Roblox (NYSE:RBLX) Trading Up 6.3% on Analyst Upgrade

Roblox Corporation (NYSE:RBLX - Get Free Report) traded up 6.3% on Wednesday after JPMorgan Chase & Co. raised their price target on the stock from $120.00 to $125.00. JPMorgan Chase & Co. currently has an overweight rating on the stock. Roblox traded as high as $119.21 and last traded at $119.60. 6,893,469 shares traded hands during trading, a decline of 14% from the average session volume of 8,060,386 shares. The stock had previously closed at $112.48.

Several other brokerages have also commented on RBLX. Bank of America increased their price objective on Roblox from $86.00 to $103.00 and gave the company a "buy" rating in a research report on Thursday, June 5th. BTIG Research increased their price target on shares of Roblox from $73.00 to $124.00 and gave the company a "buy" rating in a research report on Tuesday, July 1st. 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. Citigroup increased their target price on shares of Roblox from $100.00 to $123.00 and gave the company a "buy" rating in a report on Monday, July 7th. Finally, Macquarie boosted their price target on shares of Roblox from $76.00 to $80.00 and gave the stock an "outperform" rating in a research note on Monday, May 5th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, seventeen have given a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $86.68.

Insider Activity at Roblox

In related news, insider Matthew D. Kaufman sold 6,000 shares of the business's stock in a transaction dated Thursday, July 3rd. The shares were sold at an average price of $102.58, for a total transaction of $615,480.00. Following the transaction, the insider owned 313,223 shares in the company, valued at $32,130,415.34. The trade was a 1.88% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO David Baszucki sold 139,507 shares of the firm's stock in a transaction dated Thursday, June 26th. The stock was sold at an average price of $105.19, for a total transaction of $14,674,741.33. Following the completion of the sale, the chief executive officer owned 211,559 shares of the company's stock, valued at $22,253,891.21. This trade represents a 39.74% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 6,645,690 shares of company stock worth $592,729,502 over the last quarter. Corporate insiders own 12.92% of the company's stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. Independent Wealth Network Inc. lifted its stake in shares of Roblox by 3.9% in the 2nd quarter. Independent Wealth Network Inc. now owns 3,885 shares of the company's stock valued at $409,000 after purchasing an additional 146 shares during the period. Signaturefd LLC lifted its position in Roblox by 41.4% during the second quarter. Signaturefd LLC now owns 8,703 shares of the company's stock valued at $916,000 after buying an additional 2,550 shares during the period. ORG Partners LLC purchased a new position in Roblox during the second quarter valued at $33,000. New Insight Wealth Advisors bought a new stake in shares of Roblox during the 2nd quarter valued at $375,000. Finally, Maridea Wealth Management LLC purchased a new stake in shares of Roblox in the 2nd quarter worth about $236,000. Hedge funds and other institutional investors own 94.46% of the company's stock.

Roblox Stock Performance

The company has a market capitalization of $80.76 billion, a P/E ratio of -88.86 and a beta of 1.60. The company's 50 day moving average is $94.41 and its 200-day moving average is $73.41. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 3.39.

Roblox (NYSE:RBLX - Get Free Report) last announced its quarterly earnings data 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 business had revenue of $1.04 billion for the quarter, compared to analysts' expectations of $1.14 billion. During the same quarter in the prior year, the company earned ($0.43) earnings per share. The business's revenue was up 30.6% compared to the same quarter last year. Equities analysts anticipate that Roblox Corporation will post -1.49 EPS for the current fiscal year.

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.