Roblox (NYSE:RBLX) Price Target Lowered to $78.00 at Wells Fargo & Company

Roblox (NYSE:RBLX) had its price target lowered by stock analysts at Wells Fargo & Company from $97.00 to $78.00 in a research report issued to clients and investors on Monday, Marketbeat.com reports. The firm currently has an “overweight” rating on the stock. Wells Fargo & Company‘s price objective points to a potential upside of 35.62% from the company’s current price.

Several other research analysts also recently weighed in on the stock. Barclays decreased their price target on shares of Roblox from $130.00 to $115.00 and set an “equal weight” rating on the stock in a research report on Friday, February 6th. Wolfe Research set a $100.00 target price on Roblox in a research report on Monday, January 5th. Piper Sandler reissued an “overweight” rating and set a $100.00 price target (down from $125.00) on shares of Roblox in a report on Friday, February 6th. TD Cowen restated a “sell” rating on shares of Roblox in a research report on Tuesday, January 27th. Finally, B. Riley Financial started coverage on Roblox in a research report on Tuesday, December 9th. They set a “buy” rating and a $125.00 price objective on the stock. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, seven have assigned a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $116.76.

Roblox Stock Down 4.3%

RBLX stock traded down $2.60 during trading on Monday, hitting $57.51. 2,362,682 shares of the stock traded hands, compared to its average volume of 11,693,432. The stock has a market cap of $38.05 billion, a price-to-earnings ratio of -37.06 and a beta of 1.67. The company has a debt-to-equity ratio of 2.65, a current ratio of 0.96 and a quick ratio of 0.96. Roblox has a 1 year low of $50.10 and a 1 year high of $150.59. The firm’s 50 day moving average is $63.12 and its two-hundred day moving average is $89.41.

Roblox (NYSE:RBLX) last released its quarterly earnings data on Thursday, February 5th. The company reported ($0.45) EPS for the quarter, beating the consensus estimate of ($0.49) by $0.04. The company had revenue of $1.42 billion for the quarter, compared to analysts’ expectations of $2.08 billion. Roblox had a negative return on equity of 304.42% and a negative net margin of 21.78%.Roblox’s revenue was up 122.6% compared to the same quarter last year. During the same period last year, the firm posted ($0.33) earnings per share. On average, sell-side analysts anticipate that Roblox will post -1.49 EPS for the current year.

Insider Transactions at Roblox

In other Roblox news, insider Mark Reinstra sold 60,000 shares of the company’s stock in a transaction that occurred on Friday, February 13th. The stock was sold at an average price of $63.94, for a total value of $3,836,400.00. Following the completion of the transaction, the insider directly owned 394,322 shares in the company, valued at $25,212,948.68. This represents a 13.21% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Matthew D. Kaufman sold 30,034 shares of Roblox stock in a transaction on Tuesday, February 10th. The shares were sold at an average price of $72.65, for a total transaction of $2,181,970.10. Following the completion of the sale, the insider owned 307,263 shares in the company, valued at approximately $22,322,656.95. This represents a 8.90% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 593,914 shares of company stock valued at $42,261,697. 12.92% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. Reyes Financial Architecture Inc. increased its position in Roblox by 164.4% in the fourth quarter. Reyes Financial Architecture Inc. now owns 312 shares of the company’s stock worth $25,000 after purchasing an additional 194 shares during the last quarter. Pilgrim Partners Asia Pte Ltd purchased a new position in shares of Roblox in the 3rd quarter worth $26,000. Fideuram Asset Management Ireland dac bought a new stake in shares of Roblox in the 4th quarter worth about $27,000. Total Investment Management Inc. purchased a new stake in shares of Roblox during the 2nd quarter valued at about $29,000. Finally, GW&K Investment Management LLC raised its position in shares of Roblox by 76.3% during the 4th quarter. GW&K Investment Management LLC now owns 372 shares of the company’s stock valued at $30,000 after buying an additional 161 shares in the last quarter. 94.46% of the stock is currently owned by institutional investors.

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.