Canaccord Genuity Group Has Lowered Expectations for Roblox (NYSE:RBLX) Stock Price

Roblox (NYSE:RBLX) had its price objective decreased by Canaccord Genuity Group from $160.00 to $140.00 in a research note issued on Tuesday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. Canaccord Genuity Group’s target price suggests a potential upside of 107.86% from the company’s current price.

A number of other research analysts have also recently weighed in on RBLX. JPMorgan Chase & Co. cut shares of Roblox from an “overweight” rating to a “neutral” rating and dropped their price objective for the stock from $145.00 to $100.00 in a research note on Friday, December 12th. Wedbush lowered their target price on Roblox from $165.00 to $110.00 and set an “outperform” rating on the stock in a report on Friday. BTIG Research cut their price target on Roblox from $174.00 to $141.00 and set a “buy” rating for the company in a report on Wednesday, January 28th. Raymond James Financial restated an “outperform” rating and issued a $165.00 price objective (up from $155.00) on shares of Roblox in a research report on Tuesday, October 14th. Finally, Piper Sandler reaffirmed an “overweight” rating and set a $125.00 price objective on shares of Roblox in a research note on Tuesday, January 27th. Sixteen investment analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and three have issued a Sell rating to the company’s stock. According to MarketBeat, Roblox presently has an average rating of “Hold” and an average target price of $130.88.

Roblox Stock Performance

NYSE:RBLX opened at $67.35 on Tuesday. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 2.54. The company has a market capitalization of $44.11 billion, a P/E ratio of -47.10 and a beta of 1.64. The firm has a 50-day moving average price of $83.52 and a two-hundred day moving average price of $109.36. Roblox has a twelve month low of $50.10 and a twelve month high of $150.59.

Insider Buying and Selling at Roblox

In other Roblox news, CAO Amy Marie Rawlings sold 2,642 shares of the firm’s stock in a transaction dated Thursday, November 20th. The stock was sold at an average price of $95.24, for a total value of $251,624.08. Following the sale, the chief accounting officer directly owned 46,452 shares of the company’s stock, valued at approximately $4,424,088.48. This trade represents a 5.38% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Anthony P. Lee sold 7,000 shares of Roblox stock in a transaction dated Tuesday, January 13th. The shares were sold at an average price of $82.45, for a total value of $577,150.00. Following the completion of the sale, the director owned 256,768 shares of the company’s stock, valued at $21,170,521.60. This trade represents a 2.65% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 432,300 shares of company stock valued at $38,743,876. 12.92% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Roblox

Several hedge funds have recently modified their holdings of RBLX. Pilgrim Partners Asia Pte Ltd acquired a new position in Roblox during the third quarter worth approximately $26,000. Whittier Trust Co. of Nevada Inc. acquired a new position in shares of Roblox in the 3rd quarter valued at $37,000. Total Investment Management Inc. purchased a new stake in shares of Roblox during the 2nd quarter valued at $29,000. Root Financial Partners LLC acquired a new stake in shares of Roblox during the 3rd quarter worth $38,000. Finally, Sunbelt Securities Inc. raised its position in shares of Roblox by 58.7% in the 3rd quarter. Sunbelt Securities Inc. now owns 284 shares of the company’s stock worth $39,000 after buying an additional 105 shares during the period. 94.46% of the stock is owned by institutional investors and hedge funds.

About Roblox

Roblox Corporation operates Roblox, a user-generated online platform that enables people to create, share and monetize immersive 3D experiences and games. The core offering centers on Roblox Studio, a development environment that allows independent creators and studios to design interactive worlds using the company’s building tools and scripting language. Content on the platform spans games, virtual hangouts, branded experiences and live events, all delivered through a persistent social environment.

Roblox’s business model is built around its virtual economy and creator ecosystem.