Roblox Corporation (NYSE:RBLX – Get Free Report) insider Mark Reinstra sold 17,934 shares of the stock in a transaction on Thursday, August 20th. The stock was sold at an average price of $37.96, for a total value of $680,774.64. Following the completion of the sale, the insider owned 398,064 shares in the company, valued at approximately $15,110,509.44. The trade was a 4.31% decrease in their position. The transaction was disclosed in a document filed 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.
Mark Reinstra also recently made the following trade(s):
- 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.
- On Monday, June 8th, Mark Reinstra sold 5,978 shares of Roblox stock. The stock was sold at an average price of $41.71, for a total transaction of $249,342.38.
Roblox Trading Down 4.1%
Shares of RBLX opened at $37.53 on Thursday. The company has a debt-to-equity ratio of 7.82, a current ratio of 0.82 and a quick ratio of 0.82. The firm has a market capitalization of $25.14 billion, a price-to-earnings ratio of -26.24 and a beta of 1.46. The company has a 50-day moving average of $46.56 and a 200 day moving average of $52.05. Roblox Corporation has a 1-year low of $33.88 and a 1-year high of $142.00.
Roblox announced that its Board of Directors has authorized a stock buyback program on Tuesday, May 19th that permits the company to repurchase $3.00 billion in shares. This repurchase authorization permits the company to purchase up to 9.5% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s management believes its shares are undervalued.
Institutional Inflows and Outflows
Several large investors have recently made changes to their positions in the business. Allspring Global Investments Holdings LLC increased its holdings in shares of Roblox by 379.8% in the first quarter. Allspring Global Investments Holdings LLC now owns 921,424 shares of the company’s stock valued at $53,102,000 after purchasing an additional 729,379 shares during the last quarter. PensionDanmark Pensionsforsikringsaktieselskab raised its stake in Roblox by 35.5% during the second quarter. PensionDanmark Pensionsforsikringsaktieselskab now owns 130,130 shares of the company’s stock worth $7,076,000 after purchasing an additional 34,120 shares during the period. Glynn Capital Management LLC purchased a new position in Roblox during the fourth quarter worth about $5,706,000. Assenagon Asset Management S.A. boosted its holdings in Roblox by 89.0% in the 2nd quarter. Assenagon Asset Management S.A. now owns 1,893,790 shares of the company’s stock valued at $102,984,000 after purchasing an additional 891,634 shares during the last quarter. Finally, Militia Capital Management LLC acquired a new position in Roblox in the 1st quarter valued at about $2,590,000. 94.46% of the stock is owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
A number of equities analysts recently commented on RBLX shares. UBS Group set a $33.00 price objective on shares of Roblox in a research note on Friday, July 31st. Canaccord Genuity Group set a $58.00 price objective on shares of Roblox in a research report on Friday, July 31st. Cantor Fitzgerald began coverage on Roblox in a research note on Monday, June 29th. They issued an “overweight” rating for the company. Needham & Company LLC decreased their price objective on shares of Roblox from $60.00 to $50.00 and set a “buy” rating for the company in a research note on Friday, July 31st. Finally, HSBC cut Roblox from a “buy” rating to a “hold” rating and set a $46.00 price objective for the company. in a report on Friday, May 1st. One research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, fifteen have issued a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $60.89.
Read Our Latest 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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