Roblox (NYSE:RBLX) Given New $71.00 Price Target at Benchmark

Roblox (NYSE:RBLX) had its target price raised by Benchmark from $60.00 to $71.00 in a report released on Friday morning,Benzinga reports. Benchmark currently has a buy rating on the stock.

RBLX has been the subject of a number of other reports. Wedbush reaffirmed an “outperform” rating and issued a $49.00 price objective on shares of Roblox in a research report on Friday, October 25th. JPMorgan Chase & Co. increased their price target on Roblox from $62.00 to $72.00 and gave the company an “overweight” rating in a research report on Friday, January 10th. Raymond James restated a “strong-buy” rating and issued a $60.00 price objective on shares of Roblox in a research note on Friday, November 22nd. Deutsche Bank Aktiengesellschaft lifted their target price on Roblox from $45.00 to $60.00 and gave the stock a “buy” rating in a research note on Monday, November 4th. Finally, Citigroup raised their price objective on shares of Roblox from $63.00 to $82.00 and gave the stock a “buy” rating in a report on Monday, February 3rd. One analyst has rated the stock with a sell rating, six have issued a hold rating, sixteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $64.19.

Roblox Trading Down 1.1 %

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

Roblox (NYSE:RBLX) last released its quarterly earnings results on Thursday, February 6th. The company reported ($0.33) EPS for the quarter, beating 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%. As a group, research analysts forecast that Roblox will post -1.4 EPS for the current fiscal year.

Insider Activity

In related news, CEO David Baszucki sold 138,555 shares of the firm’s stock in a transaction that occurred on Thursday, January 30th. The shares were sold at an average price of $71.62, for a total value of $9,923,309.10. Following the sale, the chief executive officer now directly owns 129,301 shares of the company’s stock, valued at $9,260,537.62. This trade represents a 51.73 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Mark Reinstra sold 24,000 shares of the business’s stock in a transaction that occurred on Wednesday, January 22nd. The stock was sold at an average price of $65.89, for a total transaction of $1,581,360.00. Following the completion of the transaction, the insider now directly owns 281,161 shares of the company’s stock, valued at approximately $18,525,698.29. This represents a 7.86 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 1,306,335 shares of company stock worth $77,348,316 in the last three months. Corporate insiders own 22.15% of the company’s stock.

Institutional Investors Weigh In On Roblox

A number of large investors have recently added to or reduced their stakes in the company. V Square Quantitative Management LLC purchased a new position in shares of Roblox during the 3rd quarter valued at about $27,000. Frazier Financial Advisors LLC lifted its holdings 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 acquiring an additional 624 shares during the last quarter. Versant Capital Management Inc grew its holdings in shares of Roblox by 83.9% during the 4th quarter. Versant Capital Management Inc now owns 524 shares of the company’s stock valued at $30,000 after purchasing an additional 239 shares during the last quarter. GAMMA Investing LLC raised its position in Roblox by 132.8% in the 3rd quarter. GAMMA Investing LLC now owns 929 shares of the company’s stock worth $41,000 after purchasing an additional 530 shares during the period. Finally, Parkside Financial Bank & Trust lifted its stake in Roblox by 44.5% in the fourth quarter. Parkside Financial Bank & Trust now owns 747 shares of the company’s stock worth $43,000 after purchasing an additional 230 shares during the last quarter. Hedge funds and other 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.