Roblox (NYSE:RBLX – Get Free Report) was downgraded by analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a research note issued on Saturday, Wall Street Zen reports.
RBLX has been the topic of several other reports. Moffett Nathanson reiterated a “neutral” rating and issued a $40.00 price objective on shares of Roblox in a report on Monday, August 3rd. UBS Group set a $40.00 target price on Roblox in a report on Monday, September 21st. Wolfe Research downgraded Roblox from an “outperform” rating to a “hold” rating in a research report on Friday, July 31st. B. Riley Financial lowered their price target on Roblox from $80.00 to $45.00 and set a “buy” rating on the stock in a research note on Monday, August 3rd. Finally, Bank of America boosted their price target on Roblox from $44.00 to $48.00 and gave the stock a “neutral” rating in a research report on Monday, September 14th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, thirteen have given a Hold rating and four have given a Sell rating to the company. According to data from MarketBeat.com, Roblox currently has a consensus rating of “Hold” and a consensus price target of $60.79.
Read Our Latest Stock Analysis on Roblox
Roblox Stock Performance
Roblox (NYSE:RBLX – Get Free Report) last released its earnings results on Thursday, July 30th. The company reported ($0.26) EPS for the quarter, topping analysts’ consensus estimates of ($0.34) by $0.08. Roblox had a negative net margin of 17.60% and a negative return on equity of 292.85%. The business had revenue of $1.47 billion during the quarter, compared to analysts’ expectations of $1.60 billion. During the same quarter in the previous year, the company earned ($0.41) earnings per share. The company’s quarterly revenue was up 8.3% on a year-over-year basis. Equities analysts anticipate that Roblox will post -1.39 earnings per share for the current fiscal year.
Insiders Place Their Bets
In related news, insider Mark Reinstra sold 17,934 shares of the stock in a transaction that occurred on Thursday, August 20th. The stock was sold at an average price of $37.96, for a total value of $680,774.64. Following the completion of the sale, the insider owned 398,064 shares of the company’s stock, valued at approximately $15,110,509.44. This trade represents a 4.31% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Matthew D. Kaufman sold 14,904 shares of Roblox stock in a transaction that occurred on Thursday, August 20th. The stock was sold at an average price of $37.96, for a total value of $565,755.84. Following the transaction, the insider owned 335,060 shares in the company, valued at approximately $12,718,877.60. The trade was a 4.26% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last three months, insiders sold 180,724 shares of company stock worth $7,032,934. 10.05% of the stock is currently owned by insiders.
Institutional Trading of Roblox
Several large investors have recently added to or reduced their stakes in RBLX. Destination Wealth Management raised its position in Roblox by 3.0% in the fourth quarter. Destination Wealth Management now owns 6,646 shares of the company’s stock valued at $539,000 after purchasing an additional 195 shares during the period. Stonekeep Investments LLC lifted its stake in shares of Roblox by 2.4% in the 2nd quarter. Stonekeep Investments LLC now owns 9,070 shares of the company’s stock valued at $493,000 after purchasing an additional 213 shares during the last quarter. Basecamp Wealth Advisors LLC grew its holdings in shares of Roblox by 98.8% during the 1st quarter. Basecamp Wealth Advisors LLC now owns 507 shares of the company’s stock worth $29,000 after purchasing an additional 252 shares during the period. Root Financial Partners LLC grew its holdings in shares of Roblox by 100.7% during the 1st quarter. Root Financial Partners LLC now owns 564 shares of the company’s stock worth $32,000 after purchasing an additional 283 shares during the period. Finally, Versant Capital Management Inc increased its position in shares of Roblox by 27.2% during the 2nd quarter. Versant Capital Management Inc now owns 1,536 shares of the company’s stock worth $84,000 after purchasing an additional 328 shares during the last quarter. 94.46% of the stock is currently owned by hedge funds and other institutional investors.
About Roblox
Roblox Corporation (NYSE:RBLX) operates an online entertainment platform where users can create, share and experience interactive 3D content. The platform hosts user-generated games and other virtual experiences across genres, including entertainment, social activities, education and simulated environments.
Roblox provides development tools through Roblox Studio, enabling creators to build and publish experiences, digital items and other content. Users can customize avatars, interact with others and access the platform across supported computers, mobile devices, gaming consoles and virtual reality systems.
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