Roblox Corporation (NYSE:RBLX – Get Free Report) insider Mark Reinstra sold 5,978 shares of the business’s stock in a transaction dated Monday, June 8th. The shares were sold at an average price of $41.71, for a total transaction of $249,342.38. Following the completion of the transaction, the insider owned 426,760 shares in the company, valued at $17,800,159.60. The trade was a 1.38% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Mark Reinstra also recently made the following trade(s):
- On Thursday, May 21st, Mark Reinstra sold 5,460 shares of Roblox stock. The shares were sold at an average price of $46.40, for a total transaction of $253,344.00.
- On Wednesday, May 20th, Mark Reinstra sold 17,275 shares of Roblox stock. The shares were sold at an average price of $45.28, for a total transaction of $782,212.00.
- On Monday, April 13th, Mark Reinstra sold 18,653 shares of Roblox stock. The shares were sold at an average price of $57.94, for a total transaction of $1,080,754.82.
Roblox Trading Up 1.1%
Shares of Roblox stock traded up $0.48 on Monday, reaching $42.30. The company had a trading volume of 9,718,866 shares, compared to its average volume of 11,733,387. The firm’s 50 day moving average price is $51.24 and its two-hundred day moving average price is $67.20. The firm has a market cap of $28.41 billion, a PE ratio of -26.77 and a beta of 1.44. Roblox Corporation has a 52-week low of $40.15 and a 52-week high of $150.59. The company has a debt-to-equity ratio of 2.45, a quick ratio of 0.89 and a current ratio of 0.89.
Roblox announced that its board has initiated a share repurchase plan on Tuesday, May 19th that authorizes the company to repurchase $3.00 billion in outstanding shares. This repurchase authorization authorizes the company to repurchase up to 9.5% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s board believes its shares are undervalued.
Analyst Upgrades and Downgrades
Several equities research analysts recently weighed in on the stock. HSBC downgraded shares of Roblox from a “buy” rating to a “hold” rating and set a $46.00 target price on the stock. in a research note on Friday, May 1st. Barclays cut their target price on shares of Roblox from $115.00 to $60.00 and set an “equal weight” rating on the stock in a research note on Friday, May 1st. Needham & Company LLC assumed coverage on shares of Roblox in a research note on Friday, May 1st. They set a “buy” rating and a $60.00 target price on the stock. Bank of America downgraded shares of Roblox from a “buy” rating to a “neutral” rating and set a $48.00 target price on the stock. in a research note on Friday, May 1st. Finally, The Goldman Sachs Group cut their target price on shares of Roblox from $125.00 to $65.00 and set a “buy” rating on the stock in a research note on Friday, May 1st. One 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 assigned a Sell rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $87.07.
Get Our Latest Report on Roblox
Institutional Inflows and Outflows
Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its holdings in Roblox by 1.6% during the 4th quarter. Vanguard Group Inc. now owns 63,458,784 shares of the company’s stock worth $5,142,065,000 after acquiring an additional 1,020,786 shares in the last quarter. Capital International Investors grew its holdings in Roblox by 7.3% during the 4th quarter. Capital International Investors now owns 31,953,301 shares of the company’s stock worth $2,589,282,000 after acquiring an additional 2,184,439 shares in the last quarter. Morgan Stanley grew its holdings in Roblox by 8.1% during the 4th quarter. Morgan Stanley now owns 20,728,914 shares of the company’s stock worth $1,679,664,000 after acquiring an additional 1,555,549 shares in the last quarter. State Street Corp grew its holdings in Roblox by 3.3% during the 4th quarter. State Street Corp now owns 13,812,362 shares of the company’s stock worth $1,119,216,000 after acquiring an additional 442,518 shares in the last quarter. Finally, Geode Capital Management LLC grew its position in shares of Roblox by 4.7% in the 4th quarter. Geode Capital Management LLC now owns 12,220,045 shares of the company’s stock valued at $988,002,000 after buying an additional 547,103 shares during the last quarter. Institutional investors and hedge funds 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.
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