Roblox (NYSE:RBLX) Upgraded to “Overweight” by JPMorgan Chase & Co.

JPMorgan Chase & Co. upgraded shares of Roblox (NYSE:RBLX) from a neutral rating to an overweight rating in a research report report published on Tuesday, Marketbeat Ratings reports. They currently have $48.00 price target on the stock, up from their prior price target of $41.00.

Several other research analysts have also recently issued reports on RBLX. The Goldman Sachs Group upgraded shares of Roblox from a sell rating to a neutral rating and upped their target price for the company from $35.00 to $48.00 in a report on Thursday, February 8th. BMO Capital Markets upped their target price on shares of Roblox from $55.00 to $57.00 and gave the company an outperform rating in a report on Thursday, February 8th. Wedbush upped their target price on shares of Roblox from $53.00 to $56.00 and gave the company an outperform rating in a report on Thursday, February 8th. Barclays upgraded shares of Roblox from an underweight rating to an equal weight rating and upped their target price for the company from $26.00 to $46.00 in a report on Thursday, February 8th. Finally, Stifel Nicolaus restated a buy rating and issued a $53.00 target price on shares of Roblox in a report on Monday. Four analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company has an average rating of Moderate Buy and an average target price of $47.60.

Roblox Stock Up 1.6 %

NYSE:RBLX opened at $35.52 on Tuesday. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 14.64. The company’s 50-day moving average is $38.67 and its two-hundred day moving average is $38.96. Roblox has a 1-year low of $24.88 and a 1-year high of $47.20.

Roblox (NYSE:RBLX) last issued its quarterly earnings data on Wednesday, February 7th. The company reported ($0.52) EPS for the quarter, topping the consensus estimate of ($0.57) by $0.05. Roblox had a negative net margin of 41.15% and a negative return on equity of 770.71%. The firm had revenue of $1.13 billion for the quarter, compared to analyst estimates of $1.05 billion. During the same period in the prior year, the business posted ($0.48) EPS. The business’s revenue for the quarter was up 25.3% compared to the same quarter last year. As a group, equities analysts anticipate that Roblox will post -2.1 earnings per share for the current fiscal year.

Insider Transactions at Roblox

In other news, insider Mark Reinstra sold 4,000 shares of the firm’s stock in a transaction on Wednesday, April 17th. The shares were sold at an average price of $36.69, for a total value of $146,760.00. Following the completion of the sale, the insider now owns 359,453 shares in the company, valued at approximately $13,188,330.57. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CEO David Baszucki sold 200,000 shares of the stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $44.09, for a total value of $8,818,000.00. Following the completion of the transaction, the chief executive officer now owns 1 shares in the company, valued at approximately $44.09. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Mark Reinstra sold 4,000 shares of the stock in a transaction dated Wednesday, April 17th. The shares were sold at an average price of $36.69, for a total transaction of $146,760.00. Following the completion of the transaction, the insider now owns 359,453 shares of the company’s stock, valued at approximately $13,188,330.57. The disclosure for this sale can be found here. In the last quarter, insiders sold 699,374 shares of company stock worth $29,183,298. Company insiders own 22.15% of the company’s stock.

Hedge Funds Weigh In On Roblox

A number of large investors have recently made changes to their positions in RBLX. Vanguard Group Inc. increased its holdings in shares of Roblox by 29.0% in the 3rd quarter. Vanguard Group Inc. now owns 44,593,008 shares of the company’s stock valued at $1,291,414,000 after purchasing an additional 10,025,779 shares in the last quarter. Ieq Capital LLC increased its holdings in Roblox by 158.0% during the 3rd quarter. Ieq Capital LLC now owns 9,151,748 shares of the company’s stock valued at $265,035,000 after acquiring an additional 5,604,995 shares in the last quarter. Franklin Resources Inc. increased its holdings in Roblox by 195.1% during the 4th quarter. Franklin Resources Inc. now owns 7,809,329 shares of the company’s stock valued at $357,043,000 after acquiring an additional 5,162,833 shares in the last quarter. Morgan Stanley increased its holdings in Roblox by 13.7% during the 3rd quarter. Morgan Stanley now owns 41,014,115 shares of the company’s stock valued at $1,187,769,000 after acquiring an additional 4,927,848 shares in the last quarter. Finally, Norges Bank purchased a new position in Roblox during the 4th quarter valued at about $216,194,000. Hedge funds and other institutional investors own 91.08% of the company’s stock.

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.