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

Roblox Co. (NYSE:RBLX)’s stock price was down 4.1% during mid-day trading on Thursday after an insider sold shares in the company. The company traded as low as $49.29 and last traded at $49.40. Approximately 4,303,808 shares were traded during trading, a decline of 43% from the average daily volume of 7,581,167 shares. The stock had previously closed at $51.52.

Specifically, CEO David Baszucki sold 166,666 shares of the stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $50.71, for a total transaction of $8,451,632.86. Following the sale, the chief executive officer now directly owns 135,755 shares in the company, valued at $6,884,136.05. This represents a 55.11 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Michael Guthrie sold 40,000 shares of the firm’s stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $52.07, for a total transaction of $2,082,800.00. Following the completion of the sale, the chief financial officer now owns 352,844 shares of the company’s stock, valued at $18,372,587.08. The trade was a 10.18 % decrease in their position. The disclosure for this sale can be found here. In other news, Director Anthony P. Lee sold 25,000 shares of Roblox stock in a transaction on Friday, November 15th. The stock was sold at an average price of $52.34, for a total value of $1,308,500.00. Following the completion of the sale, the director now directly owns 5,731,695 shares of the company’s stock, valued at approximately $299,996,916.30. This trade represents a 0.43 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Analyst Upgrades and Downgrades

Several brokerages have commented on RBLX. Canaccord Genuity Group upped their target price on shares of Roblox from $50.00 to $60.00 and gave the company a “buy” rating in a research report on Friday, November 1st. Barclays boosted their price objective on shares of Roblox from $40.00 to $50.00 and gave the company an “equal weight” rating in a research report on Friday, November 1st. Wells Fargo & Company upped their price target on Roblox from $54.00 to $58.00 and gave the stock an “overweight” rating in a research report on Friday, November 1st. Roth Mkm lifted their target price on Roblox from $35.00 to $42.00 and gave the company a “neutral” rating in a research report on Monday, July 29th. Finally, Benchmark increased their price target on shares of Roblox from $44.00 to $60.00 and gave the company a “buy” rating in a research note on Friday, November 1st. Seven equities research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $55.30.

Roblox Trading Down 3.9 %

The company has a debt-to-equity ratio of 5.64, a current ratio of 0.98 and a quick ratio of 0.98. The stock has a 50-day simple moving average of $45.85 and a 200-day simple moving average of $40.82.

Roblox (NYSE:RBLX) last released its quarterly earnings data on Thursday, October 31st. The company reported ($0.37) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.39) by $0.02. Roblox had a negative return on equity of 986.36% and a negative net margin of 30.90%. The company had revenue of $919.00 million during the quarter, compared to the consensus estimate of $1.02 billion. During the same quarter in the prior year, the firm posted ($0.45) earnings per share. The firm’s revenue was up 9.5% compared to the same quarter last year. As a group, equities analysts anticipate that Roblox Co. will post -1.56 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Roblox

A number of hedge funds have recently bought and sold shares of the company. V Square Quantitative Management LLC acquired a new stake in Roblox in the 3rd quarter valued at $27,000. Frazier Financial Advisors LLC boosted its holdings in shares of Roblox by 20,800.0% in the 3rd quarter. Frazier Financial Advisors LLC now owns 627 shares of the company’s stock worth $28,000 after buying an additional 624 shares during the last quarter. PARK CIRCLE Co purchased a new position in Roblox in the second quarter valued at about $30,000. GAMMA Investing LLC grew its holdings in Roblox by 132.8% during the third quarter. GAMMA Investing LLC now owns 929 shares of the company’s stock valued at $41,000 after purchasing an additional 530 shares during the period. Finally, Gilliland Jeter Wealth Management LLC raised its stake in Roblox by 102.4% in the 2nd quarter. Gilliland Jeter Wealth Management LLC now owns 1,000 shares of the company’s stock valued at $37,000 after acquiring an additional 506 shares during the period. Institutional investors own 91.08% of the company’s stock.

Roblox Company Profile

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.