Roblox (NYSE:RBLX) Given New $63.00 Price Target at The Goldman Sachs Group

Roblox (NYSE:RBLX) had its price objective raised by The Goldman Sachs Group from $55.00 to $63.00 in a report issued on Friday morning,Benzinga reports. The Goldman Sachs Group currently has a neutral rating on the stock.

A number of other equities research analysts have also recently commented on RBLX. Wedbush reissued an “outperform” rating and issued a $49.00 price objective on shares of Roblox in a research note on Friday, October 25th. Deutsche Bank Aktiengesellschaft increased their price target on shares of Roblox from $45.00 to $60.00 and gave the company a “buy” rating in a research report on Monday, November 4th. HSBC started coverage on Roblox in a research note on Thursday, December 12th. They issued a “buy” rating and a $63.00 target price on the stock. Canaccord Genuity Group upped their price objective on Roblox from $50.00 to $60.00 and gave the company a “buy” rating in a research report on Friday, November 1st. Finally, Roth Mkm lifted their price objective on Roblox from $54.00 to $70.00 and gave the stock a “neutral” rating in a research report on Monday, January 27th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Roblox presently has an average rating of “Moderate Buy” and an average target price of $64.19.

Roblox Stock Performance

RBLX stock opened at $66.41 on Friday. Roblox has a 52 week low of $29.55 and a 52 week high of $75.74. The company has a debt-to-equity ratio of 5.64, a current ratio of 0.98 and a quick ratio of 0.98. The company’s 50-day moving average price is $62.47 and its 200 day moving average price is $50.62.

Roblox (NYSE:RBLX) last released its quarterly earnings results on Thursday, February 6th. The company reported ($0.33) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.46) by $0.13. Roblox had a negative return on equity of 795.19% and a negative net margin of 25.97%. On average, equities analysts expect that Roblox will post -1.4 EPS for the current fiscal year.

Insider Buying and Selling at Roblox

In other Roblox news, CFO Michael Guthrie sold 40,000 shares of Roblox stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $52.07, for a total transaction of $2,082,800.00. Following the sale, the chief financial officer now directly owns 352,844 shares in the company, valued at $18,372,587.08. The trade was a 10.18 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Amy Marie Rawlings sold 3,601 shares of the stock in a transaction that occurred on Friday, November 22nd. The shares were sold at an average price of $49.32, for a total value of $177,601.32. Following the transaction, the chief accounting officer now owns 81,407 shares of the company’s stock, valued at approximately $4,014,993.24. This trade represents a 4.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 1,306,335 shares of company stock valued at $77,348,316 over the last 90 days. 22.15% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in RBLX. Truist Financial Corp acquired a new stake in shares of Roblox in the 2nd quarter valued at about $559,000. Cetera Investment Advisers lifted its holdings in Roblox by 4.4% during the 2nd quarter. Cetera Investment Advisers now owns 41,332 shares of the company’s stock worth $1,538,000 after buying an additional 1,748 shares during the last quarter. Sanctuary Advisors LLC acquired a new position in shares of Roblox in the 2nd quarter worth approximately $1,105,000. GAMMA Investing LLC raised its position in shares of Roblox by 132.8% during the 3rd quarter. GAMMA Investing LLC now owns 929 shares of the company’s stock valued at $41,000 after acquiring an additional 530 shares in the last quarter. Finally, Dynamic Advisor Solutions LLC bought a new position in Roblox during the third quarter worth $235,000. 94.46% of the stock is currently owned by 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.