Roblox (NYSE:RBLX) Stock Gets Price Target Reduction from JPMorgan Chase & Co.

Roblox (NYSE:RBLX) had its target price reduced by JPMorgan Chase & Co. from $53.00 to $46.00 in a research report report published on Friday morning,Benzinga reports. They currently have a neutral rating on the stock.

RBLX has been the topic of several other research reports. Oppenheimer restated an “outperform” rating and set a $50.00 target price (down from $82.00) on shares of Roblox in a research report on Friday, September 11th. Benchmark lowered shares of Roblox from a “hold” rating to a “sell” rating and set a $33.00 price objective for the company. in a research note on Friday, July 31st. The Goldman Sachs Group reiterated a “buy” rating and set a $55.00 target price on shares of Roblox in a research report on Friday. Needham & Company LLC restated a “buy” rating and set a $55.00 price target on shares of Roblox in a research report on Friday. Finally, B. Riley Financial lowered their price objective on shares of Roblox from $80.00 to $45.00 and set a “buy” rating for the company in a report on Monday, August 3rd. Two analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating, twelve have given a Hold rating and five have assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $53.19.

Roblox Stock Performance

Shares of RBLX opened at $43.01 on Friday. The company has a debt-to-equity ratio of 7.82, a quick ratio of 0.82 and a current ratio of 0.82. Roblox has a twelve month low of $33.88 and a twelve month high of $119.85. The firm has a market cap of $28.87 billion, a P/E ratio of -31.17 and a beta of 1.45. The firm’s 50 day moving average price is $46.34 and its two-hundred day moving average price is $52.69.

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

Insiders Place Their Bets

In related news, Director Gregory Baszucki sold 16,666 shares of the stock in a transaction on Tuesday, September 1st. The shares were sold at an average price of $40.47, for a total transaction of $674,473.02. Following the sale, the director directly owned 1,261,169 shares of the company’s stock, valued at approximately $51,039,509.43. This represents a 1.30% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Mark Reinstra sold 17,934 shares of the company’s stock in a transaction dated Thursday, August 20th. The shares were sold at an average price of $37.96, for a total transaction of $680,774.64. Following the completion of the sale, 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. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold a total of 186,390 shares of company stock valued at $7,283,371 in the last three months. 10.05% of the stock is currently owned by insiders.

Institutional Trading of Roblox

Hedge funds and other institutional investors have recently made changes to their positions in the company. Assenagon Asset Management S.A. grew its holdings in shares of Roblox by 216.4% during the third quarter. Assenagon Asset Management S.A. now owns 5,992,101 shares of the company’s stock valued at $253,885,000 after buying an additional 4,098,311 shares in the last quarter. Allspring Global Investments Holdings LLC raised its stake in Roblox by 379.8% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 921,424 shares of the company’s stock valued at $53,102,000 after purchasing an additional 729,379 shares during the last quarter. PensionDanmark Pensionsforsikringsaktieselskab increased its stake in Roblox by 35.5% in the second quarter. PensionDanmark Pensionsforsikringsaktieselskab now owns 130,130 shares of the company’s stock valued at $7,076,000 after acquiring an additional 34,120 shares during the period. Odyssean LLC grew its stake in Roblox by 344.4% during the second quarter. Odyssean LLC now owns 40,038 shares of the company’s stock worth $2,177,000 after buying an additional 31,029 shares during the last quarter. Finally, Readystate Asset Management LP increased its holdings in shares of Roblox by 685.8% in the second quarter. Readystate Asset Management LP now owns 377,201 shares of the company’s stock valued at $20,512,000 after purchasing an additional 329,201 shares in the last quarter. Institutional investors and hedge funds own 94.46% of the company’s stock.

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.