Roblox (NYSE:RBLX) Trading Down 4.1% on Insider Selling

Roblox Corporation (NYSE:RBLX) dropped 4.1% during mid-day trading on Monday after an insider sold shares in the company. The company traded as low as $56.97 and last traded at $57.6650. Approximately 1,739,777 shares were traded during trading, a decline of 85% from the average daily volume of 11,675,819 shares. The stock had previously closed at $60.11.

Specifically, Director Gregory Baszucki sold 16,666 shares of the company’s stock in a transaction dated Wednesday, April 1st. The shares were sold at an average price of $57.95, for a total value of $965,794.70. Following the transaction, the director owned 1,302,834 shares in the company, valued at $75,499,230.30. The trade was a 1.26% decrease in their position. 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.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on RBLX. TD Cowen reiterated a “sell” rating on shares of Roblox in a research note on Tuesday, January 27th. Morgan Stanley dropped their price target on shares of Roblox from $155.00 to $140.00 and set an “overweight” rating on the stock in a research note on Friday, February 6th. UBS Group set a $74.00 price target on shares of Roblox in a research note on Friday, February 6th. Wolfe Research set a $100.00 price target on shares of Roblox in a research note on Monday, January 5th. Finally, Citigroup dropped their price target on shares of Roblox from $105.00 to $90.00 and set a “buy” rating on the stock in a research note on Monday, March 30th. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, seven have assigned a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $116.76.

Roblox Stock Down 5.0%

The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 2.65. The firm has a market cap of $37.79 billion, a P/E ratio of -36.85 and a beta of 1.67. The company’s 50 day simple moving average is $62.78 and its 200-day simple moving average is $88.86.

Roblox (NYSE:RBLX) last posted its earnings results on Thursday, February 5th. The company reported ($0.45) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.49) by $0.04. The business had revenue of $1.42 billion for the quarter, compared to analysts’ expectations of $2.08 billion. Roblox had a negative net margin of 21.78% and a negative return on equity of 304.42%. The business’s revenue for the quarter was up 122.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.33) EPS. Research analysts forecast that Roblox Corporation will post -1.49 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Roblox

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Pilgrim Partners Asia Pte Ltd bought a new position in Roblox during the 3rd quarter valued at about $26,000. Whittier Trust Co. of Nevada Inc. bought a new position in Roblox during the 3rd quarter valued at about $37,000. Total Investment Management Inc. bought a new position in shares of Roblox in the 2nd quarter worth approximately $29,000. Root Financial Partners LLC bought a new position in shares of Roblox in the 3rd quarter worth approximately $38,000. Finally, Sunbelt Securities Inc. lifted its stake in shares of Roblox by 58.7% in the 3rd quarter. Sunbelt Securities Inc. now owns 284 shares of the company’s stock worth $39,000 after purchasing an additional 105 shares during the period. 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.