Roblox (NYSE:RBLX) Now Covered by DA Davidson

Investment analysts at DA Davidson began coverage on shares of Roblox (NYSE:RBLX) in a research note issued on Wednesday,Benzinga reports. The firm set a “neutral” rating and a $65.00 price target on the stock. DA Davidson’s price target would indicate a potential downside of 2.96% from the company’s previous close.

RBLX has been the topic of a number of other research reports. Roth Mkm raised Roblox from a “neutral” rating to a “buy” rating and increased their target price for the company from $78.00 to $84.00 in a report on Monday, February 9th. Wedbush reaffirmed an “outperform” rating and set a $110.00 price target on shares of Roblox in a research report on Friday, February 6th. JPMorgan Chase & Co. dropped their price objective on shares of Roblox from $100.00 to $75.00 and set a “neutral” rating on the stock in a report on Friday, February 6th. Wall Street Zen lowered shares of Roblox from a “hold” rating to a “sell” rating in a research report on Saturday. Finally, Wolfe Research set a $100.00 target price on shares of Roblox in a report on Monday, January 5th. One investment analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating, eight have given a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, Roblox has an average rating of “Moderate Buy” and a consensus price target of $117.35.

Roblox Stock Performance

Shares of RBLX stock opened at $66.98 on Wednesday. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 2.65. The company has a 50 day moving average price of $73.06 and a 200-day moving average price of $100.57. Roblox has a 52 week low of $50.10 and a 52 week high of $150.59. The firm has a market capitalization of $44.32 billion, a PE ratio of -43.21 and a beta of 1.62.

Roblox (NYSE:RBLX) last issued its earnings results on Thursday, February 5th. The company reported ($0.45) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.49) by $0.04. Roblox had a negative net margin of 21.78% and a negative return on equity of 304.42%. The company had revenue of $1.42 billion for the quarter, compared to analysts’ expectations of $2.08 billion. During the same quarter last year, the company posted ($0.33) earnings per share. The firm’s quarterly revenue was up 122.6% on a year-over-year basis. As a group, equities research analysts expect that Roblox will post -1.49 earnings per share for the current year.

Insiders Place Their Bets

In related news, insider Matthew D. Kaufman sold 30,034 shares of the stock in a transaction dated Tuesday, February 10th. The stock was 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 trade represents a 8.90% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO David Baszucki sold 10,834 shares of the business’s stock in a transaction that occurred on Friday, February 20th. The stock was sold at an average price of $61.63, for a total value of $667,699.42. Following the completion of the transaction, the chief executive officer directly owned 800,539 shares in the company, valued at approximately $49,337,218.57. This represents a 1.34% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 703,144 shares of company stock worth $51,681,640 in the last three months. 12.92% of the stock is owned by company insiders.

Institutional Investors Weigh In On Roblox

Several institutional investors and hedge funds have recently modified their holdings of the stock. NewEdge Advisors LLC boosted its stake in Roblox by 2.3% during the first quarter. NewEdge Advisors LLC now owns 10,236 shares of the company’s stock valued at $597,000 after buying an additional 231 shares during the last quarter. Sivia Capital Partners LLC boosted its stake in Roblox by 70.2% during the second quarter. Sivia Capital Partners LLC now owns 13,000 shares of the company’s stock worth $1,368,000 after buying an additional 5,363 shares during the period. Envestnet Asset Management Inc. increased its position in Roblox by 74.8% during the second quarter. Envestnet Asset Management Inc. now owns 117,031 shares of the company’s stock valued at $12,312,000 after acquiring an additional 50,087 shares during the last quarter. Atria Investments Inc purchased a new stake in shares of Roblox in the second quarter valued at $217,000. Finally, Sigma Planning Corp bought a new stake in shares of Roblox in the 2nd quarter worth about $421,000. Institutional investors own 94.46% of the company’s stock.

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.