Mark Reinstra Sells 6,250 Shares of Roblox (NYSE:RBLX) Stock

Roblox Corporation (NYSE:RBLX) insider Mark Reinstra sold 6,250 shares of the firm’s stock in a transaction on Wednesday, August 19th. The stock was sold at an average price of $40.00, for a total value of $250,000.00. Following the completion of the sale, the insider directly owned 415,998 shares of the company’s stock, valued at $16,639,920. This represents a 1.48% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through 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 Monday, July 6th, Mark Reinstra sold 4,512 shares of Roblox stock. The shares were sold at an average price of $57.34, for a total value 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 value of $249,342.38.

Roblox Price Performance

Shares of NYSE:RBLX opened at $38.49 on Friday. The firm has a market capitalization of $25.79 billion, a PE ratio of -26.92 and a beta of 1.46. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 7.82. The company has a 50-day moving average price of $47.11 and a two-hundred day moving average price of $52.67. Roblox Corporation has a twelve month low of $33.88 and a twelve month high of $142.00.

Roblox (NYSE:RBLX) last released its quarterly earnings data on Thursday, July 30th. The company reported ($0.26) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.34) by $0.08. Roblox had a negative net margin of 17.60% and a negative return on equity of 292.85%. The business had revenue of $1.47 billion during the quarter, compared to analyst estimates of $1.60 billion. During the same period in the previous year, the business earned ($0.41) EPS. Roblox’s revenue was up 8.3% compared to the same quarter last year. Equities analysts forecast that Roblox Corporation will post -1.39 EPS for the current year.

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

Wall Street Analyst Weigh In

RBLX has been the topic of a number of recent research reports. UBS Group set a $33.00 price objective on Roblox in a report on Friday, July 31st. Raymond James Financial initiated coverage on Roblox in a report on Monday, June 29th. They set a “market perform” rating for the company. TD Cowen decreased their price target on Roblox from $49.00 to $40.00 and set a “hold” rating on the stock in a research report on Friday, July 31st. HSBC downgraded 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. Finally, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Roblox in a research note on Wednesday, June 24th. One investment analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, fifteen have assigned a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $60.89.

Institutional Trading of Roblox

Hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. lifted its stake in Roblox by 1.6% during the fourth quarter. Vanguard Group Inc. now owns 63,458,784 shares of the company’s stock worth $5,142,065,000 after purchasing an additional 1,020,786 shares during the last quarter. Capital International Investors boosted its stake in Roblox by 7.3% in the fourth quarter. Capital International Investors now owns 31,953,301 shares of the company’s stock worth $2,589,282,000 after buying an additional 2,184,439 shares in the last quarter. Morgan Stanley boosted its stake in Roblox by 8.1% in the fourth quarter. Morgan Stanley now owns 20,728,914 shares of the company’s stock worth $1,679,664,000 after buying an additional 1,555,549 shares in the last quarter. State Street Corp grew its position in Roblox by 3.3% during the fourth quarter. State Street Corp now owns 13,812,362 shares of the company’s stock valued at $1,119,216,000 after acquiring an additional 442,518 shares during the last quarter. Finally, Geode Capital Management LLC grew its position in 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 acquiring an additional 547,103 shares during the last quarter. 94.46% of the stock is owned by institutional investors.

About Roblox

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.