Roblox Corporation (NYSE:RBLX – Get Free Report) insider Mark Reinstra sold 17,275 shares of the firm’s stock in a transaction on Wednesday, May 20th. The stock was sold at an average price of $45.28, for a total value of $782,212.00. Following the sale, the insider directly owned 438,198 shares in the company, valued at $19,841,605.44. The trade was a 3.79% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards.
Mark Reinstra also recently made the following trade(s):
- On Thursday, May 21st, Mark Reinstra sold 5,460 shares of Roblox stock. The stock was sold at an average price of $46.40, for a total value of $253,344.00.
- On Monday, April 13th, Mark Reinstra sold 18,653 shares of Roblox stock. The stock was sold at an average price of $57.94, for a total value of $1,080,754.82.
Roblox Trading Up 4.5%
Roblox stock traded up $2.09 during mid-day trading on Friday, hitting $48.23. 10,126,707 shares of the company’s stock were exchanged, compared to its average volume of 11,949,403. The firm has a market capitalization of $32.39 billion, a P/E ratio of -30.53 and a beta of 1.50. Roblox Corporation has a fifty-two week low of $40.15 and a fifty-two week high of $150.59. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 2.45. The company’s 50 day simple moving average is $53.81 and its 200-day simple moving average is $71.69.
Roblox announced that its board has initiated a stock buyback plan on Tuesday, May 19th that permits the company to repurchase $3.00 billion in outstanding shares. This repurchase authorization permits the company to reacquire up to 9.5% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s board of directors believes its stock is undervalued.
Institutional Trading of Roblox
Hedge funds and other institutional investors have recently modified their holdings of the stock. Reyes Financial Architecture Inc. grew its holdings in Roblox by 164.4% during the fourth quarter. Reyes Financial Architecture Inc. now owns 312 shares of the company’s stock worth $25,000 after purchasing an additional 194 shares during the period. Hanson & Doremus Investment Management bought a new position in Roblox during the first quarter worth about $25,000. Pilgrim Partners Asia Pte Ltd bought a new position in Roblox during the third quarter worth about $26,000. Fideuram Asset Management Ireland dac bought a new position in Roblox during the fourth quarter worth about $27,000. Finally, GW&K Investment Management LLC grew its holdings 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 during the period. Institutional investors and hedge funds own 94.46% of the company’s stock.
Wall Street Analyst Weigh In
Several research firms have issued reports on RBLX. Morgan Stanley reissued an “overweight” rating and issued a $62.00 price target on shares of Roblox in a research note on Friday, May 1st. Needham & Company LLC began coverage on Roblox in a research note on Friday, May 1st. They issued a “buy” rating and a $60.00 price target on the stock. Weiss Ratings reissued a “sell (e+)” rating on shares of Roblox in a research note on Friday, March 27th. The Goldman Sachs Group dropped their price target on Roblox from $125.00 to $65.00 and set a “buy” rating on the stock in a research note on Friday, May 1st. Finally, Wedbush downgraded Roblox from a “hold” rating to a “neutral” rating in a research note on Friday, May 1st. One investment analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, fourteen have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $87.07.
Read Our Latest Research Report on RBLX
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.
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