Canaccord Genuity Group Cuts Roblox (NYSE:RBLX) Price Target to $140.00

Roblox (NYSE:RBLXFree Report) had its price target reduced by Canaccord Genuity Group from $160.00 to $140.00 in a report published on Tuesday, Marketbeat Ratings reports. They currently have a buy rating on the stock.

Several other analysts have also recently issued reports on RBLX. Citigroup upped their target price on shares of Roblox from $152.00 to $155.00 and gave the company a “buy” rating in a research report on Wednesday, October 8th. Oppenheimer restated an “outperform” rating and set a $150.00 price objective on shares of Roblox in a research report on Friday, October 31st. Weiss Ratings reiterated a “sell (e+)” rating on shares of Roblox in a report on Monday, December 29th. TD Cowen restated a “sell” rating on shares of Roblox in a report on Tuesday, January 27th. Finally, Wedbush lowered their price target on Roblox from $165.00 to $110.00 and set an “outperform” rating for the company in a research report on Friday, January 30th. Sixteen equities research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat.com, Roblox has an average rating of “Hold” and a consensus target price of $130.88.

Check Out Our Latest Stock Analysis on Roblox

Roblox Stock Down 3.9%

Shares of RBLX opened at $60.61 on Tuesday. The company has a debt-to-equity ratio of 2.54, a current ratio of 0.96 and a quick ratio of 0.96. The stock has a market capitalization of $39.69 billion, a price-to-earnings ratio of -42.38 and a beta of 1.63. Roblox has a 1 year low of $50.10 and a 1 year high of $150.59. The business’s 50 day simple moving average is $81.76 and its 200-day simple moving average is $108.29.

Roblox (NYSE:RBLXGet Free Report) last announced its quarterly earnings results on Thursday, February 5th. The company reported ($0.45) earnings per share for the quarter, topping the consensus estimate of ($0.49) by $0.04. The company had revenue of $1.42 billion for the quarter, compared to analysts’ expectations of $2.08 billion. Roblox had a negative net margin of 21.70% and a negative return on equity of 314.20%. Roblox’s quarterly revenue was up 122.6% on a year-over-year basis. During the same quarter in the previous year, the business posted ($0.33) earnings per share. As a group, equities analysts expect that Roblox will post -1.49 earnings per share for the current fiscal year.

Insider Buying and Selling at Roblox

In related news, CAO Amy Marie Rawlings sold 2,642 shares of Roblox stock in a transaction dated Thursday, November 20th. The shares were sold at an average price of $95.24, for a total transaction of $251,624.08. Following the completion of the sale, the chief accounting officer owned 46,452 shares in the company, valued at $4,424,088.48. This trade represents a 5.38% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Naveen K. Chopra sold 19,424 shares of the business’s stock in a transaction dated Thursday, November 20th. The shares were sold at an average price of $95.23, for a total transaction of $1,849,747.52. Following the completion of the sale, the chief financial officer directly owned 337,036 shares of the company’s stock, valued at approximately $32,095,938.28. This trade represents a 5.45% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 423,899 shares of company stock valued at $37,883,851. 12.92% of the stock is owned by company insiders.

Institutional Trading of Roblox

Institutional investors and hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. grew its stake in Roblox by 1.6% in the fourth quarter. Vanguard Group Inc. now owns 63,458,784 shares of the company’s stock worth $5,142,065,000 after purchasing an additional 1,020,786 shares in the last quarter. State Street Corp lifted its holdings in shares of Roblox by 11.0% in the 3rd quarter. State Street Corp now owns 13,369,844 shares of the company’s stock worth $1,851,991,000 after buying an additional 1,326,575 shares during the period. Geode Capital Management LLC lifted its holdings in shares of Roblox by 9.1% in the 2nd quarter. Geode Capital Management LLC now owns 10,039,983 shares of the company’s stock worth $1,053,257,000 after buying an additional 834,230 shares during the period. AQR Capital Management LLC grew its position in shares of Roblox by 7.4% during the 3rd quarter. AQR Capital Management LLC now owns 9,697,538 shares of the company’s stock worth $1,310,719,000 after buying an additional 665,127 shares in the last quarter. Finally, Franklin Resources Inc. increased its stake in shares of Roblox by 9.8% during the third quarter. Franklin Resources Inc. now owns 6,963,693 shares of the company’s stock valued at $964,611,000 after buying an additional 619,048 shares during the period. Institutional investors own 94.46% of the company’s stock.

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About Roblox

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Roblox Corporation operates Roblox, a user-generated online platform that enables people to create, share and monetize immersive 3D experiences and games. The core offering centers on Roblox Studio, a development environment that allows independent creators and studios to design interactive worlds using the company’s building tools and scripting language. Content on the platform spans games, virtual hangouts, branded experiences and live events, all delivered through a persistent social environment.

Roblox’s business model is built around its virtual economy and creator ecosystem.

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