Citigroup Boosts Roblox (NYSE:RBLX) Price Target to $82.00

Roblox (NYSE:RBLX - Free Report) had its price objective boosted by Citigroup from $63.00 to $82.00 in a research note issued to investors on Monday morning,Benzinga reports. They currently have a buy rating on the stock.

Other analysts also recently issued research reports about the stock. Raymond James reaffirmed a "strong-buy" rating and issued a $60.00 target price on shares of Roblox in a report on Friday, November 22nd. Morgan Stanley lifted their price objective on Roblox from $65.00 to $75.00 and gave the company an "overweight" rating in a report on Monday, January 13th. Wells Fargo & Company raised their price target on Roblox from $58.00 to $76.00 and gave the company an "overweight" rating in a report on Thursday, January 16th. CICC Research initiated coverage on Roblox in a report on Tuesday, January 14th. They set an "outperform" rating on the stock. Finally, Roth Mkm raised their target price on Roblox from $54.00 to $70.00 and gave the company a "neutral" rating in a report on Monday, January 27th. Seven investment analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Roblox currently has an average rating of "Moderate Buy" and a consensus price target of $60.05.

Roblox Stock Performance

Shares of Roblox stock traded up $0.55 during trading on Monday, reaching $74.34. The company's stock had a trading volume of 2,720,426 shares, compared to its average volume of 6,683,620. The firm has a market cap of $45.16 billion, a PE ratio of -45.33 and a beta of 1.46. The company has a 50-day moving average price of $61.26 and a two-hundred day moving average price of $50.15. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 5.64. Roblox has a fifty-two week low of $29.55 and a fifty-two week high of $74.64.

Insider Buying and Selling

In related news, Director Anthony P. Lee sold 25,000 shares of the firm's stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $52.34, for a total value of $1,308,500.00. Following the sale, the director now directly owns 5,731,695 shares of the company's stock, valued at approximately $299,996,916.30. This trade represents a 0.43 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO David Baszucki sold 138,555 shares of the company's stock in a transaction that occurred on Thursday, January 30th. The stock was sold at an average price of $71.62, for a total transaction of $9,923,309.10. Following the transaction, the chief executive officer now directly owns 129,301 shares of the company's stock, valued at $9,260,537.62. This trade represents a 51.73 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 1,306,335 shares of company stock worth $77,348,316. 22.15% of the stock is owned by insiders.

Institutional Investors Weigh In On Roblox

A number of institutional investors have recently added to or reduced their stakes in RBLX. Toronto Dominion Bank lifted its position in Roblox by 34.3% during the 3rd quarter. Toronto Dominion Bank now owns 60,092 shares of the company's stock worth $2,660,000 after acquiring an additional 15,333 shares in the last quarter. Smith Group Asset Management LLC boosted its stake in shares of Roblox by 939.6% in the fourth quarter. Smith Group Asset Management LLC now owns 69,030 shares of the company's stock valued at $3,994,000 after purchasing an additional 62,390 shares during the period. Entropy Technologies LP grew its holdings in Roblox by 168.4% during the 3rd quarter. Entropy Technologies LP now owns 99,649 shares of the company's stock valued at $4,410,000 after purchasing an additional 62,521 shares in the last quarter. Benjamin Edwards Inc. increased its stake in Roblox by 12,971.4% during the 3rd quarter. Benjamin Edwards Inc. now owns 52,024 shares of the company's stock worth $2,302,000 after buying an additional 51,626 shares during the period. Finally, State Street Corp lifted its holdings in Roblox by 2.3% in the 3rd quarter. State Street Corp now owns 10,855,890 shares of the company's stock worth $480,482,000 after buying an additional 240,565 shares in the last quarter. Hedge funds and other institutional investors own 94.46% of the company's stock.

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.