Roblox (NYSE:RBLX) Upgraded at Oppenheimer

Oppenheimer upgraded shares of Roblox (NYSE:RBLX) from a market perform rating to an outperform rating in a report issued on Thursday morning, MarketBeat.com reports. Oppenheimer currently has $70.00 target price on the stock.

A number of other research firms also recently commented on RBLX. Benchmark restated a “buy” rating and set a $71.00 price objective on shares of Roblox in a research note on Tuesday, March 18th. Morgan Stanley increased their price target on Roblox from $65.00 to $75.00 and gave the company an “overweight” rating in a research report on Monday, January 13th. Wells Fargo & Company lowered their price target on Roblox from $76.00 to $70.00 and set an “overweight” rating on the stock in a research report on Wednesday. The Goldman Sachs Group increased their price objective on Roblox from $55.00 to $63.00 and gave the company a “neutral” rating in a report on Friday, February 7th. Finally, CICC Research assumed coverage on shares of Roblox in a report on Tuesday, January 14th. They set an “outperform” rating on the stock. One research analyst has rated the stock with a sell rating, seven have given a hold rating, eighteen have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $64.22.

Roblox Stock Up 2.1 %

NYSE:RBLX opened at $57.28 on Thursday. The stock has a 50-day simple moving average of $60.20 and a 200 day simple moving average of $56.26. Roblox has a 52-week low of $29.55 and a 52-week high of $75.74. The company has a market cap of $36.00 billion, a PE ratio of -39.50 and a beta of 1.49. The company has a debt-to-equity ratio of 4.82, a quick ratio of 0.98 and a current ratio of 1.02.

Roblox (NYSE:RBLX) last issued its quarterly earnings results on Thursday, February 6th. The company reported ($0.33) earnings per share for the quarter, topping the consensus estimate of ($0.46) by $0.13. Roblox had a negative net margin of 25.97% and a negative return on equity of 665.98%. On average, sell-side analysts expect that Roblox will post -1.49 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CFO Michael Guthrie sold 26,154 shares of the business’s stock in a transaction that occurred on Tuesday, February 11th. The shares were sold at an average price of $65.94, for a total value of $1,724,594.76. Following the completion of the transaction, the chief financial officer now directly owns 417,079 shares in the company, valued at approximately $27,502,189.26. The trade was a 5.90 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO David Baszucki sold 229,167 shares of the stock in a transaction that occurred on Monday, April 7th. The stock was sold at an average price of $52.48, for a total transaction of $12,026,684.16. Following the sale, the chief executive officer now owns 221,983 shares in the company, valued at $11,649,667.84. This represents a 50.80 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 1,232,833 shares of company stock worth $76,827,466 in the last quarter. Corporate insiders own 22.15% of the company’s stock.

Institutional Investors Weigh In On Roblox

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Versant Capital Management Inc lifted its holdings in shares of Roblox by 83.9% in the fourth quarter. Versant Capital Management Inc now owns 524 shares of the company’s stock worth $30,000 after acquiring an additional 239 shares during the last quarter. Gordian Capital Singapore Pte Ltd lifted its stake in Roblox by 74.8% in the 4th quarter. Gordian Capital Singapore Pte Ltd now owns 561 shares of the company’s stock valued at $32,000 after purchasing an additional 240 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. bought a new position in Roblox in the 1st quarter valued at approximately $39,000. Colonial Trust Co SC acquired a new stake in Roblox in the fourth quarter valued at approximately $41,000. Finally, Parkside Financial Bank & Trust grew its stake in shares of Roblox by 44.5% during the fourth quarter. Parkside Financial Bank & Trust now owns 747 shares of the company’s stock worth $43,000 after buying an additional 230 shares during the last quarter. 94.46% of the stock is currently owned by institutional investors.

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.