Roblox (NYSE:RBLX) Stock Gets Price Target Reduction from DA Davidson

Roblox (NYSE:RBLX) had its price objective decreased by DA Davidson from $50.00 to $48.00 in a note issued to investors on Monday, Benzinga reports. The brokerage currently has a “neutral” rating on the stock. DA Davidson‘s price objective indicates a potential upside of 10.89% from the company’s previous close.

RBLX has been the topic of several other reports. Moffett Nathanson reiterated a “neutral” rating and set a $40.00 target price (down from $88.00) on shares of Roblox in a report on Monday, August 3rd. Deutsche Bank Aktiengesellschaft downgraded shares of Roblox from a “buy” rating to a “hold” rating and lowered their price objective for the company from $56.00 to $38.00 in a research report on Friday, July 31st. Wolfe Research upgraded shares of Roblox from a “hold” rating to a “strong-buy” rating in a research note on Friday. Piper Sandler reissued a “neutral” rating and set a $47.00 target price (down from $50.00) on shares of Roblox in a research report on Friday, July 31st. Finally, Wall Street Zen raised shares of Roblox from a “sell” rating to a “hold” rating in a research report on Sunday, October 11th. Two analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating, twelve have assigned a Hold rating and five have given a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $53.12.

Roblox Stock Up 0.7%

NYSE:RBLX traded up $0.30 during mid-day trading on Monday, hitting $43.29. The company had a trading volume of 4,783,411 shares, compared to its average volume of 11,732,815. The business has a fifty day simple moving average of $46.34 and a 200-day simple moving average of $52.69. The firm has a market capitalization of $29.06 billion, a price-to-earnings ratio of -31.39 and a beta of 1.45. Roblox has a 1 year low of $33.88 and a 1 year high of $113.60. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 7.82.

Roblox (NYSE:RBLX) last issued its earnings results on Thursday, October 29th. The company reported ($0.32) earnings per share for the quarter, topping the consensus estimate of ($0.43) by $0.11. Roblox had a negative return on equity of 303.93% and a negative net margin of 16.48%. The company had revenue of $1.57 billion during the quarter, compared to the consensus estimate of $1.63 billion. During the same quarter in the prior year, the business earned ($0.37) earnings per share. The company’s revenue was up 15.6% compared to the same quarter last year. Equities analysts forecast that Roblox will post -1.41 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, Director Gregory Baszucki sold 16,666 shares of the business’s stock in a transaction dated Tuesday, September 1st. The stock was sold at an average price of $40.47, for a total value of $674,473.02. Following the transaction, the director owned 1,261,169 shares in the company, valued at approximately $51,039,509.43. The trade was a 1.30% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Mark Reinstra sold 17,934 shares of the stock in a transaction dated Thursday, August 20th. The shares were sold at an average price of $37.96, for a total value of $680,774.64. Following the completion of the transaction, the insider directly owned 398,064 shares of the company’s stock, valued at $15,110,509.44. This represents a 4.31% decrease in their position. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last 90 days, insiders have sold 186,390 shares of company stock valued at $7,283,371. Insiders own 10.05% of the company’s stock.

Hedge Funds Weigh In On Roblox

Several institutional investors and hedge funds have recently made changes to their positions in the business. Activest Wealth Management grew its position in shares of Roblox by 72.9% during the third quarter. Activest Wealth Management now owns 588 shares of the company’s stock worth $25,000 after buying an additional 248 shares in the last quarter. Basecamp Wealth Advisors LLC increased its stake in shares of Roblox by 98.8% in the first quarter. Basecamp Wealth Advisors LLC now owns 507 shares of the company’s stock worth $29,000 after buying an additional 252 shares during the last quarter. Mather Group LLC. raised its holdings in Roblox by 2,458.6% in the third quarter. Mather Group LLC. now owns 742 shares of the company’s stock valued at $31,000 after acquiring an additional 713 shares in the last quarter. Root Financial Partners LLC raised its holdings in Roblox by 100.7% in the first quarter. Root Financial Partners LLC now owns 564 shares of the company’s stock valued at $32,000 after acquiring an additional 283 shares in the last quarter. Finally, Pinnacle Wealth Planning Services Inc. raised its holdings in Roblox by 234.7% in the third quarter. Pinnacle Wealth Planning Services Inc. now owns 753 shares of the company’s stock valued at $32,000 after acquiring an additional 528 shares in the last quarter. 94.46% of the stock is currently owned by hedge funds and other institutional investors.

Roblox Company Profile

Roblox Corporation operates Roblox, an online platform where users can create, publish, and participate in interactive digital experiences. The platform supports a broad range of user-generated content, including games, social spaces, entertainment, educational activities, and virtual events.

Roblox provides development tools through Roblox Studio, enabling creators and developers to design experiences and build virtual items and environments. Users can customize avatars, communicate with others, and access content across computers, mobile devices, consoles, and other supported platforms.