Roblox Co. (NYSE:RBLX) Insider Sells $705,316.67 in Stock

Roblox Co. (NYSE:RBLX) insider Arvind Chakravarthy sold 14,269 shares of the stock in a transaction on Tuesday, November 26th. The shares were sold at an average price of $49.43, for a total transaction of $705,316.67. Following the completion of the transaction, the insider now owns 244,803 shares of the company’s stock, valued at approximately $12,100,612.29. This represents a 5.51 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink.

Roblox Price Performance

Roblox stock opened at $49.37 on Friday. The stock has a market cap of $29.99 billion, a price-to-earnings ratio of -30.10 and a beta of 1.56. Roblox Co. has a 12-month low of $29.55 and a 12-month high of $55.10. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 5.64. The business’s 50-day simple moving average is $46.21 and its 200 day simple moving average is $41.27.

Roblox (NYSE:RBLX) last issued its quarterly earnings results on Thursday, October 31st. The company reported ($0.37) EPS for the quarter, topping the consensus estimate of ($0.39) by $0.02. Roblox had a negative net margin of 30.90% and a negative return on equity of 986.36%. The company had revenue of $919.00 million during the quarter, compared to analysts’ expectations of $1.02 billion. During the same quarter in the previous year, the company earned ($0.45) EPS. Roblox’s revenue was up 9.5% on a year-over-year basis. As a group, research analysts anticipate that Roblox Co. will post -1.56 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on RBLX shares. JPMorgan Chase & Co. upped their target price on shares of Roblox from $51.00 to $62.00 and gave the company an “overweight” rating in a research note on Friday, November 1st. Macquarie increased their target price on Roblox from $50.00 to $58.00 and gave the stock an “outperform” rating in a report on Friday, November 1st. Morgan Stanley upgraded Roblox from an “equal weight” rating to an “overweight” rating and raised their target price for the stock from $38.00 to $65.00 in a research report on Monday, November 4th. Citigroup upped their price target on Roblox from $53.00 to $63.00 and gave the company a “buy” rating in a research report on Tuesday, November 5th. Finally, Needham & Company LLC boosted their target price on shares of Roblox from $50.00 to $60.00 and gave the company a “buy” rating in a research note on Friday, November 1st. Seven research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $55.30.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Baillie Gifford & Co. boosted its holdings in Roblox by 1.9% during the second quarter. Baillie Gifford & Co. now owns 29,142,565 shares of the company’s stock worth $1,084,395,000 after buying an additional 535,414 shares during the last quarter. FMR LLC boosted its stake in Roblox by 24.5% during the 3rd quarter. FMR LLC now owns 20,942,691 shares of the company’s stock worth $926,924,000 after acquiring an additional 4,115,286 shares during the last quarter. ARK Investment Management LLC grew its holdings in Roblox by 12.9% during the second quarter. ARK Investment Management LLC now owns 13,338,829 shares of the company’s stock valued at $496,338,000 after purchasing an additional 1,519,591 shares during the period. Dragoneer Investment Group LLC grew its holdings in Roblox by 26.9% during the second quarter. Dragoneer Investment Group LLC now owns 11,745,203 shares of the company’s stock valued at $437,039,000 after purchasing an additional 2,488,044 shares during the period. Finally, State Street Corp raised its holdings in Roblox by 2.3% in the third quarter. State Street Corp now owns 10,855,890 shares of the company’s stock worth $480,482,000 after purchasing an additional 240,565 shares during the period. 91.08% of the stock is currently owned by institutional investors.

About Roblox

Roblox Corporation develops and operates an online entertainment platform in the United States and internationally. It offers Roblox Studio, a free toolset that allows developers and creators to build, publish, and operate 3D experiences, and other content; Roblox Client, an application that allows users to explore 3D experience; and Roblox Cloud, which provides services and infrastructure that power the platform.