Roblox (NYSE:RBLX) CFO Sells $664,641.64 in Stock

Roblox Corporation (NYSE:RBLX) CFO Naveen Chopra sold 17,509 shares of the company’s stock in a transaction dated Thursday, August 20th. The shares were sold at an average price of $37.96, for a total transaction of $664,641.64. Following the transaction, the chief financial officer owned 363,249 shares in the company, valued at $13,788,932.04. This represents a 4.60% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Roblox Price Performance

RBLX stock opened at $37.53 on Thursday. The company has a debt-to-equity ratio of 7.82, a current ratio of 0.82 and a quick ratio of 0.82. The company’s 50-day moving average is $46.56 and its 200-day moving average is $52.05. The stock has a market capitalization of $25.14 billion, a PE ratio of -26.24 and a beta of 1.46. Roblox Corporation has a 1 year low of $33.88 and a 1 year high of $142.00.

Roblox (NYSE:RBLX) last issued its earnings results on Thursday, July 30th. The company reported ($0.26) EPS for the quarter, beating analysts’ consensus estimates of ($0.34) by $0.08. Roblox had a negative return on equity of 292.85% and a negative net margin of 17.60%.The business had revenue of $1.47 billion during the quarter, compared to analyst estimates of $1.60 billion. During the same period in the previous year, the company posted ($0.41) EPS. The firm’s revenue was up 8.3% compared to the same quarter last year. Equities research analysts expect that Roblox Corporation will post -1.39 EPS for the current fiscal year.

Roblox declared that its Board of Directors has initiated a stock buyback plan on Tuesday, May 19th that authorizes the company to buyback $3.00 billion in outstanding shares. This buyback authorization authorizes the company to reacquire up to 9.5% of its shares through open market purchases. Shares buyback plans are typically an indication that the company’s leadership believes its shares are undervalued.

Analyst Ratings Changes

Several equities analysts have weighed in on RBLX shares. Barclays dropped their price objective on Roblox from $60.00 to $47.00 and set an “equal weight” rating on the stock in a research note on Monday, August 3rd. The Goldman Sachs Group cut their price target on shares of Roblox from $125.00 to $65.00 and set a “buy” rating on the stock in a report on Friday, May 1st. Moffett Nathanson reissued a “neutral” rating and set a $40.00 target price on shares of Roblox in a research report on Monday, August 3rd. Wedbush lowered Roblox from an “outperform” rating to a “neutral” rating and reduced their target price for the company from $65.00 to $40.00 in a report on Friday, July 31st. Finally, Bank of America downgraded Roblox from a “buy” rating to a “neutral” rating and set a $48.00 price target for the company. in a research report on Friday, May 1st. One research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, fifteen have given a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $60.89.

Institutional Trading of Roblox

A number of large investors have recently added to or reduced their stakes in RBLX. Hanson & Doremus Investment Management bought a new stake in Roblox in the first quarter worth about $25,000. Fideuram Asset Management Ireland dac bought a new position in shares of Roblox during the 4th quarter valued at approximately $27,000. Basecamp Wealth Advisors LLC grew its position in shares of Roblox by 98.8% during the 1st quarter. Basecamp Wealth Advisors LLC now owns 507 shares of the company’s stock valued at $29,000 after acquiring an additional 252 shares during the period. GW&K Investment Management LLC increased its stake in shares of Roblox by 76.3% during the 4th quarter. GW&K Investment Management LLC now owns 372 shares of the company’s stock worth $30,000 after purchasing an additional 161 shares during the last quarter. Finally, Root Financial Partners LLC increased its stake in shares of Roblox by 100.7% during the 1st quarter. Root Financial Partners LLC now owns 564 shares of the company’s stock worth $32,000 after purchasing an additional 283 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.