Roblox (NYSE:RBLX) Shares Down 3.7% Following Insider Selling

by · The Markets Daily

Roblox Co. (NYSE:RBLX – Get Free Report)’s stock price fell 3.7% during trading on Thursday after an insider sold shares in the company. The company traded as low as $45.69 and last traded at $45.87. 1,522,939 shares were traded during trading, a decline of 79% from the average session volume of 7,203,964 shares. The stock had previously closed at $47.64.

Specifically, Director Gregory Baszucki sold 13,000 shares of Roblox stock in a transaction on Wednesday, September 25th. The shares were sold at an average price of $47.75, for a total transaction of $620,750.00. Following the sale, the director now directly owns 9,662,103 shares in the company, valued at approximately $461,365,418.25. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Mark Reinstra sold 17,000 shares of the firm’s stock in a transaction dated Monday, September 23rd. The stock was sold at an average price of $45.58, for a total value of $774,860.00. Following the transaction, the insider now directly owns 327,009 shares in the company, valued at approximately $14,905,070.22. The disclosure for this sale can be found here. In other news, CEO David Baszucki sold 166,666 shares of the business’s stock in a transaction dated Wednesday, September 18th. The stock was sold at an average price of $45.56, for a total value of $7,593,302.96. Following the completion of the sale, the chief executive officer now directly owns 135,755 shares of the company’s stock, valued at approximately $6,184,997.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

Wall Street Analyst Weigh In

RBLX has been the topic of several research analyst reports. BMO Capital Markets reaffirmed an “outperform” rating and set a $56.00 price target on shares of Roblox in a research report on Tuesday, July 30th. Jefferies Financial Group began coverage on shares of Roblox in a report on Thursday, July 11th. They issued a “hold” rating and a $42.00 target price on the stock. Citigroup increased their price target on shares of Roblox from $46.00 to $53.00 and gave the stock a “buy” rating in a research note on Wednesday. BTIG Research lifted their price objective on shares of Roblox from $47.00 to $51.00 and gave the company a “buy” rating in a research note on Monday, September 9th. Finally, Macquarie increased their target price on shares of Roblox from $46.00 to $50.00 and gave the stock an “outperform” rating in a research note on Monday, August 5th. Eight research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $44.81.

View Our Latest Report on Roblox

Roblox Stock Performance

The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 9.04. The business has a 50 day moving average of $42.36 and a 200-day moving average of $38.57.

Roblox (NYSE:RBLX – Get Free Report) last released its quarterly earnings results on Thursday, August 1st. The company reported ($0.32) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.39) by $0.07. Roblox had a negative net margin of 34.12% and a negative return on equity of 1,187.59%. The company had revenue of $893.50 million for the quarter, compared to analysts’ expectations of $897.88 million. During the same period last year, the company earned ($0.46) EPS. The firm’s revenue for the quarter was up 31.2% compared to the same quarter last year. Analysts expect that Roblox Co. will post -1.59 earnings per share for the current year.

Hedge Funds Weigh In On Roblox

Large investors have recently added to or reduced their stakes in the business. Sanctuary Advisors LLC acquired a new position in shares of Roblox during the 2nd quarter valued at about $1,105,000. Coronation Fund Managers Ltd. acquired a new position in Roblox during the second quarter worth approximately $2,663,000. Teachers Retirement System of The State of Kentucky raised its stake in Roblox by 6.3% during the second quarter. Teachers Retirement System of The State of Kentucky now owns 210,737 shares of the company’s stock worth $7,841,000 after purchasing an additional 12,500 shares during the period. Cetera Investment Advisers boosted its holdings in shares of Roblox by 4.4% in the 2nd quarter. Cetera Investment Advisers now owns 41,332 shares of the company’s stock valued at $1,538,000 after purchasing an additional 1,748 shares during the last quarter. Finally, Greenvale Capital LLP purchased a new stake in shares of Roblox during the 2nd quarter valued at $89,304,000. 91.08% of the stock is currently owned by hedge funds and other institutional investors.

About Roblox

(Get Free Report)

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.

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