Roblox Corporation (NYSE:RBLX – Get Free Report) insider Mark Reinstra sold 5,460 shares of the business’s stock in a transaction on Thursday, May 21st. The stock was sold at an average price of $46.40, for a total value of $253,344.00. Following the completion of the sale, the insider directly owned 432,738 shares in the company, valued at $20,079,043.20. This trade represents a 1.25% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 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 Wednesday, May 20th, Mark Reinstra sold 17,275 shares of Roblox stock. The stock was sold at an average price of $45.28, for a total value of $782,212.00.
- 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 Stock Up 4.5%
Shares of RBLX stock traded up $2.09 during mid-day trading on Friday, hitting $48.23. The company’s stock had a trading volume of 10,126,707 shares, compared to its average volume of 11,949,403. Roblox Corporation has a 52-week low of $40.15 and a 52-week high of $150.59. The business has a 50-day moving average price of $53.81 and a 200 day moving average price of $71.69. The company has a debt-to-equity ratio of 2.45, a quick ratio of 0.89 and a current ratio of 0.89. The stock has a market cap of $32.39 billion, a price-to-earnings ratio of -30.53 and a beta of 1.50.
Roblox declared that its board has authorized a stock buyback program on Tuesday, May 19th that allows the company to repurchase $3.00 billion in shares. This repurchase authorization allows the company to buy up to 9.5% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s board of directors believes its shares are undervalued.
Institutional Trading of Roblox
Hedge funds have recently bought and sold shares of the company. Pilgrim Partners Asia Pte Ltd purchased a new stake in Roblox during the third quarter valued at $26,000. Whittier Trust Co. of Nevada Inc. purchased a new stake in Roblox during the third quarter valued at $37,000. Root Financial Partners LLC purchased a new stake in Roblox in the third quarter worth about $38,000. Sunbelt Securities Inc. increased its position in Roblox by 58.7% in the third quarter. Sunbelt Securities Inc. now owns 284 shares of the company’s stock worth $39,000 after buying an additional 105 shares in the last quarter. Finally, Horizon Investments LLC raised its stake in shares of Roblox by 2,636.4% in the third quarter. Horizon Investments LLC now owns 301 shares of the company’s stock worth $42,000 after buying an additional 290 shares during the period. Hedge funds and other institutional investors own 94.46% of the company’s stock.
Wall Street Analysts Forecast Growth
Several research analysts have recently weighed in on RBLX shares. UBS Group decreased their price target on Roblox from $74.00 to $49.00 and set a “neutral” rating for the company in a research note on Friday, May 1st. Benchmark reiterated a “hold” rating on shares of Roblox in a research report on Monday, February 2nd. Wedbush cut Roblox from a “hold” rating to a “neutral” rating in a research report on Friday, May 1st. Wall Street Zen upgraded Roblox from a “sell” rating to a “hold” rating in a research report on Saturday, March 28th. Finally, TD Cowen upgraded Roblox from a “sell” rating to a “hold” rating and reduced their price objective for the company from $54.00 to $49.00 in a research report on Friday, May 1st. One equities research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, fourteen have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $87.07.
Read Our Latest Stock Analysis on Roblox
Roblox Company Profile
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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