Insider Selling: Roblox (NYSE:RBLX) Insider Sells $250,000.00 in Stock

Roblox Corporation (NYSE:RBLX) insider Mark Reinstra sold 6,250 shares of the business’s stock in a transaction on Wednesday, August 19th. The shares were sold at an average price of $40.00, for a total value of $250,000.00. Following the transaction, the insider owned 415,998 shares of the company’s stock, valued at approximately $16,639,920. The trade was a 1.48% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Mark Reinstra also recently made the following trade(s):

• On Monday, July 6th, Mark Reinstra sold 4,512 shares of Roblox stock. The stock was sold at an average price of $57.34, for a total value of $258,718.08.
• On Monday, June 8th, Mark Reinstra sold 5,978 shares of Roblox stock. The stock was sold at an average price of $41.71, for a total value of $249,342.38.

Roblox Stock Down 0.4%

NYSE:RBLX opened at $38.49 on Friday. The company has a market cap of $25.79 billion, a price-to-earnings ratio of -26.92 and a beta of 1.46. Roblox Corporation has a twelve month low of $33.88 and a twelve month high of $142.00. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 7.82. The stock has a fifty day simple moving average of $47.11 and a 200-day simple moving average of $52.67.

Roblox (NYSE:RBLX) last posted its quarterly earnings results on Thursday, July 30th. The company reported ($0.26) EPS for the quarter, topping analysts’ consensus estimates of ($0.34) by $0.08. The firm had revenue of $1.47 billion for the quarter, compared to analysts’ expectations of $1.60 billion. Roblox had a negative net margin of 17.60% and a negative return on equity of 292.85%. The business’s revenue for the quarter was up 8.3% on a year-over-year basis. During the same period in the prior year, the business posted ($0.41) earnings per share. Analysts anticipate that Roblox Corporation will post -1.39 EPS for the current year.

Roblox announced that its Board of Directors has authorized a share repurchase plan on Tuesday, May 19th that authorizes the company to buyback $3.00 billion in shares. This buyback authorization authorizes the company to reacquire up to 9.5% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s board of directors believes its stock is undervalued.

Hedge Funds Weigh In On Roblox

Institutional investors have recently bought and sold shares of the business. Hanson & Doremus Investment Management bought a new stake in Roblox during the 1st quarter valued at $25,000. Fideuram Asset Management Ireland dac purchased a new stake in shares of Roblox during the 4th quarter worth $27,000. Basecamp Wealth Advisors LLC boosted its position in Roblox by 98.8% during the first quarter. Basecamp Wealth Advisors LLC now owns 507 shares of the company’s stock valued at $29,000 after purchasing an additional 252 shares in the last quarter. GW&K Investment Management LLC boosted its position in Roblox by 76.3% during the fourth quarter. GW&K Investment Management LLC now owns 372 shares of the company’s stock valued at $30,000 after purchasing an additional 161 shares in the last quarter. Finally, Root Financial Partners LLC grew its stake in Roblox by 100.7% in the first quarter. Root Financial Partners LLC now owns 564 shares of the company’s stock valued at $32,000 after purchasing an additional 283 shares during the last quarter. 94.46% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts have commented on RBLX shares. Deutsche Bank Aktiengesellschaft downgraded shares of Roblox from a “buy” rating to a “hold” rating and dropped their target price for the stock from $56.00 to $38.00 in a research note on Friday, July 31st. Roth Capital set a $65.00 price target on Roblox in a report on Tuesday, May 5th. Raymond James Financial began coverage on Roblox in a research note on Monday, June 29th. They issued a “market perform” rating on the stock. Bank of America downgraded Roblox from a “buy” rating to a “neutral” rating and set a $48.00 price objective on the stock. in a report on Friday, May 1st. Finally, B. Riley Financial decreased their target price on Roblox from $80.00 to $45.00 and set a “buy” rating for the company in a research report on Monday, August 3rd. One research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, fifteen have issued a Hold rating and three have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $60.89.

About Roblox

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.