Roblox (NYSE:RBLX) Insider Mark Reinstra Sells 5,773 Shares of Stock

Roblox Corporation (NYSE:RBLX) insider Mark Reinstra sold 5,773 shares of Roblox stock in a transaction dated Tuesday, September 8th. The stock was sold at an average price of $44.80, for a total transaction of $258,630.40. Following the completion of the sale, the insider directly owned 392,291 shares in the company, valued at approximately $17,574,636.80. This represents a 1.45% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• On Thursday, August 20th, Mark Reinstra sold 17,934 shares of Roblox stock. The shares were 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.
• On Monday, July 6th, Mark Reinstra sold 4,512 shares of Roblox stock. The stock was sold at an average price of $57.34, for a total transaction of $258,718.08.

Roblox Trading Down 0.6%

NYSE:RBLX opened at $44.56 on Thursday. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 7.82. The stock has a market capitalization of $29.86 billion, a PE ratio of -31.16 and a beta of 1.47. The firm’s 50 day moving average is $44.77 and its 200 day moving average is $50.33. Roblox Corporation has a 12 month low of $33.88 and a 12 month high of $142.00.

Roblox (NYSE:RBLX) last posted its quarterly earnings data on Thursday, July 30th. The company reported ($0.26) EPS for the quarter, beating the consensus estimate 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 for the quarter, compared to the consensus estimate of $1.60 billion. During the same quarter in the prior year, the business earned ($0.41) earnings per share. Roblox’s revenue for the quarter was up 8.3% on a year-over-year basis. Sell-side analysts expect that Roblox Corporation will post -1.39 earnings per share for the current year.

Roblox announced that its board has initiated a share buyback program on Tuesday, May 19th that permits the company to repurchase $3.00 billion in shares. This repurchase authorization permits the company to purchase up to 9.5% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company’s board of directors believes its stock is undervalued.

Institutional Investors Weigh In On Roblox

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

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the company. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Roblox in a research report on Wednesday, June 24th. Canaccord Genuity Group set a $58.00 price objective on Roblox in a report on Friday, July 31st. B. Riley Financial lowered their price objective on Roblox from $80.00 to $45.00 and set a “buy” rating on the stock in a research note on Monday, August 3rd. Wolfe Research downgraded shares of Roblox from an “outperform” rating to a “hold” rating in a report on Friday, July 31st. Finally, Benchmark lowered shares of Roblox from a “hold” rating to a “sell” rating and set a $33.00 target price for the company. in a research report on Friday, July 31st. One equities research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, fifteen have issued a Hold rating and three have issued a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $59.21.

About Roblox

Roblox Corporation develops and operates Roblox, an online platform where users can create, share and play interactive experiences. The platform supports a broad range of user-generated content, including games, social spaces, educational activities and entertainment experiences, and is accessible across computers, mobile devices, consoles and other supported platforms.

Roblox provides development tools through Roblox Studio, while its virtual economy uses Robux, a digital currency that users can purchase and spend on virtual items, avatar customization and other platform content.