Macquarie Issues Positive Forecast for Roblox (NYSE:RBLX) Stock Price

Roblox (NYSE:RBLX) had its price objective raised by Macquarie from $50.00 to $58.00 in a research note released on Friday, Benzinga reports. Macquarie currently has an outperform rating on the stock.

RBLX has been the subject of a number of other research reports. Wedbush restated an “outperform” rating and set a $49.00 price target on shares of Roblox in a research report on Friday, October 25th. Deutsche Bank Aktiengesellschaft lifted their target price on shares of Roblox from $40.00 to $45.00 and gave the stock a “buy” rating in a research note on Friday, August 2nd. Canaccord Genuity Group raised their price target on shares of Roblox from $50.00 to $60.00 and gave the stock a “buy” rating in a report on Friday. Piper Sandler upped their price objective on shares of Roblox from $54.00 to $65.00 and gave the company an “overweight” rating in a research note on Friday. Finally, JPMorgan Chase & Co. raised their target price on Roblox from $51.00 to $62.00 and gave the stock an “overweight” rating in a research note on Friday. Eight investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $52.55.

Roblox Trading Down 0.5 %

Shares of RBLX traded down $0.28 during trading hours on Friday, hitting $51.44. The company’s stock had a trading volume of 12,925,147 shares, compared to its average volume of 9,062,251. The company has a debt-to-equity ratio of 9.04, a current ratio of 1.03 and a quick ratio of 1.03. The business has a 50 day simple moving average of $43.67 and a two-hundred day simple moving average of $39.34. Roblox has a 52-week low of $29.55 and a 52-week high of $52.65.

Roblox (NYSE:RBLX) last posted its earnings results on Thursday, October 31st. The company reported ($0.37) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.38) by $0.01. The business had revenue of $919.00 million during the quarter, compared to analyst estimates of $1.02 billion. Roblox had a negative return on equity of 1,283.93% and a negative net margin of 30.90%. The company’s quarterly revenue was up 9.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.45) EPS. As a group, equities research analysts anticipate that Roblox will post -1.58 earnings per share for the current fiscal year.

Insider Transactions at Roblox

In related news, Director Anthony P. Lee sold 200,000 shares of Roblox stock in a transaction on Thursday, October 31st. The shares were sold at an average price of $50.33, for a total transaction of $10,066,000.00. Following the transaction, the director now owns 4,707,579 shares in the company, valued at approximately $236,932,451.07. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, Director Anthony P. Lee sold 200,000 shares of the stock in a transaction that occurred on Thursday, October 31st. The stock was sold at an average price of $50.33, for a total transaction of $10,066,000.00. Following the completion of the transaction, the director now directly owns 4,707,579 shares of the company’s stock, valued at approximately $236,932,451.07. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Michael Guthrie sold 30,000 shares of the stock in a transaction that occurred on Wednesday, August 14th. The shares were sold at an average price of $38.82, for a total value of $1,164,600.00. Following the transaction, the chief financial officer now owns 374,633 shares of the company’s stock, valued at $14,543,253.06. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 979,341 shares of company stock worth $43,897,012 in the last three months. Corporate insiders own 22.15% of the company’s stock.

Hedge Funds Weigh In On Roblox

A number of large investors have recently made changes to their positions in RBLX. AEGON ASSET MANAGEMENT UK Plc grew its stake in Roblox by 23.2% in the third quarter. AEGON ASSET MANAGEMENT UK Plc now owns 447,067 shares of the company’s stock worth $19,783,000 after purchasing an additional 84,198 shares in the last quarter. Capital Performance Advisors LLP bought a new stake in shares of Roblox in the third quarter valued at about $100,000. Principal Financial Group Inc. lifted its stake in Roblox by 308.2% in the third quarter. Principal Financial Group Inc. now owns 181,808 shares of the company’s stock worth $8,047,000 after acquiring an additional 137,267 shares during the period. Gulf International Bank UK Ltd grew its holdings in Roblox by 8.4% during the 3rd quarter. Gulf International Bank UK Ltd now owns 37,686 shares of the company’s stock worth $1,667,000 after acquiring an additional 2,932 shares in the last quarter. Finally, Robeco Institutional Asset Management B.V. increased its position in Roblox by 724.7% during the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 804,488 shares of the company’s stock valued at $35,607,000 after purchasing an additional 706,939 shares during the period. 91.08% of the stock is owned by hedge funds and other institutional investors.

About Roblox

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.