Insider Selling: Roblox (NYSE:RBLX) Director Sells $674,473.02 in Stock

Roblox Corporation (NYSE:RBLX) Director Gregory Baszucki sold 16,666 shares of the business’s stock in a transaction that occurred on Tuesday, September 1st. The shares were sold at an average price of $40.47, for a total value of $674,473.02. Following the completion of the transaction, the director directly owned 1,261,169 shares of the company’s stock, valued at $51,039,509.43. The trade was a 1.30% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Gregory Baszucki also recently made the following trade(s):

• On Tuesday, August 4th, Gregory Baszucki sold 16,666 shares of Roblox stock. The stock was sold at an average price of $37.46, for a total transaction of $624,308.36.
• On Wednesday, July 1st, Gregory Baszucki sold 16,666 shares of Roblox stock. The shares were sold at an average price of $57.69, for a total transaction of $961,461.54.

Roblox Stock Performance

Shares of NYSE RBLX opened at $43.21 on Friday. The company has a market capitalization of $28.95 billion, a PE ratio of -30.22 and a beta of 1.47. The company has a debt-to-equity ratio of 7.82, a quick ratio of 0.82 and a current ratio of 0.82. The company’s fifty day moving average price is $45.46 and its 200 day moving average price is $50.83. Roblox Corporation has a 1 year low of $33.88 and a 1 year 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 company had revenue of $1.47 billion during the quarter, compared to analysts’ expectations of $1.60 billion. During the same quarter in the previous year, the company earned ($0.41) earnings per share. The firm’s revenue for the quarter was up 8.3% on a year-over-year basis. On average, research analysts predict that Roblox Corporation will post -1.39 earnings per share for the current year.

Roblox announced that its Board of Directors has approved a stock buyback program on Tuesday, May 19th that permits the company to buyback $3.00 billion in shares. This buyback authorization permits the company to purchase up to 9.5% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s board believes its shares are undervalued.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Sunbelt Securities Inc. lifted its holdings 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 acquiring an additional 105 shares during the last quarter. Horizon Investments LLC raised its position in Roblox by 2,636.4% in the third quarter. Horizon Investments LLC now owns 301 shares of the company’s stock valued at $42,000 after purchasing an additional 290 shares during the period. Fideuram Asset Management Ireland dac acquired a new position in Roblox during the fourth quarter worth $27,000. GW&K Investment Management LLC lifted its stake in Roblox by 76.3% during the fourth quarter. GW&K Investment Management LLC now owns 372 shares of the company’s stock worth $30,000 after purchasing an additional 161 shares in the last quarter. Finally, Zions Bancorporation National Association UT purchased a new position in shares of Roblox during the fourth quarter worth $32,000. Institutional investors and hedge funds own 94.46% of the company’s stock.

Analyst Ratings Changes

Several analysts have issued reports on the company. Morgan Stanley dropped their target price on Roblox from $62.00 to $55.00 and set an “overweight” rating for the company in a report on Friday, July 31st. Wall Street Zen raised shares of Roblox from a “sell” rating to a “hold” rating in a research report on Saturday, July 18th. Seaport Research Partners cut shares of Roblox to a “neutral” rating in a research report on Monday, June 29th. TD Cowen reduced their target price on shares of Roblox from $49.00 to $40.00 and set a “hold” rating on the stock in a research note on Friday, July 31st. Finally, B. Riley Financial decreased their target price on shares of Roblox from $80.00 to $45.00 and set a “buy” rating on the stock in a report on Monday, August 3rd. One investment analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, fifteen have issued a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat.com, Roblox has a consensus rating of “Hold” and an average target price of $60.89.

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.