Roblox (NYSE:RBLX) CAO Sells 5,061 Shares of Stock

Roblox Corporation (NYSE:RBLX) CAO Amy Marie Rawlings sold 5,061 shares of the company’s stock in a transaction on Thursday, August 20th. The shares were sold at an average price of $37.97, for a total transaction of $192,166.17. Following the completion of the sale, the chief accounting officer owned 68,745 shares of the company’s stock, valued at approximately $2,610,247.65. This trade represents a 6.86% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Amy Marie Rawlings also recently made the following trade(s):

• On Tuesday, May 26th, Amy Marie Rawlings sold 274 shares of Roblox stock. The stock was sold at an average price of $48.00, for a total transaction of $13,152.00.

Roblox Stock Performance

NYSE RBLX traded up $0.33 during trading on Monday, reaching $38.70. The company’s stock had a trading volume of 8,331,997 shares, compared to its average volume of 11,929,390. The business’s fifty day moving average price is $47.11 and its 200-day moving average price is $52.57. Roblox Corporation has a twelve month low of $33.88 and a twelve month high of $142.00. The company has a debt-to-equity ratio of 7.82, a quick ratio of 0.82 and a current ratio of 0.82. The firm has a market cap of $25.93 billion, a price-to-earnings ratio of -27.06 and a beta of 1.46.

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

Roblox announced that its board has authorized a share repurchase program on Tuesday, May 19th that authorizes the company to buyback $3.00 billion in shares. This buyback authorization authorizes the company to purchase up to 9.5% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s management believes its shares are undervalued.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of RBLX. California State Teachers Retirement System increased its holdings in shares of Roblox by 5,370.1% in the 2nd quarter. California State Teachers Retirement System now owns 49,445,613 shares of the company’s stock valued at $2,688,852,000 after purchasing an additional 48,541,681 shares in the last quarter. Readystate Asset Management LP boosted its holdings in Roblox by 685.8% during the second quarter. Readystate Asset Management LP now owns 377,201 shares of the company’s stock worth $20,512,000 after buying an additional 329,201 shares in the last quarter. HB Wealth Management LLC grew its position in Roblox by 24.5% during the second quarter. HB Wealth Management LLC now owns 19,542 shares of the company’s stock worth $1,063,000 after buying an additional 3,844 shares during the period. Saudi Central Bank grew its position in Roblox by 91.6% during the second quarter. Saudi Central Bank now owns 41,683 shares of the company’s stock worth $2,267,000 after buying an additional 19,929 shares during the period. Finally, Angeles Wealth Management LLC purchased a new position in Roblox in the second quarter valued at about $915,000. Institutional investors and hedge funds own 94.46% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the company. Needham & Company LLC cut their price target on Roblox from $60.00 to $50.00 and set a “buy” rating for the company in a research note on Friday, July 31st. Canaccord Genuity Group set a $58.00 price objective on shares of Roblox in a research report on Friday, July 31st. Bank of America cut shares of Roblox from a “buy” rating to a “neutral” rating and set a $48.00 price objective on the stock. in a research note on Friday, May 1st. UBS Group set a $33.00 price objective on shares of Roblox in a research report on Friday, July 31st. Finally, Oppenheimer reduced their target price on shares of Roblox from $82.00 to $50.00 and set an “outperform” rating for the company in a research note on Tuesday, August 4th. One analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, fifteen have issued a Hold rating and three have given a Sell rating to the company’s stock. According to data from MarketBeat, Roblox currently has a consensus rating of “Hold” and an average target price of $60.89.

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.