Arvind Chakravarthy Sells 14,269 Shares of Roblox Co. (NYSE:RBLX) Stock

Roblox Co. (NYSE:RBLX) insider Arvind Chakravarthy sold 14,269 shares of the company’s stock in a transaction dated Tuesday, November 26th. The stock was sold at an average price of $49.43, for a total value of $705,316.67. Following the sale, the insider now owns 244,803 shares of the company’s stock, valued at approximately $12,100,612.29. This trade represents a 5.51 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

Roblox Price Performance

Roblox stock opened at $49.37 on Thursday. The company has a debt-to-equity ratio of 5.64, a current ratio of 0.98 and a quick ratio of 0.98. The company has a market capitalization of $29.99 billion, a PE ratio of -30.10 and a beta of 1.56. Roblox Co. has a one year low of $29.55 and a one year high of $55.10. The business has a 50 day simple moving average of $46.21 and a 200 day simple moving average of $41.27.

Roblox (NYSE:RBLX) last posted its earnings results on Thursday, October 31st. The company reported ($0.37) EPS for the quarter, topping the consensus estimate of ($0.39) by $0.02. The business had revenue of $919.00 million during the quarter, compared to the consensus estimate of $1.02 billion. Roblox had a negative return on equity of 986.36% and a negative net margin of 30.90%. Roblox’s revenue was up 9.5% on a year-over-year basis. During the same quarter last year, the company earned ($0.45) EPS. On average, sell-side analysts forecast that Roblox Co. will post -1.56 EPS for the current fiscal year.

Institutional Investors Weigh In On Roblox

Hedge funds and other institutional investors have recently bought and sold shares of the business. DekaBank Deutsche Girozentrale increased its holdings in Roblox by 2.4% during the 1st quarter. DekaBank Deutsche Girozentrale now owns 60,520 shares of the company’s stock valued at $2,318,000 after purchasing an additional 1,419 shares in the last quarter. Entropy Technologies LP increased its holdings in Roblox by 168.4% during the 3rd quarter. Entropy Technologies LP now owns 99,649 shares of the company’s stock valued at $4,410,000 after purchasing an additional 62,521 shares in the last quarter. Dragoneer Investment Group LLC increased its holdings in Roblox by 26.9% during the 2nd quarter. Dragoneer Investment Group LLC now owns 11,745,203 shares of the company’s stock valued at $437,039,000 after purchasing an additional 2,488,044 shares in the last quarter. Itau Unibanco Holding S.A. increased its holdings in Roblox by 62.0% during the 2nd quarter. Itau Unibanco Holding S.A. now owns 37,482 shares of the company’s stock valued at $1,395,000 after purchasing an additional 14,348 shares in the last quarter. Finally, AEGON ASSET MANAGEMENT UK Plc increased its holdings in Roblox by 23.2% during the 3rd quarter. AEGON ASSET MANAGEMENT UK Plc now owns 447,067 shares of the company’s stock valued at $19,783,000 after purchasing an additional 84,198 shares in the last quarter. 91.08% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

RBLX has been the subject of several recent analyst reports. Needham & Company LLC upped their price target on Roblox from $50.00 to $60.00 and gave the stock a “buy” rating in a research note on Friday, November 1st. Barclays boosted their price objective on Roblox from $40.00 to $50.00 and gave the stock an “equal weight” rating in a research report on Friday, November 1st. The Goldman Sachs Group boosted their price objective on Roblox from $45.00 to $55.00 and gave the stock a “neutral” rating in a research report on Friday, November 1st. Canaccord Genuity Group boosted their price objective on Roblox from $50.00 to $60.00 and gave the stock a “buy” rating in a research report on Friday, November 1st. Finally, Wedbush reissued an “outperform” rating and set a $49.00 price objective on shares of Roblox in a research report on Friday, October 25th. Seven equities 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 stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $55.30.

Roblox Company Profile

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.