Shares of Roblox Corporation (NYSE:RBLX – Get Free Report) have been assigned a consensus recommendation of “Hold” from the twenty-eight research firms that are presently covering the company, MarketBeat reports. One analyst has rated the stock with a sell rating, fourteen have given a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company. The average 12 month price target among brokerages that have updated their coverage on the stock in the last year is $87.0741.
A number of brokerages have recently issued reports on RBLX. Wedbush downgraded Roblox from a “hold” rating to a “neutral” rating in a research note on Friday, May 1st. Barclays cut their target price on Roblox from $115.00 to $60.00 and set an “equal weight” rating for the company in a research note on Friday, May 1st. Weiss Ratings restated a “sell (e+)” rating on shares of Roblox in a research report on Friday, March 27th. Jefferies Financial Group lowered shares of Roblox from a “hold” rating to a “hold” rating in a research report on Friday, May 1st. Finally, Citigroup decreased their target price on shares of Roblox from $90.00 to $70.00 and set a “buy” rating on the stock in a research report on Monday, May 4th.
View Our Latest Stock Report on RBLX
Roblox Trading Down 3.3%
Roblox (NYSE:RBLX – Get Free Report) last posted its quarterly earnings results on Thursday, April 30th. The company reported ($0.35) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.41) by $0.06. The firm had revenue of $1.44 billion during the quarter, compared to analysts’ expectations of $1.74 billion. Roblox had a negative net margin of 20.69% and a negative return on equity of 277.69%. The firm’s revenue for the quarter was up 43.4% on a year-over-year basis. During the same period in the prior year, the company posted ($0.32) earnings per share. Equities research analysts expect that Roblox will post -1.4 EPS for the current year.
Roblox announced that its Board of Directors has approved a stock repurchase program on Tuesday, May 19th that authorizes the company to buyback $3.00 billion in outstanding shares. This buyback authorization authorizes the company to purchase up to 9.5% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s board believes its shares are undervalued.
Insider Activity at Roblox
In other Roblox news, CEO David Baszucki sold 50,628 shares of the business’s stock in a transaction on Wednesday, May 20th. The shares were sold at an average price of $45.28, for a total transaction of $2,292,435.84. Following the sale, the chief executive officer directly owned 852,214 shares in the company, valued at approximately $38,588,249.92. The trade was a 5.61% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Sean Jack Buckley sold 4,744 shares of the business’s stock in a transaction on Friday, May 22nd. The stock was sold at an average price of $46.36, for a total transaction of $219,931.84. Following the sale, the insider owned 97,141 shares in the company, valued at $4,503,456.76. The trade was a 4.66% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders sold 183,471 shares of company stock worth $8,930,068. 10.05% of the stock is currently owned by insiders.
Institutional Investors Weigh In On Roblox
Institutional investors have recently made changes to their positions in the stock. Reyes Financial Architecture Inc. boosted its position in shares of Roblox by 164.4% during the 4th quarter. Reyes Financial Architecture Inc. now owns 312 shares of the company’s stock worth $25,000 after purchasing an additional 194 shares in the last quarter. Hanson & Doremus Investment Management acquired a new position in shares of Roblox during the 1st quarter worth $25,000. Fideuram Asset Management Ireland dac acquired a new position in shares of Roblox during the 4th quarter worth $27,000. GW&K Investment Management LLC raised its stake in shares of Roblox by 76.3% during the 4th quarter. GW&K Investment Management LLC now owns 372 shares of the company’s stock worth $30,000 after buying an additional 161 shares during the last quarter. Finally, Indiana Trust & Investment Management Co acquired a new position in shares of Roblox during the 4th quarter worth $32,000. 94.46% of the stock is currently owned by hedge funds and other institutional investors.
Roblox Company Profile
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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