Wedbush Reaffirms “Outperform” Rating for Roblox (NYSE:RBLX)

Wedbush reiterated their outperform rating on shares of Roblox (NYSE:RBLX) in a report published on Thursday morning, Marketbeat.com reports. Wedbush currently has a $83.00 price target on the stock.

Several other brokerages also recently commented on RBLX. Barclays dropped their price target on Roblox from $50.00 to $46.00 and set an “equal weight” rating on the stock in a research report on Friday, February 7th. Morgan Stanley dropped their target price on shares of Roblox from $75.00 to $70.00 and set an “overweight” rating on the stock in a research report on Thursday, April 17th. Moffett Nathanson downgraded shares of Roblox from a “neutral” rating to a “sell” rating and set a $34.00 price target for the company. in a report on Friday, February 7th. Wells Fargo & Company dropped their price objective on shares of Roblox from $76.00 to $70.00 and set an “overweight” rating on the stock in a report on Wednesday, April 9th. Finally, JPMorgan Chase & Co. increased their target price on shares of Roblox from $62.00 to $72.00 and gave the company an “overweight” rating in a research note on Friday, January 10th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Roblox presently has an average rating of “Moderate Buy” and a consensus target price of $64.50.

Roblox Price Performance

NYSE RBLX opened at $65.69 on Thursday. Roblox has a 1 year low of $29.55 and a 1 year high of $75.74. The company has a fifty day simple moving average of $59.04 and a 200 day simple moving average of $57.25. The company has a current ratio of 1.02, a quick ratio of 0.98 and a debt-to-equity ratio of 4.82. The company has a market cap of $41.28 billion, a P/E ratio of -45.30 and a beta of 1.49.

Roblox (NYSE:RBLX) last released its quarterly earnings results on Thursday, February 6th. The company reported ($0.33) earnings per share (EPS) 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%. On average, sell-side analysts predict that Roblox will post -1.49 EPS for the current year.

Insiders Place Their Bets

In related news, CAO Amy Marie Rawlings sold 4,468 shares of the company’s stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $61.34, for a total transaction of $274,067.12. Following the transaction, the chief accounting officer now owns 75,583 shares in the company, valued at $4,636,261.22. This represents a 5.58 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Arvind Chakravarthy sold 982 shares of the firm’s stock in a transaction dated Thursday, February 27th. The shares were sold at an average price of $61.26, for a total transaction of $60,157.32. Following the completion of the sale, the insider now owns 204,261 shares of the company’s stock, valued at $12,513,028.86. The trade was a 0.48 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 902,954 shares of company stock valued at $55,354,971. 22.15% of the stock is currently owned by insiders.

Institutional Trading of Roblox

Several hedge funds have recently modified their holdings of RBLX. Vanguard Group Inc. lifted its holdings in Roblox by 0.9% during the 4th quarter. Vanguard Group Inc. now owns 53,239,693 shares of the company’s stock worth $3,080,449,000 after buying an additional 462,450 shares in the last quarter. FMR LLC raised its position in shares of Roblox by 89.4% during the fourth quarter. FMR LLC now owns 39,658,528 shares of the company’s stock worth $2,294,642,000 after acquiring an additional 18,715,837 shares during the last quarter. Wealthfront Advisers LLC lifted its stake in shares of Roblox by 74,400.8% during the fourth quarter. Wealthfront Advisers LLC now owns 17,335,594 shares of the company’s stock valued at $1,063,365,000 after acquiring an additional 17,312,325 shares during the period. Ieq Capital LLC boosted its holdings in Roblox by 26.8% in the fourth quarter. Ieq Capital LLC now owns 16,592,623 shares of the company’s stock valued at $960,049,000 after acquiring an additional 3,507,901 shares during the last quarter. Finally, Geode Capital Management LLC increased its position in Roblox by 3.0% in the fourth quarter. Geode Capital Management LLC now owns 8,579,173 shares of the company’s stock worth $495,564,000 after purchasing an additional 246,610 shares during the period. 94.46% of the stock is owned by 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.