Roblox (NYSE:RBLX) Director Sells $22,980.18 in Stock

Roblox Corporation (NYSE:RBLX) Director Andrea Wong sold 562 shares of the business’s stock in a transaction dated Monday, August 31st. The stock was sold at an average price of $40.89, for a total value of $22,980.18. Following the transaction, the director owned 45,265 shares of the company’s stock, valued at approximately $1,850,885.85. The trade was a 1.23% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Roblox Stock Performance

NYSE:RBLX opened at $41.32 on Friday. The stock has a market cap of $27.68 billion, a P/E ratio of -28.90 and a beta of 1.47. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 7.82. The business’s 50-day moving average price is $45.55 and its two-hundred day moving average price is $50.88. Roblox Corporation has a twelve month low of $33.88 and a twelve month high of $142.00.

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

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

Analysts Set New Price Targets

Several analysts have recently weighed in on the stock. Wells Fargo & Company set a $46.00 price objective on shares of Roblox in a research report on Monday, August 3rd. Needham & Company LLC cut their target price on shares of Roblox from $60.00 to $50.00 and set a “buy” rating for the company in a research report on Friday, July 31st. Deutsche Bank Aktiengesellschaft cut Roblox from a “buy” rating to a “hold” rating and reduced their target price for the company from $56.00 to $38.00 in a research note on Friday, July 31st. Benchmark downgraded Roblox from a “hold” rating to a “sell” rating and set a $33.00 price target on the stock. in a research report on Friday, July 31st. Finally, Seaport Research Partners lowered Roblox to a “neutral” rating in a research note on Monday, June 29th. One analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, fifteen have given a Hold rating and three have given a Sell rating to the company’s stock. According to MarketBeat.com, Roblox presently has a consensus rating of “Hold” and a consensus price target of $60.89.

Institutional Trading of Roblox

A number of institutional investors have recently made changes to their positions in RBLX. California State Teachers Retirement System increased its stake in shares of Roblox by 5,370.1% in the second quarter. California State Teachers Retirement System now owns 49,445,613 shares of the company’s stock worth $2,688,852,000 after buying an additional 48,541,681 shares during the period. Capital International Investors boosted its position in Roblox by 7.3% during the 4th quarter. Capital International Investors now owns 31,953,301 shares of the company’s stock valued at $2,589,282,000 after buying an additional 2,184,439 shares during the period. Morgan Stanley boosted its position in Roblox by 8.1% during the 4th quarter. Morgan Stanley now owns 20,728,914 shares of the company’s stock valued at $1,679,664,000 after buying an additional 1,555,549 shares during the period. State Street Corp boosted its position in Roblox by 3.3% during the 4th quarter. State Street Corp now owns 13,812,362 shares of the company’s stock valued at $1,119,216,000 after buying an additional 442,518 shares during the period. Finally, Geode Capital Management LLC grew its holdings in Roblox by 4.7% in the 4th quarter. Geode Capital Management LLC now owns 12,220,045 shares of the company’s stock worth $988,002,000 after acquiring an additional 547,103 shares during the last quarter. Hedge funds and other institutional investors own 94.46% of the company’s stock.

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.