Roblox Co. (NYSE:RBLX) Insider Mark Reinstra Sells 17,000 Shares

Roblox Co. (NYSE:RBLX) insider Mark Reinstra sold 17,000 shares of the business’s stock in a transaction on Monday, September 23rd. The shares were sold at an average price of $45.58, for a total transaction of $774,860.00. Following the completion of the transaction, the insider now directly owns 327,009 shares of the company’s stock, valued at approximately $14,905,070.22. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

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

• On Monday, August 19th, Mark Reinstra sold 17,000 shares of Roblox stock. The stock was sold at an average price of $40.47, for a total value of $687,990.00.
• On Thursday, August 15th, Mark Reinstra sold 12,000 shares of Roblox stock. The stock was sold at an average price of $40.00, for a total value of $480,000.00.

Roblox Stock Up 3.5 %

Shares of NYSE:RBLX traded up $1.58 during midday trading on Tuesday, hitting $47.11. The stock had a trading volume of 9,525,525 shares, compared to its average volume of 7,233,686. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 9.04. The business’s 50-day simple moving average is $41.92 and its 200-day simple moving average is $38.39. Roblox Co. has a 12 month low of $24.88 and a 12 month high of $47.49. The company has a market cap of $27.86 billion, a P/E ratio of -25.18 and a beta of 1.60.

Roblox (NYSE:RBLX) last released its quarterly earnings data on Thursday, August 1st. The company reported ($0.32) earnings per share for the quarter, topping the consensus estimate of ($0.39) by $0.07. Roblox had a negative net margin of 34.12% and a negative return on equity of 1,187.59%. The company had revenue of $893.50 million for the quarter, compared to analyst estimates of $897.88 million. During the same period in the previous year, the business earned ($0.46) EPS. Roblox’s revenue for the quarter was up 31.2% compared to the same quarter last year. On average, sell-side analysts forecast that Roblox Co. will post -1.59 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the company. Needham & Company LLC boosted their price objective on Roblox from $40.00 to $50.00 and gave the company a “buy” rating in a research report on Friday, August 2nd. Jefferies Financial Group assumed coverage on shares of Roblox in a research report on Thursday, July 11th. They set a “hold” rating and a $42.00 price objective for the company. Roth Mkm boosted their price objective on shares of Roblox from $35.00 to $42.00 and gave the company a “neutral” rating in a research report on Monday, July 29th. Wells Fargo & Company upped their target price on shares of Roblox from $41.00 to $43.00 and gave the stock an “overweight” rating in a research note on Monday, July 8th. Finally, The Goldman Sachs Group lifted their price target on Roblox from $38.00 to $45.00 and gave the company a “neutral” rating in a research note on Friday, August 2nd. Eight analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Roblox presently has an average rating of “Moderate Buy” and a consensus price target of $44.40.

Institutional Trading of Roblox

Hedge funds have recently made changes to their positions in the business. Swedbank AB lifted its stake in shares of Roblox by 0.5% during the 2nd quarter. Swedbank AB now owns 53,297 shares of the company’s stock worth $1,983,000 after buying an additional 285 shares during the last quarter. Thrive Wealth Management LLC lifted its position in Roblox by 4.3% during the second quarter. Thrive Wealth Management LLC now owns 7,358 shares of the company’s stock worth $274,000 after acquiring an additional 300 shares during the last quarter. Mystic Asset Management Inc. boosted its holdings in shares of Roblox by 4.0% during the first quarter. Mystic Asset Management Inc. now owns 8,550 shares of the company’s stock worth $326,000 after acquiring an additional 325 shares during the period. Center for Financial Planning Inc. grew its position in shares of Roblox by 2.3% in the second quarter. Center for Financial Planning Inc. now owns 17,722 shares of the company’s stock valued at $659,000 after purchasing an additional 400 shares during the last quarter. Finally, AlTi Global Inc. increased its stake in shares of Roblox by 8.1% during the second quarter. AlTi Global Inc. now owns 5,917 shares of the company’s stock worth $220,000 after purchasing an additional 445 shares during the period. 91.08% of the stock is owned by institutional investors and hedge funds.

About Roblox

Roblox Corporation develops and operates an online entertainment platform in the United States and internationally. It offers Roblox Studio, a free toolset that allows developers and creators to build, publish, and operate 3D experiences, and other content; Roblox Client, an application that allows users to explore 3D experience; and Roblox Cloud, which provides services and infrastructure that power the platform.