Roblox (NYSE:RBLX) Insider Mark Reinstra Sells 5,071 Shares of Company Stock

Roblox Corporation (NYSE:RBLX) insider Mark Reinstra sold 5,071 shares of the stock in a transaction dated Monday, November 9th. The stock was sold at an average price of $51.66, for a total transaction of $261,967.86. Following the sale, the insider directly owned 381,554 shares in the company, valued at approximately $19,711,079.64. This represents a 1.31% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• On Monday, October 5th, Mark Reinstra sold 5,666 shares of Roblox stock. The shares were sold at an average price of $44.20, for a total transaction of $250,437.20.
• On Tuesday, September 8th, Mark Reinstra sold 5,773 shares of Roblox stock. The stock was sold at an average price of $44.80, for a total transaction of $258,630.40.
• On Thursday, August 20th, Mark Reinstra sold 17,934 shares of Roblox stock. The stock was sold at an average price of $37.96, for a total transaction of $680,774.64.
• On Wednesday, August 19th, Mark Reinstra sold 6,250 shares of Roblox stock. The shares were sold at an average price of $40.00, for a total transaction of $250,000.00.

Roblox Price Performance

Shares of Roblox stock traded down $1.16 during midday trading on Thursday, reaching $51.45. The company had a trading volume of 5,166,313 shares, compared to its average volume of 11,693,144. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 7.82. The company has a market capitalization of $34.54 billion, a price-to-earnings ratio of -37.28 and a beta of 1.45. The stock has a fifty day simple moving average of $47.89 and a 200 day simple moving average of $51.43. Roblox Corporation has a 1-year low of $33.88 and a 1-year high of $104.21.

Roblox (NYSE:RBLX) last posted its quarterly earnings data on Thursday, October 29th. The company reported ($0.32) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.43) by $0.11. The firm had revenue of $1.57 billion for the quarter, compared to the consensus estimate of $1.63 billion. Roblox had a negative return on equity of 417.56% and a negative net margin of 16.48%. The business’s revenue for the quarter was up 15.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.37) EPS. As a group, equities research analysts forecast that Roblox Corporation will post -1.36 earnings per share for the current year.

Institutional Investors Weigh In On Roblox

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Assenagon Asset Management S.A. increased its stake in shares of Roblox by 216.4% in the 3rd quarter. Assenagon Asset Management S.A. now owns 5,992,101 shares of the company’s stock valued at $253,885,000 after acquiring an additional 4,098,311 shares during the last quarter. Allspring Global Investments Holdings LLC boosted its stake in Roblox by 379.8% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 921,424 shares of the company’s stock worth $53,102,000 after acquiring an additional 729,379 shares during the last quarter. Readystate Asset Management LP grew 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 valued at $20,512,000 after purchasing an additional 329,201 shares during the period. PensionDanmark Pensionsforsikringsaktieselskab increased its stake in Roblox by 35.5% in the second quarter. PensionDanmark Pensionsforsikringsaktieselskab now owns 130,130 shares of the company’s stock valued at $7,076,000 after purchasing an additional 34,120 shares in the last quarter. Finally, Odyssean LLC increased its stake in Roblox by 344.4% in the second quarter. Odyssean LLC now owns 40,038 shares of the company’s stock valued at $2,177,000 after purchasing an additional 31,029 shares in the last quarter. Institutional investors own 94.46% of the company’s stock.

Wall Street Analysts Forecast Growth

RBLX has been the topic of several recent research reports. Wedbush decreased their price target on Roblox from $55.00 to $52.00 and set a “neutral” rating on the stock in a report on Friday, October 30th. Wolfe Research upgraded shares of Roblox from a “hold” rating to a “strong-buy” rating in a research report on Friday, October 30th. Canaccord Genuity Group set a $58.00 target price on shares of Roblox in a research note on Friday, July 31st. Jefferies Financial Group lowered their price target on shares of Roblox from $38.00 to $35.00 and set an “underperform” rating for the company in a research report on Tuesday, November 3rd. Finally, Needham & Company LLC reissued a “buy” rating and set a $55.00 price target on shares of Roblox in a research note on Friday, October 30th. Two investment analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating, twelve have assigned a Hold rating and five have assigned a Sell rating to the company’s stock. According to MarketBeat.com, Roblox has an average rating of “Hold” and an average target price of $53.04.

About Roblox

Roblox Corporation operates an online platform where users can create, share and play interactive 3D experiences. The company provides Roblox Studio, a set of tools that creators use to build games and other virtual spaces, as well as services for users to connect and communicate within those experiences. Roblox supports a creator economy through Robux, its virtual currency, which users can use for digital items and purchases in experiences. Eligible creators can earn revenue from their work through purchases and other platform programs.