Andrea Wong Sells 562 Shares of Roblox (NYSE:RBLX) Stock

Roblox Corporation (NYSE:RBLX) Director Andrea Wong sold 562 shares of the business’s stock in a transaction dated Monday, August 31st. The stock was sold at an average price of $40.89, for a total value of $22,980.18. Following the transaction, the director owned 45,265 shares in the company, valued at approximately $1,850,885.85. This represents a 1.23% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

Roblox Price Performance

RBLX stock opened at $41.23 on Thursday. 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 Corporation has a 1 year low of $33.88 and a 1 year high of $142.00. The firm has a market cap of $27.62 billion, a P/E ratio of -28.83 and a beta of 1.47. The stock has a 50-day simple moving average of $45.65 and a 200-day simple moving average of $51.03.

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

Roblox declared that its board has approved a share repurchase program on Tuesday, May 19th that permits the company to buyback $3.00 billion in outstanding shares. This buyback authorization permits the company to repurchase up to 9.5% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s management believes its stock is undervalued.

Wall Street Analyst Weigh In

Several research firms recently issued reports on RBLX. Benchmark downgraded shares of Roblox from a “hold” rating to a “sell” rating and set a $33.00 price target on the stock. in a research note on Friday, July 31st. B. Riley Financial decreased their price objective on shares of Roblox from $80.00 to $45.00 and set a “buy” rating for the company in a research report on Monday, August 3rd. Wolfe Research downgraded Roblox from an “outperform” rating to a “hold” rating in a research note on Friday, July 31st. Seaport Research Partners lowered Roblox to a “neutral” rating in a research report on Monday, June 29th. Finally, Piper Sandler reiterated a “neutral” rating and issued a $47.00 price target (down from $50.00) on shares of Roblox in a research note on Friday, July 31st. One analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, fifteen have assigned a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat, Roblox currently has a consensus rating of “Hold” and an average target price of $60.89.

Institutional Investors Weigh In On Roblox

Hedge funds and other institutional investors have recently modified their holdings of the stock. California State Teachers Retirement System grew its stake in Roblox by 5,370.1% in the second quarter. California State Teachers Retirement System now owns 49,445,613 shares of the company’s stock worth $2,688,852,000 after purchasing an additional 48,541,681 shares in the last quarter. Norges Bank acquired a new stake in Roblox during the fourth quarter valued at approximately $435,424,000. SRS Investment Management LLC acquired a new stake in Roblox during the fourth quarter valued at approximately $238,065,000. Amundi lifted its holdings in Roblox by 83.7% during the 1st quarter. Amundi now owns 5,774,151 shares of the company’s stock worth $326,586,000 after buying an additional 2,631,074 shares during the last quarter. Finally, Capital International Investors grew its position in shares of Roblox by 7.3% in the 4th quarter. Capital International Investors now owns 31,953,301 shares of the company’s stock worth $2,589,282,000 after acquiring an additional 2,184,439 shares in the last quarter. 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.