Roblox (NYSE:RBLX) Upgraded at JPMorgan Chase & Co.

JPMorgan Chase & Co. upgraded shares of Roblox (NYSE:RBLX) from a neutral rating to an overweight rating in a report released on Tuesday, Marketbeat.com reports. They currently have $48.00 price target on the stock, up from their prior price target of $41.00.

RBLX has been the topic of a number of other reports. Barclays raised Roblox from an underweight rating to an equal weight rating and upped their price target for the stock from $26.00 to $46.00 in a research note on Thursday, February 8th. Needham & Company LLC boosted their price objective on Roblox from $51.00 to $55.00 and gave the stock a buy rating in a report on Thursday, February 8th. Wedbush boosted their price objective on Roblox from $53.00 to $56.00 and gave the stock an outperform rating in a report on Thursday, February 8th. The Goldman Sachs Group raised Roblox from a sell rating to a neutral rating and boosted their price objective for the stock from $35.00 to $48.00 in a report on Thursday, February 8th. Finally, Benchmark reissued a buy rating and set a $46.00 price objective on shares of Roblox in a report on Tuesday, January 23rd. Four analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of Moderate Buy and a consensus price target of $47.60.

Roblox Stock Up 1.3 %

RBLX stock opened at $35.98 on Tuesday. The stock’s 50 day simple moving average is $38.53 and its 200 day simple moving average is $39.00. Roblox has a fifty-two week low of $24.88 and a fifty-two week high of $47.20. The company has a debt-to-equity ratio of 14.64, a quick ratio of 1.07 and a current ratio of 1.07. The company has a market cap of $21.27 billion, a P/E ratio of -19.24 and a beta of 1.63.

Roblox (NYSE:RBLX) last posted its quarterly earnings results on Wednesday, February 7th. The company reported ($0.52) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.57) by $0.05. Roblox had a negative return on equity of 770.71% and a negative net margin of 41.15%. The business had revenue of $1.13 billion for the quarter, compared to the consensus estimate of $1.05 billion. During the same period in the prior year, the business earned ($0.48) EPS. The firm’s revenue for the quarter was up 25.3% on a year-over-year basis. On average, research analysts expect that Roblox will post -2.1 earnings per share for the current fiscal year.

Insider Activity

In related news, CEO David Baszucki sold 200,000 shares of the company’s stock in a transaction that occurred on Friday, February 9th. The stock was sold at an average price of $44.15, for a total value of $8,830,000.00. Following the transaction, the chief executive officer now owns 1 shares in the company, valued at $44.15. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, CEO David Baszucki sold 200,000 shares of the company’s stock in a transaction that occurred on Friday, February 9th. The stock was sold at an average price of $44.15, for a total value of $8,830,000.00. Following the transaction, the chief executive officer now owns 1 shares in the company, valued at $44.15. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CAO Amy Marie Rawlings sold 3,777 shares of the company’s stock in a transaction that occurred on Wednesday, February 21st. The shares were sold at an average price of $40.64, for a total value of $153,497.28. Following the completion of the transaction, the chief accounting officer now owns 96,125 shares in the company, valued at approximately $3,906,520. The disclosure for this sale can be found here. Insiders sold a total of 712,374 shares of company stock valued at $29,639,338 over the last three months. Corporate insiders own 22.15% of the company’s stock.

Institutional Investors Weigh In On Roblox

Several institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. lifted its position in shares of Roblox by 3.7% during the fourth quarter. Vanguard Group Inc. now owns 46,264,280 shares of the company’s stock worth $2,115,203,000 after acquiring an additional 1,671,272 shares in the last quarter. Morgan Stanley boosted its stake in Roblox by 13.7% during the third quarter. Morgan Stanley now owns 41,014,115 shares of the company’s stock valued at $1,187,769,000 after buying an additional 4,927,848 shares during the period. ARK Investment Management LLC boosted its stake in Roblox by 28.5% during the third quarter. ARK Investment Management LLC now owns 11,973,881 shares of the company’s stock valued at $346,764,000 after buying an additional 2,655,333 shares during the period. Ieq Capital LLC boosted its stake in Roblox by 6.3% during the fourth quarter. Ieq Capital LLC now owns 9,725,211 shares of the company’s stock valued at $444,637,000 after buying an additional 573,463 shares during the period. Finally, Sumitomo Mitsui Trust Holdings Inc. boosted its stake in Roblox by 9.9% during the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 8,493,091 shares of the company’s stock valued at $324,266,000 after buying an additional 764,481 shares during the period. Hedge funds and other institutional investors own 91.08% of the company’s stock.

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.