Mark Reinstra Sells 5,773 Shares of Roblox (NYSE:RBLX) Stock

Roblox Corporation (NYSE:RBLX) insider Mark Reinstra sold 5,773 shares of Roblox stock in a transaction on Tuesday, September 8th. The shares were sold at an average price of $44.80, for a total transaction of $258,630.40. Following the completion of the sale, the insider directly owned 392,291 shares in the company, valued at $17,574,636.80. This represents a 1.45% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed 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 Thursday, August 20th, Mark Reinstra sold 17,934 shares of Roblox stock. The stock was sold at an average price of $37.96, for a total transaction of $680,774.64.
• On Wednesday, August 19th, Mark Reinstra sold 6,250 shares of Roblox stock. The shares were sold at an average price of $40.00, for a total transaction of $250,000.00.
• 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 transaction of $258,718.08.

Roblox Stock Up 0.7%

Shares of NYSE RBLX opened at $44.84 on Friday. The firm has a market cap of $30.05 billion, a price-to-earnings ratio of -31.36 and a beta of 1.47. The company’s 50-day simple moving average is $44.56 and its 200-day simple moving average is $50.21. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 7.82. Roblox Corporation has a 52-week low of $33.88 and a 52-week high of $142.00.

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

Roblox announced that its board 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 repurchase up to 9.5% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s management believes its shares are undervalued.

Hedge Funds Weigh In On Roblox

A number of hedge funds have recently modified their holdings of the business. Baird Financial Group Inc. grew its position in Roblox by 1.4% during the 2nd quarter. Baird Financial Group Inc. now owns 7,294 shares of the company’s stock worth $767,000 after acquiring an additional 102 shares during the last quarter. Sunbelt Securities Inc. increased its holdings in 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 in the last quarter. Brown Brothers Harriman & Co. raised its position in Roblox by 2.8% in the third quarter. Brown Brothers Harriman & Co. now owns 4,042 shares of the company’s stock valued at $560,000 after purchasing an additional 110 shares during the last quarter. NewEdge Advisors LLC raised its position in Roblox by 1.3% in the second quarter. NewEdge Advisors LLC now owns 10,374 shares of the company’s stock valued at $1,091,000 after purchasing an additional 138 shares during the last quarter. Finally, L2 Asset Management LLC boosted its stake in shares of Roblox by 5.9% during the third quarter. L2 Asset Management LLC now owns 2,783 shares of the company’s stock valued at $386,000 after purchasing an additional 154 shares in the last quarter. 94.46% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts recently commented on RBLX shares. Deutsche Bank Aktiengesellschaft cut Roblox from a “buy” rating to a “hold” rating and dropped their price target for the stock from $56.00 to $38.00 in a research report on Friday, July 31st. Oppenheimer lowered their target price on shares of Roblox from $82.00 to $50.00 and set an “outperform” rating on the stock in a research note on Tuesday, August 4th. Piper Sandler reaffirmed a “neutral” rating and set a $47.00 target price (down from $50.00) on shares of Roblox in a report on Friday, July 31st. BMO Capital Markets cut shares of Roblox from an “outperform” rating to a “market perform” rating and set a $45.00 target price for the company. in a research report on Friday, July 31st. Finally, Moffett Nathanson restated a “neutral” rating and set a $40.00 price target on shares of Roblox in a research report on Monday, August 3rd. One equities research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, fifteen have given a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $59.21.

Roblox Company Profile

Roblox Corporation develops and operates Roblox, an online platform where users can create, share and play interactive experiences. The platform supports a broad range of user-generated content, including games, social spaces, educational activities and entertainment experiences, and is accessible across computers, mobile devices, consoles and other supported platforms.

Roblox provides development tools through Roblox Studio, while its virtual economy uses Robux, a digital currency that users can purchase and spend on virtual items, avatar customization and other platform content.