Roblox (NYSE:RBLX) Director Gregory Baszucki Sells 16,666 Shares

Roblox Corporation (NYSE:RBLX) Director Gregory Baszucki sold 16,666 shares of Roblox stock in a transaction dated Tuesday, September 1st. The shares were sold at an average price of $40.47, for a total value of $674,473.02. Following the completion of the transaction, the director directly owned 1,261,169 shares of the company’s stock, valued at $51,039,509.43. This represents a 1.30% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Gregory Baszucki also recently made the following trade(s):

• On Tuesday, August 4th, Gregory Baszucki sold 16,666 shares of Roblox stock. The stock was sold at an average price of $37.46, for a total transaction of $624,308.36.
• On Wednesday, July 1st, Gregory Baszucki sold 16,666 shares of Roblox stock. The stock was sold at an average price of $57.69, for a total transaction of $961,461.54.

Roblox Trading Up 1.4%

RBLX opened at $41.23 on Thursday. 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 market capitalization of $27.62 billion, a PE ratio of -28.83 and a beta of 1.47. Roblox Corporation has a 1-year low of $33.88 and a 1-year high of $142.00. The firm has a 50-day moving average price of $45.65 and a two-hundred day moving average price of $51.03.

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

Roblox declared that its Board of Directors has initiated a stock repurchase plan on Tuesday, May 19th that permits the company to buyback $3.00 billion in outstanding shares. This buyback authorization permits the company to reacquire up to 9.5% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s leadership believes its stock is undervalued.

Analysts Set New Price Targets

A number of analysts recently commented on RBLX shares. Wall Street Zen upgraded Roblox from a “sell” rating to a “hold” rating in a research report on Saturday, July 18th. UBS Group set a $33.00 price target on shares of Roblox in a research note on Friday, July 31st. BTIG Research lowered shares of Roblox from a “neutral” rating to a “sell” rating and set a $30.00 price objective on the stock. in a report on Friday, July 31st. Wolfe Research cut shares of Roblox from an “outperform” rating to a “hold” rating in a research note on Friday, July 31st. Finally, Seaport Research Partners cut shares of Roblox to a “neutral” rating in a research note on Monday, June 29th. One research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, fifteen have given a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $60.89.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Allspring Global Investments Holdings LLC lifted its holdings in shares of Roblox by 379.8% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 921,424 shares of the company’s stock valued at $53,102,000 after purchasing an additional 729,379 shares in the last quarter. PensionDanmark Pensionsforsikringsaktieselskab grew its position in shares of Roblox by 35.5% in the 2nd quarter. PensionDanmark Pensionsforsikringsaktieselskab now owns 130,130 shares of the company’s stock valued at $7,076,000 after purchasing an additional 34,120 shares during the period. Glynn Capital Management LLC bought a new stake in Roblox during the 4th quarter worth approximately $5,706,000. Assenagon Asset Management S.A. increased its stake in Roblox by 89.0% during the 2nd quarter. Assenagon Asset Management S.A. now owns 1,893,790 shares of the company’s stock worth $102,984,000 after purchasing an additional 891,634 shares in the last quarter. Finally, Militia Capital Management LLC acquired a new stake in Roblox during the 1st quarter worth approximately $2,590,000. 94.46% of the stock is currently owned by institutional investors.

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.