Roblox (NYSE:RBLX) Shares Gap Up on Analyst Upgrade

Roblox Co. (NYSE:RBLX) shares gapped up prior to trading on Wednesday after JPMorgan Chase & Co. raised their price target on the stock from $50.00 to $51.00. The stock had previously closed at $41.29, but opened at $42.40. JPMorgan Chase & Co. currently has an overweight rating on the stock. Roblox shares last traded at $41.87, with a volume of 1,375,586 shares trading hands.

Several other analysts have also recently commented on RBLX. Roth Mkm lifted their price target on Roblox from $35.00 to $42.00 and gave the company a “neutral” rating in a report on Monday, July 29th. Wolfe Research initiated coverage on Roblox in a report on Tuesday, July 16th. They issued a “peer perform” rating for the company. Deutsche Bank Aktiengesellschaft lifted their price target on Roblox from $40.00 to $45.00 and gave the company a “buy” rating in a report on Friday, August 2nd. Needham & Company LLC boosted their target price on Roblox from $40.00 to $50.00 and gave the stock a “buy” rating in a report on Friday, August 2nd. Finally, BMO Capital Markets reiterated an “outperform” rating and set a $56.00 target price on shares of Roblox in a report on Tuesday, July 30th. Eight analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $46.29.

Insiders Place Their Bets

In other Roblox news, CFO Michael Guthrie sold 30,000 shares of the company’s stock in a transaction that occurred on Monday, October 7th. The stock was sold at an average price of $41.50, for a total value of $1,245,000.00. Following the completion of the transaction, the chief financial officer now owns 352,844 shares in the company, valued at $14,643,026. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Roblox news, insider Mark Reinstra sold 17,000 shares of the company’s stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $40.47, for a total value of $687,990.00. Following the transaction, the insider now directly owns 342,656 shares of the company’s stock, valued at $13,867,288.32. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Michael Guthrie sold 30,000 shares of the company’s stock in a transaction that occurred on Monday, October 7th. The shares were sold at an average price of $41.50, for a total value of $1,245,000.00. Following the completion of the transaction, the chief financial officer now directly owns 352,844 shares in the company, valued at approximately $14,643,026. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 612,673 shares of company stock worth $26,805,956 in the last 90 days. 22.15% of the stock is owned by company insiders.

Hedge Funds Weigh In On Roblox

Institutional investors have recently made changes to their positions in the business. V Square Quantitative Management LLC acquired a new stake in shares of Roblox during the 3rd quarter valued at approximately $27,000. PARK CIRCLE Co acquired a new stake in shares of Roblox during the 2nd quarter valued at approximately $30,000. Strategic Financial Concepts LLC acquired a new stake in shares of Roblox during the 2nd quarter valued at approximately $33,000. Gilliland Jeter Wealth Management LLC raised its position in shares of Roblox by 102.4% during the 2nd quarter. Gilliland Jeter Wealth Management LLC now owns 1,000 shares of the company’s stock valued at $37,000 after acquiring an additional 506 shares in the last quarter. Finally, Washington Trust Advisors Inc. acquired a new stake in shares of Roblox during the 1st quarter valued at approximately $39,000. 91.08% of the stock is owned by institutional investors and hedge funds.

Roblox Trading Up 1.5 %

The company has a debt-to-equity ratio of 9.04, a quick ratio of 1.03 and a current ratio of 1.03. The company has a 50-day moving average of $43.24 and a 200-day moving average of $39.03.

Roblox (NYSE:RBLX) last issued its earnings results on Thursday, August 1st. The company reported ($0.32) earnings per share for the quarter, topping the consensus estimate of ($0.39) by $0.07. Roblox had a negative return on equity of 1,187.59% and a negative net margin of 34.12%. The firm had revenue of $893.50 million for the quarter, compared to analyst estimates of $897.88 million. During the same period last year, the company earned ($0.46) earnings per share. The firm’s revenue for the quarter was up 31.2% on a year-over-year basis. Sell-side analysts expect that Roblox Co. will post -1.58 earnings per share for the current year.

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.