Insider Selling: Roblox Co. (NYSE:RBLX) Insider Sells 24,000 Shares of Stock

Roblox Co. (NYSE:RBLX) insider Mark Reinstra sold 24,000 shares of Roblox stock in a transaction on Monday, December 23rd. The stock was sold at an average price of $59.75, for a total transaction of $1,434,000.00. Following the transaction, the insider now directly owns 278,161 shares in the company, valued at approximately $16,620,119.75. This represents a 7.94 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

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

• On Wednesday, November 20th, Mark Reinstra sold 16,480 shares of Roblox stock. The stock was sold at an average price of $51.43, for a total value of $847,566.40.

Roblox Price Performance

Shares of RBLX opened at $59.45 on Friday. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 5.64. The company’s fifty day simple moving average is $52.65 and its 200 day simple moving average is $44.99. Roblox Co. has a 1-year low of $29.55 and a 1-year high of $61.77. The company has a market cap of $36.12 billion, a price-to-earnings ratio of -36.25 and a beta of 1.50.

Roblox (NYSE:RBLX) last issued its earnings results on Thursday, October 31st. The company reported ($0.37) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.39) by $0.02. Roblox had a negative net margin of 30.90% and a negative return on equity of 986.36%. The company had revenue of $919.00 million for the quarter, compared to analysts’ expectations of $1.02 billion. During the same period in the prior year, the firm earned ($0.45) EPS. Roblox’s quarterly revenue was up 9.5% compared to the same quarter last year. On average, research analysts forecast that Roblox Co. will post -1.56 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several brokerages have issued reports on RBLX. The Goldman Sachs Group increased their price target on Roblox from $45.00 to $55.00 and gave the stock a “neutral” rating in a report on Friday, November 1st. Wedbush reissued an “outperform” rating and set a $49.00 target price on shares of Roblox in a research note on Friday, October 25th. Piper Sandler lifted their price target on shares of Roblox from $54.00 to $65.00 and gave the company an “overweight” rating in a research note on Friday, November 1st. Benchmark raised their price objective on shares of Roblox from $44.00 to $60.00 and gave the stock a “buy” rating in a report on Friday, November 1st. Finally, Macquarie upped their target price on shares of Roblox from $50.00 to $58.00 and gave the stock an “outperform” rating in a research note on Friday, November 1st. Seven investment analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $55.67.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the business. V Square Quantitative Management LLC bought a new stake in Roblox in the 3rd quarter valued at $27,000. Frazier Financial Advisors LLC raised its position in shares of Roblox by 20,800.0% in the third quarter. Frazier Financial Advisors LLC now owns 627 shares of the company’s stock valued at $28,000 after purchasing an additional 624 shares during the period. PARK CIRCLE Co acquired a new stake in shares of Roblox during the 2nd quarter worth about $30,000. Strategic Financial Concepts LLC bought a new stake in shares of Roblox during the 2nd quarter worth about $33,000. Finally, GAMMA Investing LLC grew its stake in Roblox by 132.8% in the 3rd quarter. GAMMA Investing LLC now owns 929 shares of the company’s stock valued at $41,000 after buying an additional 530 shares during the last quarter. 94.46% of the stock is currently owned by institutional investors.

About Roblox

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.