Roblox Co. (NYSE:RBLX) Insider Mark Reinstra Sells 24,000 Shares

Roblox Co. (NYSE:RBLX) insider Mark Reinstra sold 24,000 shares of the business’s stock in a transaction that occurred on Monday, December 23rd. The stock was sold at an average price of $59.75, for a total transaction of $1,434,000.00. Following the sale, the insider now owns 278,161 shares of the company’s stock, valued at approximately $16,620,119.75. This represents a 7.94 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

Mark Reinstra also recently made the following trade(s):

• On Wednesday, November 20th, Mark Reinstra sold 16,480 shares of Roblox stock. The shares were sold at an average price of $51.43, for a total value of $847,566.40.

Roblox Price Performance

RBLX stock traded up $0.37 during trading on Thursday, hitting $59.93. The company had a trading volume of 2,718,763 shares, compared to its average volume of 7,588,547. The business has a 50 day moving average of $52.26 and a 200 day moving average of $44.75. The firm has a market capitalization of $36.41 billion, a price-to-earnings ratio of -36.54 and a beta of 1.50. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 5.64. Roblox Co. has a fifty-two week low of $29.55 and a fifty-two week high of $61.77.

Roblox (NYSE:RBLX) last issued its quarterly earnings results on Thursday, October 31st. The company reported ($0.37) earnings per share for the quarter, topping analysts’ consensus estimates 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 analyst estimates of $1.02 billion. During the same period in the prior year, the business posted ($0.45) EPS. The business’s revenue for the quarter was up 9.5% compared to the same quarter last year. As a group, research analysts predict that Roblox Co. will post -1.56 earnings per share for the current year.

Analyst Ratings Changes

RBLX has been the subject of several recent research reports. HSBC initiated coverage on shares of Roblox in a research report on Thursday, December 12th. They issued a “buy” rating and a $63.00 price objective for the company. Deutsche Bank Aktiengesellschaft lifted their price target on shares of Roblox from $45.00 to $60.00 and gave the stock a “buy” rating in a research note on Monday, November 4th. Morgan Stanley raised Roblox from an “equal weight” rating to an “overweight” rating and boosted their price objective for the company from $38.00 to $65.00 in a report on Monday, November 4th. The Goldman Sachs Group increased their target price on Roblox from $45.00 to $55.00 and gave the stock a “neutral” rating in a report on Friday, November 1st. Finally, Piper Sandler boosted their price target on Roblox from $54.00 to $65.00 and gave the company an “overweight” rating in a report on Friday, November 1st. Seven equities research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Roblox presently has an average rating of “Moderate Buy” and a consensus target price of $55.67.

Hedge Funds Weigh In On Roblox

Hedge funds have recently modified their holdings of the company. Impact Partnership Wealth LLC grew its stake in shares of Roblox by 3.8% in the 3rd quarter. Impact Partnership Wealth LLC now owns 6,730 shares of the company’s stock worth $298,000 after purchasing an additional 245 shares during the last quarter. Metis Global Partners LLC grew its position in Roblox by 5.0% in the third quarter. Metis Global Partners LLC now owns 6,003 shares of the company’s stock worth $266,000 after buying an additional 288 shares during the last quarter. Oppenheimer & Co. Inc. increased its holdings in shares of Roblox by 5.0% in the third quarter. Oppenheimer & Co. Inc. now owns 6,691 shares of the company’s stock valued at $296,000 after buying an additional 321 shares in the last quarter. Atomi Financial Group Inc. lifted its position in shares of Roblox by 0.3% during the 3rd quarter. Atomi Financial Group Inc. now owns 136,658 shares of the company’s stock valued at $6,048,000 after acquiring an additional 380 shares during the last quarter. Finally, Commerce Bank boosted its stake in shares of Roblox by 5.7% during the 3rd quarter. Commerce Bank now owns 7,360 shares of the company’s stock worth $326,000 after acquiring an additional 400 shares in the last quarter. 94.46% of the stock is currently owned by institutional investors and hedge funds.

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.