Roblox Corporation (NYSE:RBLX – Get Free Report) insider Mark Reinstra sold 4,512 shares of the business’s stock in a transaction that occurred on Monday, July 6th. The stock was sold at an average price of $57.34, for a total value of $258,718.08. Following the sale, the insider directly owned 422,248 shares in the company, valued at $24,211,700.32. This trade represents a 1.06% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Mark Reinstra also recently made the following trade(s):
- On Monday, June 8th, Mark Reinstra sold 5,978 shares of Roblox stock. The shares were sold at an average price of $41.71, for a total value of $249,342.38.
- 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 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 shares were sold at an average price of $57.94, for a total value of $1,080,754.82.
Roblox Price Performance
Shares of NYSE:RBLX traded down $0.30 during midday trading on Tuesday, hitting $56.73. 6,796,309 shares of the stock were exchanged, compared to its average volume of 11,797,297. Roblox Corporation has a twelve month low of $40.15 and a twelve month high of $150.59. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 2.45. The company has a 50 day moving average price of $47.68 and a 200-day moving average price of $60.63. The stock has a market cap of $38.10 billion, a P/E ratio of -35.91 and a beta of 1.41.
Roblox announced that its board has approved a share repurchase plan on Tuesday, May 19th that authorizes the company to buyback $3.00 billion in outstanding shares. This buyback authorization authorizes the company to buy up to 9.5% of its shares through open market purchases. Shares buyback plans are typically an indication that the company’s leadership believes its shares are undervalued.
Wall Street Analyst Weigh In
A number of research analysts have issued reports on RBLX shares. Roth Capital set a $65.00 target price on shares of Roblox in a report on Tuesday, May 5th. Jefferies Financial Group lowered shares of Roblox from a “hold” rating to a “hold” rating in a report on Friday, May 1st. Wedbush cut shares of Roblox from a “hold” rating to a “neutral” rating in a research report on Friday, May 1st. Barclays upgraded shares of Roblox from an “equal weight” rating to an “outperform” rating in a report on Monday, June 29th. Finally, UBS Group began coverage on shares of Roblox in a research note on Monday, June 29th. They set a “buy” rating on the stock. One research analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, eleven have assigned a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $85.48.
Check Out Our Latest Research Report on RBLX
Institutional Trading of Roblox
A number of institutional investors have recently modified their holdings of the company. Cypress Wealth Services LLC acquired a new position in shares of Roblox during the fourth quarter worth about $2,373,000. Yarbrough Capital LLC grew its stake in shares of Roblox by 1,514.5% in the fourth quarter. Yarbrough Capital LLC now owns 57,331 shares of the company’s stock valued at $4,646,000 after buying an additional 53,780 shares in the last quarter. Glynn Capital Management LLC purchased a new stake in shares of Roblox during the 4th quarter valued at about $5,706,000. Steadview Capital Management LLC acquired a new position in Roblox during the 4th quarter worth approximately $12,884,000. Finally, Norges Bank acquired a new position in Roblox during the 4th quarter worth approximately $435,424,000. Hedge funds and other institutional investors 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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