Oppenheimer assumed coverage on shares of Roblox (NYSE:RBLX – Get Rating) in a report issued on Wednesday, The Fly reports. The firm issued a market perform rating on the stock.
Several other equities research analysts also recently weighed in on the company. Jefferies Financial Group cut their price target on Roblox from $43.00 to $40.00 and set a hold rating on the stock in a report on Friday, October 14th. Wedbush increased their price objective on Roblox from $30.00 to $32.00 in a report on Tuesday, January 17th. Deutsche Bank Aktiengesellschaft dropped their price objective on Roblox from $52.00 to $45.00 and set a buy rating on the stock in a report on Monday, November 14th. The Goldman Sachs Group dropped their price objective on Roblox from $24.00 to $19.00 and set a sell rating on the stock in a report on Thursday, January 19th. Finally, JPMorgan Chase & Co. downgraded Roblox from an overweight rating to a neutral rating and dropped their price objective for the company from $53.00 to $35.00 in a report on Thursday, November 10th. Seven analysts have rated the stock with a sell rating, seven have issued a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of Hold and a consensus target price of $34.83.
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Roblox Price Performance
Shares of NYSE RBLX opened at $37.75 on Wednesday. The stock's 50-day moving average is $31.22 and its two-hundred day moving average is $37.40. The company has a debt-to-equity ratio of 2.33, a current ratio of 1.64 and a quick ratio of 1.64. Roblox has a 1-year low of $21.65 and a 1-year high of $73.71. The company has a market cap of $20.74 billion, a price-to-earnings ratio of -28.60 and a beta of 1.54.
Roblox (NYSE:RBLX – Get Rating) last issued its quarterly earnings results on Wednesday, November 9th. The company reported ($0.50) earnings per share for the quarter, missing the consensus estimate of ($0.36) by ($0.14). Roblox had a negative return on equity of 145.60% and a negative net
margin of 35.12%. The company had revenue of $701.72 million for the quarter, compared to analysts' expectations of $694.88 million. Analysts forecast that Roblox will post -1.65 EPS for the current fiscal year.
Insiders Place Their Bets
In other Roblox news, CEO David Baszucki sold 550,000 shares of the stock in a transaction that occurred on Wednesday, November 23rd. The stock was sold at an average price of $31.85, for a total transaction of $17,517,500.00. Following the completion of the sale, the chief executive officer now directly owns 1 shares of the company's stock, valued at approximately $31.85. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Roblox news, CEO David Baszucki sold 550,000 shares of the stock in a transaction that occurred on Wednesday, November 23rd. The stock was sold at an average price of $31.85, for a total transaction of $17,517,500.00. Following the completion of the sale, the chief executive officer now directly owns 1 shares of the company's stock, valued at approximately $31.85. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Craig Donato sold 7,674 shares of the stock in a transaction that occurred on Monday, November 21st. The stock was sold at an average price of $30.14, for a total value of $231,294.36. Following the transaction, the insider now directly owns 1,161,267 shares of the company's stock, valued at $35,000,587.38. The disclosure for this sale can be found here. In the last ninety days, insiders sold 590,999 shares of company stock valued at $18,791,858. 28.22% of the stock is owned by company insiders.
Hedge Funds Weigh In On Roblox
Hedge funds have recently bought and sold shares of the stock. State Board of Administration of Florida Retirement System acquired a new position in Roblox in the second quarter valued at $15,338,000. Los Angeles Capital Management LLC bought a new stake in Roblox in the second quarter valued at about $848,000. Tiedemann Advisors LLC increased its holdings in Roblox by 33.4% in the third quarter. Tiedemann Advisors LLC now owns 10,352 shares of the company's stock valued at $371,000 after buying an additional 2,594 shares during the last quarter. DekaBank Deutsche Girozentrale increased its holdings in Roblox by 26.4% in the third quarter. DekaBank Deutsche Girozentrale now owns 43,975 shares of the company's stock valued at $1,578,000 after buying an additional 9,181 shares during the last quarter. Finally, Toronto Dominion Bank increased its holdings in Roblox by 182,355.8% in the second quarter. Toronto Dominion Bank now owns 78,456 shares of the company's stock valued at $2,577,000 after buying an additional 78,413 shares during the last quarter. Hedge funds and other institutional investors own 72.36% of the company's stock.
About Roblox
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Roblox Corporation develops and operates an online entertainment platform. The company 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 digital world; Roblox Education for learning experiences; and Roblox Cloud, which provides services and infrastructure that power the human co-experience platform.
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