Roblox (NYSE:RBLX) Insider Mark Reinstra Sells 17,934 Shares

Roblox Corporation (NYSE:RBLX) insider Mark Reinstra sold 17,934 shares of Roblox stock in a transaction dated Thursday, August 20th. The stock was sold at an average price of $37.96, for a total transaction of $680,774.64. Following the transaction, the insider directly owned 398,064 shares of the company’s stock, valued at approximately $15,110,509.44. This represents a 4.31% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

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

• On Wednesday, August 19th, Mark Reinstra sold 6,250 shares of Roblox stock. The stock was 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.
• On Monday, June 8th, Mark Reinstra sold 5,978 shares of Roblox stock. The stock was sold at an average price of $41.71, for a total transaction of $249,342.38.

Roblox Trading Up 0.9%

Shares of NYSE:RBLX traded up $0.33 during trading hours on Monday, hitting $38.70. 8,331,997 shares of the company’s stock traded hands, compared to its average volume of 11,929,390. Roblox Corporation has a 1 year low of $33.88 and a 1 year high of $142.00. The business has a fifty day moving average price of $47.11 and a 200-day moving average price of $52.57. The firm has a market capitalization of $25.93 billion, a P/E ratio of -27.06 and a beta of 1.46. The company has a debt-to-equity ratio of 7.82, a current ratio of 0.82 and a quick ratio of 0.82.

Roblox (NYSE:RBLX) last issued its quarterly earnings results on Thursday, July 30th. The company reported ($0.26) earnings per share for the quarter, topping 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 firm had revenue of $1.47 billion for the quarter, compared to the consensus estimate of $1.60 billion. During the same period in the prior year, the business posted ($0.41) earnings per share. The company’s revenue for the quarter was up 8.3% on a year-over-year basis. Equities analysts expect that Roblox Corporation will post -1.39 earnings per share for the current year.

Roblox declared that its board has initiated a share buyback plan on Tuesday, May 19th that allows the company to buyback $3.00 billion in shares. This buyback authorization allows the company to buy up to 9.5% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s leadership believes its shares are undervalued.

Analyst Upgrades and Downgrades

RBLX has been the topic of a number of recent analyst reports. UBS Group set a $33.00 target price on Roblox in a research note on Friday, July 31st. Weiss Ratings restated a “sell (e+)” rating on shares of Roblox in a report on Wednesday, June 24th. HSBC cut shares of Roblox from a “buy” rating to a “hold” rating and set a $46.00 price target on the stock. in a report on Friday, May 1st. BMO Capital Markets lowered shares of Roblox from an “outperform” rating to a “market perform” rating and set a $45.00 price objective for the company. in a report on Friday, July 31st. Finally, B. Riley Financial lowered their price objective on shares of Roblox from $80.00 to $45.00 and set a “buy” rating for the company in a research report on Monday, August 3rd. One research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, fifteen have assigned a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $60.89.

Institutional Trading of Roblox

Hedge funds have recently added to or reduced their stakes in the business. Allspring Global Investments Holdings LLC raised its position 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 buying an additional 729,379 shares during the last quarter. PensionDanmark Pensionsforsikringsaktieselskab boosted its stake in shares of Roblox by 35.5% during the 2nd quarter. PensionDanmark Pensionsforsikringsaktieselskab now owns 130,130 shares of the company’s stock worth $7,076,000 after acquiring an additional 34,120 shares in the last quarter. Glynn Capital Management LLC purchased a new position in Roblox during the fourth quarter worth approximately $5,706,000. Militia Capital Management LLC purchased a new position in shares of Roblox during the 1st quarter valued at approximately $2,590,000. Finally, Assenagon Asset Management S.A. boosted its holdings in Roblox by 89.0% in the 2nd quarter. Assenagon Asset Management S.A. now owns 1,893,790 shares of the company’s stock worth $102,984,000 after buying an additional 891,634 shares during the last quarter. 94.46% of the stock is owned by hedge funds and other institutional investors.

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.