Roblox (NYSE:RBLX) Price Target Cut to $70.00 by Analysts at Morgan Stanley

Roblox (NYSE:RBLX - Get Free Report) had its price objective decreased by research analysts at Morgan Stanley from $75.00 to $70.00 in a report issued on Thursday,Benzinga reports. The brokerage currently has an "overweight" rating on the stock. Morgan Stanley's target price points to a potential upside of 17.33% from the stock's previous close.

A number of other equities analysts have also commented on the stock. Wells Fargo & Company cut their price objective on shares of Roblox from $76.00 to $70.00 and set an "overweight" rating for the company in a research report on Wednesday, April 9th. Needham & Company LLC lifted their target price on shares of Roblox from $60.00 to $72.00 and gave the stock a "buy" rating in a research report on Friday, February 7th. Oppenheimer upgraded shares of Roblox from a "market perform" rating to an "outperform" rating and set a $70.00 target price on the stock in a report on Thursday, April 10th. Wedbush reaffirmed an "outperform" rating and issued a $83.00 price target on shares of Roblox in a research note on Friday, February 7th. Finally, OTR Global upgraded shares of Roblox from a "mixed" rating to a "positive" rating in a research note on Monday, February 3rd. One analyst has rated the stock with a sell rating, seven have assigned a hold rating, eighteen have given a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, Roblox currently has a consensus rating of "Moderate Buy" and an average target price of $64.00.

Roblox Stock Performance

Shares of NYSE RBLX traded up $0.57 during trading hours on Thursday, reaching $59.66. 2,015,858 shares of the stock were exchanged, compared to its average volume of 7,847,913. Roblox has a 52 week low of $29.55 and a 52 week high of $75.74. The firm has a market capitalization of $37.50 billion, a price-to-earnings ratio of -41.15 and a beta of 1.49. The stock's fifty day simple moving average is $59.51 and its 200 day simple moving average is $56.46. 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 (NYSE:RBLX - Get Free Report) last issued its earnings results 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%. Sell-side analysts predict that Roblox will post -1.49 EPS for the current year.

Insider Buying and Selling

In related news, CEO David Baszucki sold 229,167 shares of Roblox stock in a transaction that occurred on Monday, April 7th. The shares were sold at an average price of $52.48, for a total transaction of $12,026,684.16. Following the transaction, the chief executive officer now owns 221,983 shares of the company's stock, valued at $11,649,667.84. This trade represents a 50.80 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Matthew D. Kaufman sold 6,000 shares of Roblox stock in a transaction dated Thursday, April 3rd. The shares were sold at an average price of $57.99, for a total value of $347,940.00. Following the completion of the sale, the insider now directly owns 364,244 shares in the company, valued at $21,122,509.56. This represents a 1.62 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 926,954 shares of company stock worth $56,936,331 in the last quarter. 22.15% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Roblox

A number of large investors have recently modified their holdings of RBLX. Brighton Jones LLC acquired a new stake in shares of Roblox in the first quarter valued at about $283,000. Wealth Enhancement Advisory Services LLC raised its stake in shares of Roblox by 138.6% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 139,086 shares of the company's stock worth $8,107,000 after purchasing an additional 80,804 shares during the last quarter. Azzad Asset Management Inc. ADV bought a new position in Roblox during the 1st quarter valued at $280,000. NorthCrest Asset Manangement LLC bought a new stake in Roblox in the 1st quarter worth about $710,000. Finally, Simon Quick Advisors LLC grew its stake in Roblox by 17.7% in the 1st quarter. Simon Quick Advisors LLC now owns 5,783 shares of the company's stock valued at $337,000 after purchasing an additional 868 shares during the period. Institutional investors and hedge funds 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.