Roblox (NYSE:RBLX) Trading Down 4.1% Following Insider Selling

Roblox Co. (NYSE:RBLX)’s share price was down 4.1% on Thursday after an insider sold shares in the company. The stock traded as low as $49.29 and last traded at $49.40. Approximately 4,303,808 shares were traded during mid-day trading, a decline of 43% from the average daily volume of 7,581,167 shares. The stock had previously closed at $51.52.

Specifically, CEO David Baszucki sold 166,666 shares of the business’s stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $50.71, for a total value of $8,451,632.86. Following the transaction, the chief executive officer now owns 135,755 shares in the company, valued at $6,884,136.05. The trade was a 55.11 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Michael Guthrie sold 40,000 shares of the firm’s stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $52.07, for a total value of $2,082,800.00. Following the sale, the chief financial officer now directly owns 352,844 shares of the company’s stock, valued at $18,372,587.08. This trade represents a 10.18 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In related news, Director Anthony P. Lee sold 25,000 shares of the stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $52.34, for a total value of $1,308,500.00. Following the transaction, the director now owns 5,731,695 shares in the company, valued at approximately $299,996,916.30. This represents a 0.43 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on RBLX shares. Roth Mkm increased their price target on shares of Roblox from $35.00 to $42.00 and gave the stock a “neutral” rating in a research note on Monday, July 29th. Citigroup raised their target price on Roblox from $53.00 to $63.00 and gave the company a “buy” rating in a report on Tuesday, November 5th. Canaccord Genuity Group 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. Deutsche Bank Aktiengesellschaft boosted their target price on Roblox from $45.00 to $60.00 and gave the stock a “buy” rating in a report on Monday, November 4th. Finally, BMO Capital Markets reiterated an “outperform” rating and set a $62.00 price target (up previously from $56.00) on shares of Roblox in a report on Friday, November 1st. Seven investment analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $55.30.

Roblox Stock Up 0.1 %

The company has a market capitalization of $30.00 billion, a P/E ratio of -30.11 and a beta of 1.56. The business’s fifty day moving average price is $46.00 and its 200 day moving average price is $40.94. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 5.64.

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

Institutional Investors Weigh In On Roblox

Large investors have recently made changes to their positions in the company. DekaBank Deutsche Girozentrale grew its stake in Roblox by 2.4% during the first quarter. DekaBank Deutsche Girozentrale now owns 60,520 shares of the company’s stock worth $2,318,000 after buying an additional 1,419 shares during the last quarter. Entropy Technologies LP lifted its position in shares of Roblox by 168.4% during the third quarter. Entropy Technologies LP now owns 99,649 shares of the company’s stock worth $4,410,000 after purchasing an additional 62,521 shares in the last quarter. Dragoneer Investment Group LLC grew its stake in shares of Roblox by 26.9% during the second 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 during the last quarter. Itau Unibanco Holding S.A. increased its holdings in shares of Roblox by 62.0% in the second 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, Acadian Asset Management LLC raised its position in shares of Roblox by 319.6% during the first quarter. Acadian Asset Management LLC now owns 28,271 shares of the company’s stock worth $1,075,000 after acquiring an additional 21,533 shares during the last quarter. Institutional investors own 91.08% of the company’s stock.

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.