Roblox (NYSE:RBLX) Price Target Raised to $76.00 at Wells Fargo & Company

Roblox (NYSE:RBLX - Get Free Report) had its price target hoisted by investment analysts at Wells Fargo & Company from $58.00 to $76.00 in a research note issued to investors on Thursday,Benzinga reports. The brokerage presently has an "overweight" rating on the stock. Wells Fargo & Company's price objective indicates a potential upside of 16.12% from the company's previous close.

RBLX has been the topic of several other research reports. Raymond James reissued a "strong-buy" rating and set a $60.00 price objective on shares of Roblox in a research note on Friday, November 22nd. CICC Research started coverage on Roblox in a research report on Tuesday. They set an "outperform" rating for the company. Deutsche Bank Aktiengesellschaft boosted their target price on Roblox from $45.00 to $60.00 and gave the stock a "buy" rating in a report on Monday, November 4th. Benchmark raised their price target on Roblox from $44.00 to $60.00 and gave the company a "buy" rating in a report on Friday, November 1st. Finally, Needham & Company LLC upped their price target on shares of Roblox from $50.00 to $60.00 and gave the stock a "buy" rating in a research note on Friday, November 1st. Seven investment analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, Roblox currently has a consensus rating of "Moderate Buy" and a consensus target price of $57.48.

Roblox Trading Up 2.7 %

Shares of NYSE RBLX traded up $1.71 during midday trading on Thursday, hitting $65.45. 9,820,863 shares of the company traded hands, compared to its average volume of 6,802,186. The company has a debt-to-equity ratio of 5.64, a quick ratio of 0.98 and a current ratio of 0.98. Roblox has a 12-month low of $29.55 and a 12-month high of $66.51. The stock has a 50-day moving average price of $56.61 and a 200 day moving average price of $47.23. The firm has a market cap of $39.77 billion, a P/E ratio of -39.91 and a beta of 1.43.

Roblox (NYSE:RBLX - Get Free Report) last released its earnings results on Thursday, October 31st. The company reported ($0.37) EPS for the quarter, beating analysts' consensus estimates of ($0.39) by $0.02. The company had revenue of $919.00 million during the quarter, compared to analysts' expectations of $1.02 billion. Roblox had a negative return on equity of 986.36% and a negative net margin of 30.90%. The firm's revenue for the quarter was up 9.5% compared to the same quarter last year. During the same quarter last year, the business posted ($0.45) EPS. As a group, analysts expect that Roblox will post -1.56 earnings per share for the current year.

Insider Buying and Selling at Roblox

In other Roblox news, insider Manuel Bronstein sold 44,888 shares of the firm's stock in a transaction that occurred on Wednesday, December 11th. The shares were sold at an average price of $60.01, for a total transaction of $2,693,728.88. Following the sale, the insider now owns 573,266 shares in the company, valued at approximately $34,401,692.66. This trade represents a 7.26 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO David Baszucki sold 166,668 shares of the stock in a transaction on Friday, October 25th. The stock was sold at an average price of $42.15, for a total transaction of $7,025,056.20. Following the completion of the sale, the chief executive officer now directly owns 135,755 shares of the company's stock, valued at approximately $5,722,073.25. This trade represents a 55.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 1,254,601 shares of company stock valued at $65,622,735. Insiders own 22.15% of the company's stock.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. V Square Quantitative Management LLC purchased a new position in shares of Roblox in the third quarter valued at about $27,000. Frazier Financial Advisors LLC lifted its holdings in Roblox by 20,800.0% in the 3rd quarter. Frazier Financial Advisors LLC now owns 627 shares of the company's stock worth $28,000 after purchasing an additional 624 shares in the last quarter. Versant Capital Management Inc boosted its stake in Roblox by 83.9% in the 4th quarter. Versant Capital Management Inc now owns 524 shares of the company's stock worth $30,000 after purchasing an additional 239 shares during the period. GAMMA Investing LLC grew its holdings in Roblox by 132.8% during the 3rd quarter. GAMMA Investing LLC now owns 929 shares of the company's stock valued at $41,000 after buying an additional 530 shares in the last quarter. Finally, Huntington National Bank raised its position in shares of Roblox by 277.0% during the third quarter. Huntington National Bank now owns 1,048 shares of the company's stock valued at $46,000 after buying an additional 770 shares during the last quarter. Hedge funds and other 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.