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

Wedbush reiterated their outperform rating on shares of Roblox (NYSE:RBLX) in a research note released on Monday, Benzinga reports. The brokerage currently has a $46.00 target price on the stock.

Several other research analysts have also commented on RBLX. Roth Capital lowered Roblox from a strong-buy rating to a hold rating in a research report on Tuesday, May 14th. Macquarie initiated coverage on shares of Roblox in a research report on Friday, June 14th. They issued an outperform rating and a $46.00 price target for the company. Benchmark lowered their price objective on shares of Roblox from $50.00 to $40.00 and set a buy rating on the stock in a research report on Friday, May 10th. Barclays reduced their target price on shares of Roblox from $46.00 to $35.00 and set an equal weight rating for the company in a report on Friday, May 10th. Finally, Needham & Company LLC lowered their price target on Roblox from $55.00 to $40.00 and set a buy rating on the stock in a report on Friday, May 10th. Eight equities research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of Moderate Buy and a consensus price target of $42.91.

Roblox Stock Down 6.4 %

Shares of NYSE:RBLX opened at $38.85 on Monday. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 16.04. The firm has a 50 day simple moving average of $37.35 and a 200-day simple moving average of $38.08. The company has a market capitalization of $22.97 billion, a PE ratio of -20.89 and a beta of 1.59. Roblox has a twelve month low of $24.88 and a twelve month high of $47.20.

Roblox (NYSE:RBLX) last released its quarterly earnings data on Thursday, May 9th. The company reported ($0.43) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.53) by $0.10. Roblox had a negative net margin of 39.19% and a negative return on equity of 1,110.40%. The company had revenue of $923.76 million during the quarter, compared to the consensus estimate of $918.85 million. During the same quarter in the prior year, the firm posted ($0.44) earnings per share. Roblox’s revenue for the quarter was up 19.4% on a year-over-year basis. On average, equities analysts predict that Roblox will post -1.66 EPS for the current fiscal year.

Insider Transactions at Roblox

In related news, Director Gregory Baszucki sold 13,000 shares of the business’s stock in a transaction dated Wednesday, July 24th. The shares were sold at an average price of $40.45, for a total transaction of $525,850.00. Following the sale, the director now owns 9,708,603 shares of the company’s stock, valued at $392,712,991.35. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, CEO David Baszucki sold 166,668 shares of the firm’s stock in a transaction on Friday, July 12th. The stock was sold at an average price of $40.21, for a total value of $6,701,720.28. Following the completion of the transaction, the chief executive officer now owns 142,260 shares in the company, valued at $5,720,274.60. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, Director Gregory Baszucki sold 13,000 shares of Roblox stock in a transaction on Wednesday, July 24th. The stock was sold at an average price of $40.45, for a total value of $525,850.00. Following the transaction, the director now directly owns 9,708,603 shares of the company’s stock, valued at approximately $392,712,991.35. The disclosure for this sale can be found here. Insiders have sold a total of 476,889 shares of company stock valued at $17,575,955 in the last ninety days. 22.15% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Roblox

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in RBLX. Rhumbline Advisers increased its stake in shares of Roblox by 1.1% during the 2nd quarter. Rhumbline Advisers now owns 666,372 shares of the company’s stock worth $24,796,000 after purchasing an additional 7,102 shares in the last quarter. CIBC Asset Management Inc raised its holdings in shares of Roblox by 35.6% in the second quarter. CIBC Asset Management Inc now owns 19,286 shares of the company’s stock worth $718,000 after acquiring an additional 5,059 shares during the last quarter. Interchange Capital Partners LLC lifted its position in shares of Roblox by 45.5% in the second quarter. Interchange Capital Partners LLC now owns 12,843 shares of the company’s stock valued at $478,000 after acquiring an additional 4,014 shares in the last quarter. nVerses Capital LLC acquired a new stake in shares of Roblox during the second quarter valued at $63,000. Finally, Commonwealth Equity Services LLC increased its position in Roblox by 1.8% during the 2nd quarter. Commonwealth Equity Services LLC now owns 97,959 shares of the company’s stock worth $3,645,000 after purchasing an additional 1,701 shares in the last quarter. Institutional investors and hedge funds own 91.08% of the company’s stock.

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.