Roblox (NYSE:RBLX) Insider Sells $772,050.50 in Stock

Roblox Corporation (NYSE:RBLX) insider Matthew Kaufman sold 13,325 shares of the firm’s stock in a transaction dated Monday, April 13th. The stock was sold at an average price of $57.94, for a total value of $772,050.50. Following the completion of the transaction, the insider owned 364,320 shares of the company’s stock, valued at approximately $21,108,700.80. This represents a 3.53% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Roblox Price Performance

NYSE RBLX traded up $1.54 during trading hours on Wednesday, hitting $59.84. The company had a trading volume of 7,313,618 shares, compared to its average volume of 11,454,154. Roblox Corporation has a 52 week low of $51.23 and a 52 week high of $150.59. The firm has a 50 day simple moving average of $61.15 and a 200 day simple moving average of $85.59. The company has a debt-to-equity ratio of 2.65, a quick ratio of 0.96 and a current ratio of 0.96. The firm has a market capitalization of $39.59 billion, a price-to-earnings ratio of -38.61 and a beta of 1.67.

Roblox (NYSE:RBLX) last issued its earnings results on Thursday, February 5th. The company reported ($0.45) EPS for the quarter, topping the consensus estimate of ($0.49) by $0.04. Roblox had a negative return on equity of 304.42% and a negative net margin of 21.78%.The business had revenue of $1.42 billion during the quarter, compared to the consensus estimate of $2.08 billion. During the same quarter last year, the company earned ($0.33) EPS. The firm’s revenue was up 122.6% compared to the same quarter last year. Equities research analysts expect that Roblox Corporation will post -1.49 earnings per share for the current year.

Hedge Funds Weigh In On Roblox

Large investors have recently modified their holdings of the company. WPG Advisers LLC boosted its holdings in Roblox by 17.8% during the 3rd quarter. WPG Advisers LLC now owns 555 shares of the company’s stock valued at $77,000 after acquiring an additional 84 shares during the period. Baird Financial Group Inc. boosted its holdings in Roblox by 1.4% during the 2nd quarter. Baird Financial Group Inc. now owns 7,294 shares of the company’s stock valued at $767,000 after acquiring an additional 102 shares during the period. Sunbelt Securities Inc. boosted its holdings in Roblox by 58.7% during the 3rd quarter. Sunbelt Securities Inc. now owns 284 shares of the company’s stock valued at $39,000 after acquiring an additional 105 shares during the period. Brown Brothers Harriman & Co. boosted its holdings in Roblox by 2.8% during the 3rd quarter. Brown Brothers Harriman & Co. now owns 4,042 shares of the company’s stock valued at $560,000 after acquiring an additional 110 shares during the period. Finally, QTR Family Wealth LLC boosted its holdings in Roblox by 2.6% during the 3rd quarter. QTR Family Wealth LLC now owns 4,446 shares of the company’s stock valued at $616,000 after acquiring an additional 111 shares during the period. 94.46% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts have weighed in on the company. Wells Fargo & Company lowered their price target on Roblox from $97.00 to $78.00 and set an “overweight” rating on the stock in a report on Monday, April 6th. DA Davidson assumed coverage on Roblox in a report on Wednesday, March 4th. They issued a “neutral” rating and a $65.00 price target on the stock. Piper Sandler reaffirmed an “overweight” rating and issued a $100.00 price target (down from $125.00) on shares of Roblox in a report on Friday, February 6th. Citigroup lowered their price target on Roblox from $105.00 to $90.00 and set a “buy” rating on the stock in a report on Monday, March 30th. Finally, Canaccord Genuity Group lowered their price target on Roblox from $160.00 to $140.00 and set a “buy” rating on the stock in a report on Tuesday, February 3rd. One investment analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating, seven have issued a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $116.76.

About Roblox

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.