Oppenheimer reissued their outperform rating on shares of Roblox (NYSE:RBLX – Free Report) in a research report sent to investors on Wednesday morning,Benzinga reports. The firm currently has a $125.00 price target on the stock, up from their previous price target of $80.00.
Other equities research analysts have also issued research reports about the stock. The Goldman Sachs Group lifted their price objective on shares of Roblox from $63.00 to $80.00 and gave the company a “neutral” rating in a research note on Wednesday, May 14th. Morgan Stanley decreased their price objective on shares of Roblox from $75.00 to $70.00 and set an “overweight” rating for the company in a report on Thursday, April 17th. BMO Capital Markets reaffirmed an “outperform” rating and set a $95.00 price objective (up from $82.00) on shares of Roblox in a report on Friday, May 30th. Wedbush reaffirmed a “hold” rating on shares of Roblox in a report on Monday. Finally, Wells Fargo & Company upped their price objective on shares of Roblox from $70.00 to $78.00 and gave the stock an “overweight” rating in a report on Friday, May 2nd. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $78.04.
Read Our Latest Report on RBLX
Roblox Stock Performance
Roblox (NYSE:RBLX – Get Free Report) last issued its quarterly earnings data on Thursday, May 1st. The company reported ($0.32) earnings per share for the quarter, beating the consensus estimate of ($0.41) by $0.09. The firm had revenue of $1.04 billion for the quarter, compared to analyst estimates of $1.14 billion. Roblox had a negative net margin of 22.94% and a negative return on equity of 442.68%. The company’s revenue for the quarter was up 30.6% on a year-over-year basis. During the same quarter last year, the firm earned ($0.43) earnings per share. Research analysts expect that Roblox will post -1.49 EPS for the current fiscal year.
Insider Transactions at Roblox
In other news, CEO David Baszucki sold 1,375,002 shares of the business’s stock in a transaction that occurred on Monday, May 5th. The shares were sold at an average price of $72.19, for a total value of $99,261,394.38. Following the sale, the chief executive officer now owns 221,983 shares of the company’s stock, valued at $16,024,952.77. The trade was a 86.10% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CAO Amy Marie Rawlings sold 6,391 shares of the company’s stock in a transaction that occurred on Tuesday, May 20th. The stock was sold at an average price of $80.66, for a total transaction of $515,498.06. Following the sale, the chief accounting officer now directly owns 73,931 shares in the company, valued at $5,963,274.46. This trade represents a 7.96% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 5,789,321 shares of company stock valued at $490,045,042. Company insiders own 12.92% of the company’s stock.
Institutional Investors Weigh In On Roblox
A number of institutional investors have recently made changes to their positions in RBLX. Empowered Funds LLC increased its stake in Roblox by 24.5% during the 4th quarter. Empowered Funds LLC now owns 9,825 shares of the company’s stock valued at $568,000 after purchasing an additional 1,936 shares in the last quarter. Principal Financial Group Inc. boosted its position in shares of Roblox by 53.9% during the fourth quarter. Principal Financial Group Inc. now owns 279,849 shares of the company’s stock worth $16,192,000 after acquiring an additional 98,041 shares during the last quarter. Sanctuary Advisors LLC boosted its position in shares of Roblox by 20.6% during the fourth quarter. Sanctuary Advisors LLC now owns 36,813 shares of the company’s stock worth $2,130,000 after acquiring an additional 6,290 shares during the last quarter. CIBC Asset Management Inc lifted its position in Roblox by 14.4% during the fourth quarter. CIBC Asset Management Inc now owns 23,244 shares of the company’s stock valued at $1,345,000 after purchasing an additional 2,923 shares during the last quarter. Finally, D.A. Davidson & CO. raised its position in Roblox by 3.8% in the 4th quarter. D.A. Davidson & CO. now owns 24,602 shares of the company’s stock worth $1,423,000 after purchasing an additional 891 shares during the period. 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.
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