Roblox (NYSE:RBLX) Insider Matthew Kaufman Sells 14,904 Shares of Stock

Roblox Corporation (NYSE:RBLX) insider Matthew Kaufman sold 14,904 shares of the company’s stock in a transaction that occurred on Thursday, August 20th. The stock was sold at an average price of $37.96, for a total value of $565,755.84. Following the transaction, the insider directly owned 335,060 shares of the company’s stock, valued at approximately $12,718,877.60. This trade represents a 4.26% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Roblox Stock Up 0.9%

Shares of RBLX traded up $0.33 during mid-day trading on Monday, hitting $38.70. 8,331,997 shares of the company’s stock were exchanged, compared to its average volume of 11,929,390. The company has a debt-to-equity ratio of 7.82, a current ratio of 0.82 and a quick ratio of 0.82. Roblox Corporation has a 52 week low of $33.88 and a 52 week high of $142.00. The company has a market cap of $25.93 billion, a PE ratio of -27.06 and a beta of 1.46. The company has a 50-day simple moving average of $47.11 and a 200 day simple moving average of $52.57.

Roblox (NYSE:RBLX) last announced its quarterly earnings data on Thursday, July 30th. The company reported ($0.26) EPS for the quarter, topping 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 for the quarter, compared to analyst estimates of $1.60 billion. During the same quarter in the previous year, the firm posted ($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 forecast that Roblox Corporation will post -1.39 earnings per share for the current fiscal year.

Roblox announced that its Board of Directors has initiated a stock repurchase plan on Tuesday, May 19th that allows the company to repurchase $3.00 billion in outstanding shares. This repurchase authorization allows the company to repurchase up to 9.5% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s management believes its shares are undervalued.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on RBLX shares. Weiss Ratings restated a “sell (e+)” rating on shares of Roblox in a research note on Wednesday, June 24th. Benchmark downgraded Roblox from a “hold” rating to a “sell” rating and set a $33.00 target price on the stock. in a research report on Friday, July 31st. Seaport Research Partners lowered Roblox to a “neutral” rating in a report on Monday, June 29th. Oppenheimer reduced their price target on Roblox from $82.00 to $50.00 and set an “outperform” rating for the company in a research report on Tuesday, August 4th. Finally, Morgan Stanley decreased their price target on Roblox from $62.00 to $55.00 and set an “overweight” rating for the company in a research note on Friday, July 31st. One equities research 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 given a Sell rating to the company’s stock. According to MarketBeat, Roblox has a consensus rating of “Hold” and an average target price of $60.89.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of RBLX. NewEdge Advisors LLC increased its stake in shares of Roblox by 2.3% during the 1st quarter. NewEdge Advisors LLC now owns 10,236 shares of the company’s stock worth $597,000 after purchasing an additional 231 shares during the last quarter. Sivia Capital Partners LLC lifted its stake in Roblox by 70.2% in the 2nd quarter. Sivia Capital Partners LLC now owns 13,000 shares of the company’s stock valued at $1,368,000 after purchasing an additional 5,363 shares during the last quarter. CW Advisors LLC bought a new position in Roblox during the second quarter worth about $272,000. Baird Financial Group Inc. grew its holdings in Roblox by 1.4% during the second quarter. Baird Financial Group Inc. now owns 7,294 shares of the company’s stock worth $767,000 after purchasing an additional 102 shares during the period. Finally, WINTON GROUP Ltd bought a new position in Roblox during the second quarter worth about $438,000. Institutional investors own 94.46% of the company’s stock.

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.