Gregory Baszucki Sells 16,666 Shares of Roblox (NYSE:RBLX) Stock

Roblox Corporation (NYSE:RBLX) Director Gregory Baszucki sold 16,666 shares of the firm’s stock in a transaction dated Wednesday, July 1st. The shares were sold at an average price of $57.69, for a total value of $961,461.54. Following the sale, the director owned 1,277,835 shares in the company, valued at approximately $73,718,301.15. The trade was a 1.29% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Gregory Baszucki also recently made the following trade(s):

• On Tuesday, May 5th, Gregory Baszucki sold 16,666 shares of Roblox stock. The stock was sold at an average price of $44.97, for a total value of $749,470.02.

Roblox Trading Down 0.2%

RBLX opened at $55.29 on Friday. The firm has a market capitalization of $37.13 billion, a P/E ratio of -34.99 and a beta of 1.41. The firm’s 50 day moving average is $47.64 and its 200-day moving average is $61.03. Roblox Corporation has a 52-week low of $40.15 and a 52-week high of $150.59. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 2.45.

Roblox (NYSE:RBLX) last announced its earnings results on Thursday, April 30th. The company reported ($0.35) earnings per share for the quarter, beating the consensus estimate of ($0.41) by $0.06. The business had revenue of $1.44 billion during the quarter, compared to the consensus estimate of $1.74 billion. Roblox had a negative net margin of 20.69% and a negative return on equity of 277.69%. The business’s quarterly revenue was up 43.4% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.32) earnings per share. Analysts expect that Roblox Corporation will post -1.4 EPS for the current fiscal year.

Roblox declared that its Board of Directors has approved a share repurchase program on Tuesday, May 19th that permits the company to repurchase $3.00 billion in outstanding shares. This repurchase authorization permits the company to buy up to 9.5% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s board of directors believes its stock is undervalued.

Trending Headlines about Roblox

Here are the key news stories impacting Roblox this week:

• Negative Sentiment: Roblox is facing a securities class action over claims that its Q1 report failed to fully account for the impact of age-check changes on user growth, keeping legal and reputational risk in focus. Roblox Corporation Faces Securities Class Action Amid Surprise Age Verification Impact
• Negative Sentiment: Multiple law firms are reminding investors about the lead-plaintiff deadline, reinforcing headline risk and suggesting the litigation story is still gathering momentum. RBLX Shareholder Action Reminder
• Negative Sentiment: Insider selling by Director Gregory Baszucki added to cautious sentiment, even though the sale was made under a pre-arranged 10b5-1 trading plan. Insider Selling: Roblox Director Sells 16,666 Shares
• Neutral Sentiment: Roblox also partnered with EDO to add TV-style ad benchmarks to its platform, a longer-term monetization development that could help advertising demand but is not an immediate catalyst. Roblox Partners With EDO To Bring TV Style Ad Benchmarks In Game

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on RBLX. Oppenheimer began coverage on Roblox in a research report on Friday, May 1st. They set an “outperform” rating on the stock. Jefferies Financial Group lowered Roblox from a “hold” rating to a “hold” rating in a research note on Friday, May 1st. Cantor Fitzgerald initiated coverage on Roblox in a report on Monday. They set an “overweight” rating on the stock. Seaport Research Partners lowered Roblox to a “neutral” rating in a research report on Monday. Finally, Canaccord Genuity Group reduced their target price on Roblox from $140.00 to $80.00 and set a “buy” rating for the company in a research note on Friday, May 1st. Two investment analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, eleven have given a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, Roblox currently has a consensus rating of “Moderate Buy” and a consensus price target of $85.48.

Hedge Funds Weigh In On Roblox

A number of hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. raised its stake in Roblox by 1.6% during the fourth quarter. Vanguard Group Inc. now owns 63,458,784 shares of the company’s stock valued at $5,142,065,000 after buying an additional 1,020,786 shares in the last quarter. Capital International Investors grew its position in shares of Roblox by 7.3% in the 4th quarter. Capital International Investors now owns 31,953,301 shares of the company’s stock worth $2,589,282,000 after acquiring an additional 2,184,439 shares in the last quarter. Morgan Stanley increased its holdings in shares of Roblox by 8.1% in the 4th quarter. Morgan Stanley now owns 20,728,914 shares of the company’s stock valued at $1,679,664,000 after acquiring an additional 1,555,549 shares during the last quarter. State Street Corp increased its holdings in shares of Roblox by 3.3% in the 4th quarter. State Street Corp now owns 13,812,362 shares of the company’s stock valued at $1,119,216,000 after acquiring an additional 442,518 shares during the last quarter. Finally, Geode Capital Management LLC raised its position in shares of Roblox by 4.7% during the 4th quarter. Geode Capital Management LLC now owns 12,220,045 shares of the company’s stock valued at $988,002,000 after acquiring an additional 547,103 shares in the last quarter. 94.46% of the stock is currently owned by institutional investors and hedge funds.

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.