Roblox (NYSE:RBLX) Price Target Lowered to $140.00 at Canaccord Genuity Group

Roblox (NYSE:RBLX) had its price objective lowered by investment analysts at Canaccord Genuity Group from $160.00 to $140.00 in a note issued to investors on Tuesday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. Canaccord Genuity Group’s price objective points to a potential upside of 107.86% from the stock’s current price.

Other analysts have also issued reports about the stock. Benchmark restated a “hold” rating on shares of Roblox in a research note on Monday. Needham & Company LLC reissued a “buy” rating and issued a $159.00 price objective on shares of Roblox in a research report on Friday, October 31st. Deutsche Bank Aktiengesellschaft set a $115.00 price objective on shares of Roblox in a report on Tuesday, January 20th. Morgan Stanley lowered their target price on shares of Roblox from $170.00 to $155.00 and set an “overweight” rating for the company in a research note on Tuesday, January 13th. Finally, Wells Fargo & Company dropped their target price on Roblox from $141.00 to $107.00 and set an “overweight” rating on the stock in a report on Thursday, January 8th. Sixteen research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and three have given a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $130.88.

Roblox Trading Up 2.4%

RBLX opened at $67.35 on Tuesday. The business has a fifty day moving average price of $83.52 and a 200 day moving average price of $109.36. The company has a debt-to-equity ratio of 2.54, a current ratio of 0.96 and a quick ratio of 0.96. Roblox has a 12 month low of $50.10 and a 12 month high of $150.59. The stock has a market capitalization of $44.11 billion, a price-to-earnings ratio of -47.10 and a beta of 1.64.

Insider Transactions at Roblox

In other Roblox news, Director Anthony P. Lee sold 7,000 shares of the firm’s stock in a transaction dated Tuesday, January 13th. The stock was sold at an average price of $82.45, for a total transaction of $577,150.00. Following the transaction, the director owned 256,768 shares of the company’s stock, valued at approximately $21,170,521.60. This trade represents a 2.65% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Naveen K. Chopra sold 19,424 shares of Roblox stock in a transaction dated Thursday, November 20th. The stock was sold at an average price of $95.23, for a total value of $1,849,747.52. Following the sale, the chief financial officer owned 337,036 shares in the company, valued at $32,095,938.28. This trade represents a 5.45% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 432,300 shares of company stock valued at $38,743,876 over the last quarter. 12.92% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Roblox

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. increased its holdings in Roblox by 1.6% in the fourth quarter. Vanguard Group Inc. now owns 63,458,784 shares of the company’s stock valued at $5,142,065,000 after buying an additional 1,020,786 shares in the last quarter. State Street Corp grew its holdings in shares of Roblox by 11.0% in the 3rd quarter. State Street Corp now owns 13,369,844 shares of the company’s stock worth $1,851,991,000 after acquiring an additional 1,326,575 shares during the period. Geode Capital Management LLC increased its stake in Roblox by 9.1% in the 2nd quarter. Geode Capital Management LLC now owns 10,039,983 shares of the company’s stock valued at $1,053,257,000 after purchasing an additional 834,230 shares in the last quarter. AQR Capital Management LLC raised its holdings in Roblox by 7.4% during the third quarter. AQR Capital Management LLC now owns 9,697,538 shares of the company’s stock worth $1,310,719,000 after purchasing an additional 665,127 shares during the last quarter. Finally, Franklin Resources Inc. raised its holdings in Roblox by 9.8% during the third quarter. Franklin Resources Inc. now owns 6,963,693 shares of the company’s stock worth $964,611,000 after purchasing an additional 619,048 shares during 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, 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.