Roblox (NYSE:RBLX) Price Target Raised to $82.00

Roblox (NYSE:RBLX) had its target price hoisted by Citigroup from $63.00 to $82.00 in a research report released on Monday,Benzinga reports. They currently have a buy rating on the stock.

Other analysts have also recently issued research reports about the company. Barclays boosted their price target on Roblox from $40.00 to $50.00 and gave the company an “equal weight” rating in a research note on Friday, November 1st. Roth Mkm increased their target price on Roblox from $54.00 to $70.00 and gave the company a “neutral” rating in a report on Monday, January 27th. Wells Fargo & Company lifted their price target on Roblox from $58.00 to $76.00 and gave the stock an “overweight” rating in a research note on Thursday, January 16th. Morgan Stanley increased their price objective on Roblox from $65.00 to $75.00 and gave the company an “overweight” rating in a research note on Monday, January 13th. Finally, JPMorgan Chase & Co. upped 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. Seven analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Roblox has an average rating of “Moderate Buy” and an average price target of $60.05.

Roblox Stock Up 2.5 %

Shares of Roblox stock opened at $75.66 on Monday. Roblox has a 52-week low of $29.55 and a 52-week high of $75.74. The firm’s 50 day moving average price is $61.79 and its 200-day moving average price is $50.32. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 5.64. The company has a market cap of $45.97 billion, a P/E ratio of -46.13 and a beta of 1.46.

Insider Activity at Roblox

In other Roblox news, CAO Amy Marie Rawlings sold 6,054 shares of the firm’s stock in a transaction that occurred on Wednesday, November 20th. The shares were sold at an average price of $51.43, for a total transaction of $311,357.22. Following the sale, the chief accounting officer now owns 85,008 shares of the company’s stock, valued at approximately $4,371,961.44. This trade represents a 6.65 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO David Baszucki sold 333,334 shares of the firm’s stock in a transaction dated Thursday, December 5th. The stock was sold at an average price of $57.31, for a total value of $19,103,371.54. Following the transaction, the chief executive officer now directly owns 129,295 shares in the company, valued at approximately $7,409,896.45. The trade was a 72.05 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 1,306,335 shares of company stock worth $77,348,316. 22.15% of the stock is currently owned by company insiders.

Institutional Trading of Roblox

Several institutional investors and hedge funds have recently bought and sold shares of the business. Simon Quick Advisors LLC grew its holdings in shares of Roblox by 4.6% during the fourth quarter. Simon Quick Advisors LLC now owns 4,915 shares of the company’s stock worth $284,000 after buying an additional 217 shares during the last quarter. Parkside Financial Bank & Trust increased its position in Roblox by 44.5% during the 4th 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 period. Versant Capital Management Inc lifted its holdings in shares of Roblox by 83.9% in the 4th quarter. Versant Capital Management Inc now owns 524 shares of the company’s stock valued at $30,000 after buying an additional 239 shares during the period. Impact Partnership Wealth LLC boosted its stake in shares of Roblox by 3.8% in the third quarter. Impact Partnership Wealth LLC now owns 6,730 shares of the company’s stock valued at $298,000 after buying an additional 245 shares in the last quarter. Finally, Yousif Capital Management LLC increased its holdings in shares of Roblox by 3.8% in the 4th quarter. Yousif Capital Management LLC now owns 6,672 shares of the company’s stock valued at $386,000 after purchasing an additional 245 shares in the last quarter. Hedge funds and other institutional investors own 94.46% 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.