dated Thursday, April 3rd. The stock was sold at an average price of $58.79, for a total value of $2,939,500.00. Following the transaction, the chief financial officer now owns 516,434 shares of the company's stock, valued at $30,361,154.86. The trade was a 8.83% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 6,712,649 shares of company stock worth $584,262,803 in the last three months. Insiders own 12.92% of the company's stock.

Institutional Investors Weigh In On Roblox

Large investors have recently made changes to their positions in the stock. MetLife Investment Management LLC raised its holdings in Roblox by 0.5% during the fourth quarter. MetLife Investment Management LLC now owns 32,374 shares of the company's stock worth $1,873,000 after acquiring an additional 161 shares in the last quarter. SBI Securities Co. Ltd. raised its position in Roblox by 1.2% during the first quarter. SBI Securities Co. Ltd. now owns 13,295 shares of the company's stock worth $775,000 after acquiring an additional 163 shares in the last quarter. Commerce Bank raised its holdings in shares of Roblox by 2.7% in the 1st quarter. Commerce Bank now owns 7,257 shares of the company's stock valued at $423,000 after purchasing an additional 191 shares during the period. Advisors Asset Management Inc. lifted its stake in Roblox by 6.1% in the 1st quarter. Advisors Asset Management Inc. now owns 3,323 shares of the company's stock valued at $194,000 after purchasing an additional 192 shares during the last quarter. Finally, Rakuten Securities Inc. raised its stake in Roblox by 25.6% in the fourth quarter. Rakuten Securities Inc. now owns 958 shares of the company's stock valued at $55,000 after buying an additional 195 shares during the period. Institutional investors own 94.46% of the company's stock.

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.

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