Roblox (NYSE:RBLX) Price Target Lowered to $70.00 at Morgan Stanley

Roblox (NYSE:RBLX) had its target price lowered by equities research analysts at Morgan Stanley from $75.00 to $70.00 in a report released on Thursday,Benzinga reports. The brokerage currently has an “overweight” rating on the stock. Morgan Stanley’s price objective indicates a potential upside of 17.13% from the company’s current price.

A number of other research analysts have also weighed in on RBLX. JPMorgan Chase & Co. raised their target price on Roblox from $62.00 to $72.00 and gave the company an “overweight” rating in a report on Friday, January 10th. Wedbush restated an “outperform” rating and set a $83.00 price objective on shares of Roblox in a research note on Friday, February 7th. CICC Research initiated coverage on shares of Roblox in a research note on Tuesday, January 14th. They issued an “outperform” rating for the company. Barclays dropped their price target on shares of Roblox from $50.00 to $46.00 and set an “equal weight” rating on the stock in a research report on Friday, February 7th. Finally, Moffett Nathanson downgraded shares of Roblox from a “neutral” rating to a “sell” rating and set a $34.00 price objective for the company. in a research report on Friday, February 7th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating, eighteen have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $64.00.

Roblox Stock Performance

Shares of RBLX stock opened at $59.76 on Thursday. Roblox has a 12 month low of $29.55 and a 12 month high of $75.74. The firm has a market capitalization of $37.56 billion, a PE ratio of -41.22 and a beta of 1.49. The firm has a fifty day simple moving average of $59.28 and a two-hundred day simple moving average of $56.68. The company has a current ratio of 1.02, a quick ratio of 0.98 and a debt-to-equity ratio of 4.82.

Roblox (NYSE:RBLX) last posted its earnings results on Thursday, February 6th. The company reported ($0.33) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.46) by $0.13. Roblox had a negative net margin of 25.97% and a negative return on equity of 665.98%. Analysts forecast that Roblox will post -1.49 EPS for the current fiscal year.

Insider Activity

In other news, CAO Amy Marie Rawlings sold 4,468 shares of the company’s stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $61.34, for a total transaction of $274,067.12. Following the sale, the chief accounting officer now directly owns 75,583 shares in the company, valued at $4,636,261.22. This represents a 5.58 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CFO Michael Guthrie sold 26,154 shares of the firm’s stock in a transaction that occurred on Tuesday, February 11th. The shares were sold at an average price of $65.94, for a total transaction of $1,724,594.76. Following the completion of the transaction, the chief financial officer now owns 417,079 shares of the company’s stock, valued at $27,502,189.26. This trade represents a 5.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 926,954 shares of company stock valued at $56,936,331 over the last quarter. Company insiders own 22.15% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the company. FMR LLC boosted its position in shares of Roblox by 89.4% during the 4th quarter. FMR LLC now owns 39,658,528 shares of the company’s stock valued at $2,294,642,000 after acquiring an additional 18,715,837 shares during the last quarter. Wealthfront Advisers LLC grew its stake in shares of Roblox by 74,400.8% during the fourth quarter. Wealthfront Advisers LLC now owns 17,335,594 shares of the company’s stock valued at $1,063,365,000 after buying an additional 17,312,325 shares during the last quarter. Arrowstreet Capital Limited Partnership increased its stake in Roblox by 1,084.2% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 4,813,347 shares of the company’s stock worth $278,500,000 after purchasing an additional 4,406,885 shares during the period. Durable Capital Partners LP purchased a new position in shares of Roblox in the fourth quarter worth $246,560,000. Finally, Ieq Capital LLC raised its stake in shares of Roblox by 26.8% during the fourth quarter. Ieq Capital LLC now owns 16,592,623 shares of the company’s stock valued at $960,049,000 after acquiring an additional 3,507,901 shares during the last quarter. 94.46% of the stock is currently owned by hedge funds and other institutional investors.

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.