Wall Street Zen upgraded shares of Roblox (NYSE:RBLX – Free Report) from a sell rating to a hold rating in a research note released on Sunday,Wall Street Zen reports.
A number of other brokerages have also weighed in on RBLX. Citigroup reduced their price objective on shares of Roblox from $70.00 to $60.00 and set a “buy” rating on the stock in a report on Monday, August 3rd. Cantor Fitzgerald assumed coverage on shares of Roblox in a research note on Monday, June 29th. They set an “overweight” rating for the company. TD Cowen lowered their target price on shares of Roblox from $49.00 to $40.00 and set a “hold” rating for the company in a research note on Friday, July 31st. Deutsche Bank Aktiengesellschaft lowered Roblox from a “buy” rating to a “hold” rating and dropped their target price for the company from $56.00 to $38.00 in a report on Friday, July 31st. Finally, UBS Group set a $40.00 price target on Roblox in a research note on Monday, September 21st. One research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, thirteen have issued a Hold rating and five have assigned a Sell rating to the company’s stock. According to MarketBeat.com, Roblox currently has a consensus rating of “Hold” and an average target price of $56.93.
Check Out Our Latest Report 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) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.34) by $0.08. The firm had revenue of $1.47 billion for the quarter, compared to analyst estimates of $1.60 billion. Roblox had a negative net margin of 17.60% and a negative return on equity of 292.85%. The business’s quarterly revenue was up 8.3% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.41) earnings per share. On average, equities research analysts forecast that Roblox will post -1.39 EPS for the current fiscal year.
Insider Buying and Selling
In other Roblox news, Director Gregory Baszucki sold 16,666 shares of the firm’s stock in a transaction that occurred on Tuesday, September 1st. The shares were sold at an average price of $40.47, for a total transaction of $674,473.02. Following the sale, the director owned 1,261,169 shares of the company’s stock, valued at approximately $51,039,509.43. This trade represents a 1.30% 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 transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO David Baszucki sold 52,568 shares of the firm’s stock in a transaction that occurred on Thursday, August 20th. The stock was sold at an average price of $37.96, for a total transaction of $1,995,481.28. Following the sale, the chief executive officer directly owned 799,646 shares in the company, valued at approximately $30,354,562.16. The trade was a 6.17% decrease in their position. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold a total of 186,390 shares of company stock valued at $7,283,371 over the last three months. 10.05% of the stock is currently owned by insiders.
Institutional Investors Weigh In On Roblox
A number of institutional investors and hedge funds have recently bought and sold shares of RBLX. Allspring Global Investments Holdings LLC increased its position in shares of Roblox by 379.8% during the first quarter. Allspring Global Investments Holdings LLC now owns 921,424 shares of the company’s stock worth $53,102,000 after purchasing an additional 729,379 shares in the last quarter. PensionDanmark Pensionsforsikringsaktieselskab lifted its holdings in shares of Roblox by 35.5% in the 2nd quarter. PensionDanmark Pensionsforsikringsaktieselskab now owns 130,130 shares of the company’s stock valued at $7,076,000 after purchasing an additional 34,120 shares during the last quarter. Odyssean LLC boosted its position in shares of Roblox by 344.4% in the 2nd quarter. Odyssean LLC now owns 40,038 shares of the company’s stock valued at $2,177,000 after purchasing an additional 31,029 shares during the period. National Pension Service boosted its position in shares of Roblox by 34.0% in the 2nd quarter. National Pension Service now owns 1,243,524 shares of the company’s stock valued at $67,623,000 after purchasing an additional 315,244 shares during the period. Finally, Assenagon Asset Management S.A. boosted its position in shares of Roblox by 89.0% in the 2nd quarter. Assenagon Asset Management S.A. now owns 1,893,790 shares of the company’s stock valued at $102,984,000 after purchasing an additional 891,634 shares during the period. 94.46% of the stock is 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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