Roblox (NYSE:RBLX) Stock Rating Upgraded by Oppenheimer

Roblox (NYSE:RBLX - Get Free Report) was upgraded by investment analysts at Oppenheimer from a "market perform" rating to an "outperform" rating in a research note issued on Thursday, Marketbeat reports. The firm presently has a $70.00 price objective on the stock. Oppenheimer's price objective points to a potential upside of 18.38% from the stock's current price.

Other equities analysts have also issued reports about the stock. Wedbush reiterated an "outperform" rating and issued a $83.00 price target on shares of Roblox in a research note on Friday, February 7th. JPMorgan Chase & Co. lifted their price target on shares of Roblox from $62.00 to $72.00 and gave the stock an "overweight" rating in a research note on Friday, January 10th. Piper Sandler restated an "overweight" rating and issued a $72.00 price objective (up previously from $65.00) on shares of Roblox in a research note on Tuesday, January 28th. Needham & Company LLC lifted their target price on Roblox from $60.00 to $72.00 and gave the stock a "buy" rating in a research report on Friday, February 7th. Finally, Moffett Nathanson downgraded Roblox from a "neutral" rating to a "sell" rating and set a $34.00 price target on the stock. in a research note on Friday, February 7th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating, eighteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $64.22.

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Roblox Stock Up 3.9 %

Shares of RBLX traded up $2.22 during midday trading on Thursday, hitting $59.13. The company had a trading volume of 3,515,330 shares, compared to its average volume of 8,790,490. The company's 50-day simple moving average is $59.83 and its 200-day simple moving average is $56.43. The company has a debt-to-equity ratio of 4.82, a quick ratio of 0.98 and a current ratio of 1.02. Roblox has a 1 year low of $29.55 and a 1 year high of $75.74. The firm has a market capitalization of $37.16 billion, a P/E ratio of -40.78 and a beta of 1.49.

Roblox (NYSE:RBLX - Get Free Report) last announced its quarterly earnings data on Thursday, February 6th. The company reported ($0.33) earnings per share for the quarter, beating analysts' consensus estimates of ($0.46) by $0.13. Roblox had a negative net margin of 25.97% and a negative return on equity of 665.98%. As a group, sell-side analysts expect that Roblox will post -1.49 EPS for the current year.

Insider Transactions at Roblox

In related news, Director Anthony P. Lee sold 250,000 shares of the company's stock in a transaction that occurred on Thursday, January 16th. The stock was sold at an average price of $65.04, for a total value of $16,260,000.00. Following the sale, the director now owns 6,254,137 shares in the company, valued at $406,769,070.48. This represents a 3.84 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO David Baszucki sold 229,167 shares of Roblox stock in a transaction on Monday, April 7th. The stock was sold at an average price of $52.48, for a total value of $12,026,684.16. Following the transaction, the chief executive officer now directly owns 221,983 shares of the company's stock, valued at approximately $11,649,667.84. This represents a 50.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 1,232,833 shares of company stock valued at $76,827,466 in the last ninety days. 22.15% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Roblox

Several institutional investors and hedge funds have recently made changes to their positions in the business. Janus Henderson Group PLC increased its position in Roblox by 3.9% during the third quarter. Janus Henderson Group PLC now owns 48,908 shares of the company's stock worth $2,164,000 after buying an additional 1,827 shares in the last quarter. Quantinno Capital Management LP boosted its stake in shares of Roblox by 85.8% during the third quarter. Quantinno Capital Management LP now owns 34,316 shares of the company's stock valued at $1,519,000 after acquiring an additional 15,846 shares during the last quarter. Wellington Management Group LLP increased its position in Roblox by 10,307.2% during the 3rd quarter. Wellington Management Group LLP now owns 598,102 shares of the company's stock worth $26,472,000 after purchasing an additional 592,355 shares in the last quarter. Orion Portfolio Solutions LLC raised its stake in Roblox by 136.9% in the 3rd quarter. Orion Portfolio Solutions LLC now owns 13,674 shares of the company's stock valued at $605,000 after purchasing an additional 7,903 shares during the last quarter. Finally, Y Intercept Hong Kong Ltd purchased a new position in Roblox in the 3rd quarter valued at about $1,106,000. 94.46% of the stock is currently owned by hedge funds and other 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.