Roblox (NYSE:RBLX) Coverage Initiated at CICC Research

CICC Research assumed coverage on shares of Roblox (NYSE:RBLX) in a research report sent to investors on Tuesday,Benzinga reports. The brokerage issued an outperform rating on the stock.

Several other brokerages have also recently commented on RBLX. Canaccord Genuity Group raised their target price on shares of Roblox from $50.00 to $60.00 and gave the stock a “buy” rating in a report on Friday, November 1st. HSBC began coverage on Roblox in a research note on Thursday, December 12th. They set a “buy” rating and a $63.00 price objective on the stock. BTIG Research upped their target price on Roblox from $51.00 to $56.00 and gave the company a “buy” rating in a research report on Friday, November 1st. Wedbush reissued an “outperform” rating and set a $49.00 target price on shares of Roblox in a report on Friday, October 25th. Finally, Raymond James reaffirmed a “strong-buy” rating and issued a $60.00 price target on shares of Roblox in a research note on Friday, November 22nd. Seven research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Roblox presently has an average rating of “Moderate Buy” and a consensus target price of $56.62.

Roblox Stock Performance

NYSE:RBLX opened at $62.20 on Tuesday. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 5.64. The stock has a 50 day simple moving average of $56.39 and a 200 day simple moving average of $47.12. Roblox has a 1-year low of $29.55 and a 1-year high of $63.58. The stock has a market cap of $37.79 billion, a P/E ratio of -37.93 and a beta of 1.43.

Roblox (NYSE:RBLX) last announced its earnings results on Thursday, October 31st. The company reported ($0.37) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.39) by $0.02. Roblox had a negative net margin of 30.90% and a negative return on equity of 986.36%. The company had revenue of $919.00 million during the quarter, compared to analysts’ expectations of $1.02 billion. During the same quarter in the previous year, the business posted ($0.45) earnings per share. Roblox’s quarterly revenue was up 9.5% on a year-over-year basis. Research analysts anticipate that Roblox will post -1.56 earnings per share for the current year.

Insider Buying and Selling at Roblox

In other Roblox news, insider Manuel Bronstein sold 44,888 shares of the company’s stock in a transaction that occurred on Wednesday, December 11th. The shares were sold at an average price of $60.01, for a total value of $2,693,728.88. Following the completion of the transaction, the insider now directly owns 573,266 shares in the company, valued at approximately $34,401,692.66. This represents a 7.26 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO David Baszucki sold 166,668 shares of Roblox stock in a transaction on Friday, October 25th. The stock was sold at an average price of $42.15, for a total transaction of $7,025,056.20. Following the transaction, the chief executive officer now owns 135,755 shares in the company, valued at approximately $5,722,073.25. This trade represents a 55.11 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 1,254,601 shares of company stock worth $65,622,735. 22.15% 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. Versant Capital Management Inc lifted its stake in shares of Roblox by 83.9% in the fourth quarter. Versant Capital Management Inc now owns 524 shares of the company’s stock worth $30,000 after acquiring an additional 239 shares during the period. V Square Quantitative Management LLC bought a new position in Roblox during the 3rd quarter worth approximately $27,000. Frazier Financial Advisors LLC lifted its position in shares of Roblox by 20,800.0% in the 3rd quarter. Frazier Financial Advisors LLC now owns 627 shares of the company’s stock worth $28,000 after purchasing an additional 624 shares during the period. GAMMA Investing LLC boosted its stake in shares of Roblox by 132.8% in the 3rd quarter. GAMMA Investing LLC now owns 929 shares of the company’s stock valued at $41,000 after purchasing an additional 530 shares during the last quarter. Finally, Huntington National Bank increased its position in shares of Roblox by 277.0% during the third quarter. Huntington National Bank now owns 1,048 shares of the company’s stock worth $46,000 after buying an additional 770 shares during the period. Institutional investors own 94.46% of the company’s stock.

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.