Roblox (NYSE:RBLX) Given New $124.00 Price Target at BTIG Research

Roblox (NYSE:RBLX - Get Free Report) had its price objective increased by equities research analysts at BTIG Research from $73.00 to $124.00 in a research report issued on Tuesday,Benzinga reports. The firm currently has a "buy" rating on the stock. BTIG Research's target price suggests a potential upside of 19.73% from the stock's previous close.

RBLX has been the topic of several other reports. Citigroup reaffirmed an "overweight" rating on shares of Roblox in a research note on Monday, June 16th. Canaccord Genuity Group raised their price target on shares of Roblox from $80.00 to $84.00 and gave the company a "buy" rating in a research note on Friday, May 2nd. Benchmark upped their price objective on shares of Roblox from $71.00 to $77.00 and gave the stock a "buy" rating in a research report on Friday, May 2nd. Piper Sandler reissued an "overweight" rating and issued a $105.00 price objective (up previously from $85.00) on shares of Roblox in a research note on Thursday, June 5th. Finally, Barclays boosted their target price on shares of Roblox from $46.00 to $62.00 and gave the stock an "equal weight" rating in a research note on Friday, May 2nd. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, seventeen have assigned a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $83.52.

Roblox Price Performance

RBLX traded up $1.17 on Tuesday, hitting $103.57. 3,215,401 shares of the stock were exchanged, compared to its average volume of 8,041,105. The firm has a market capitalization of $70.25 billion, a price-to-earnings ratio of -77.29 and a beta of 1.60. 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 has a 12 month low of $35.30 and a 12 month high of $106.17. The business has a 50-day moving average of $88.07 and a two-hundred day moving average of $70.67.

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

Insider Activity at Roblox

In other Roblox news, CEO David Baszucki sold 139,507 shares of Roblox stock in a transaction on Thursday, June 26th. The shares were sold at an average price of $105.19, for a total value of $14,674,741.33. Following the completion of the sale, the chief executive officer directly owned 211,559 shares of the company's stock, valued at approximately $22,253,891.21. The trade was a 39.74% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Anthony P. Lee sold 66,000 shares of the company's stock in a transaction dated Tuesday, July 1st. The shares were sold at an average price of $103.89, for a total transaction of $6,856,740.00. Following the transaction, the director owned 284,488 shares in the company, valued at $29,555,458.32. This represents a 18.83% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 6,868,857 shares of company stock worth $604,140,707 in the last 90 days. Corporate insiders own 12.92% of the company's stock.

Institutional Trading of Roblox

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. FMR LLC increased its holdings in shares of Roblox by 89.4% during the fourth quarter. FMR LLC now owns 39,658,528 shares of the company's stock valued at $2,294,642,000 after acquiring an additional 18,715,837 shares in the last quarter. Wealthfront Advisers LLC raised its holdings in Roblox by 74,400.8% during the fourth quarter. Wealthfront Advisers LLC now owns 17,335,594 shares of the company's stock worth $1,063,365,000 after buying an additional 17,312,325 shares during the last quarter. AQR Capital Management LLC lifted its stake in shares of Roblox by 217.4% in the first quarter. AQR Capital Management LLC now owns 8,770,427 shares of the company's stock valued at $504,387,000 after buying an additional 6,007,322 shares in the last quarter. Arrowstreet Capital Limited Partnership grew its holdings in shares of Roblox by 1,084.2% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 4,813,347 shares of the company's stock valued at $278,500,000 after buying an additional 4,406,885 shares during the last quarter. Finally, Vanguard Group Inc. increased its position in shares of Roblox by 8.3% during the first quarter. Vanguard Group Inc. now owns 57,640,317 shares of the company's stock worth $3,359,854,000 after acquiring an additional 4,400,624 shares in the last quarter. 94.46% of the stock is owned by institutional investors.

Roblox Company Profile

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.