Key Points
- Roblox director Gregory Baszucki sold 16,666 shares for approximately $674,473 at an average price of $40.47 under a pre-arranged Rule 10b5-1 plan, reducing his holdings by 1.3% to 1,261,169 shares.
- Roblox reported a quarterly loss of $0.26 per share, better than analysts’ expected $0.34 loss, while revenue of $1.47 billion fell short of the $1.60 billion consensus estimate but increased 8.3% year over year.
- Analysts have a consensus “Hold” rating and an average price target of $60.89; meanwhile, Roblox has authorized a $3 billion share repurchase program covering up to 9.5% of outstanding shares.
Roblox Corporation (NYSE:RBLX - Get Free Report) Director Gregory Baszucki sold 16,666 shares of the stock in a transaction dated Tuesday, September 1st. The stock was sold at an average price of $40.47, for a total value of $674,473.02. Following the transaction, the director owned 1,261,169 shares of the company's stock, valued at approximately $51,039,509.43. This trade represents a 1.30% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Gregory Baszucki also recently made the following trade(s):
- On Tuesday, August 4th, Gregory Baszucki sold 16,666 shares of Roblox stock. The shares were sold at an average price of $37.46, for a total value of $624,308.36.
- On Wednesday, July 1st, Gregory Baszucki sold 16,666 shares of Roblox stock. The stock was sold at an average price of $57.69, for a total value of $961,461.54.
Roblox Stock Up 1.4%
NYSE:RBLX opened at $41.23 on Thursday. The stock has a 50-day simple moving average of $45.65 and a 200 day simple moving average of $51.03. Roblox Corporation has a 52-week low of $33.88 and a 52-week high of $142.00. The company has a market cap of $27.62 billion, a PE ratio of -28.83 and a beta of 1.47. The company has a debt-to-equity ratio of 7.82, a quick ratio of 0.82 and a current ratio of 0.82.
Roblox (NYSE:RBLX - Get Free Report) last released its quarterly earnings results on Thursday, July 30th. The company reported ($0.26) earnings per share for the quarter, topping analysts' consensus estimates of ($0.34) by $0.08. The firm had revenue of $1.47 billion during the quarter, compared to the consensus estimate of $1.60 billion. Roblox had a negative return on equity of 292.85% and a negative net margin of 17.60%.The business's revenue was up 8.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.41) EPS. On average, sell-side analysts expect that Roblox Corporation will post -1.39 EPS for the current fiscal year.
Roblox announced that its Board of Directors has approved a share buyback program on Tuesday, May 19th that allows the company to repurchase $3.00 billion in outstanding shares. This repurchase authorization allows the company to reacquire up to 9.5% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company's leadership believes its stock is undervalued.
Institutional Trading of Roblox
Institutional investors and hedge funds have recently bought and sold shares of the business. Sunbelt Securities Inc. lifted its position in shares of Roblox by 58.7% in the third quarter. Sunbelt Securities Inc. now owns 284 shares of the company's stock valued at $39,000 after buying an additional 105 shares during the last quarter. Horizon Investments LLC increased its holdings in shares of Roblox by 2,636.4% during the 3rd quarter. Horizon Investments LLC now owns 301 shares of the company's stock worth $42,000 after acquiring an additional 290 shares during the last quarter. Fideuram Asset Management Ireland dac bought a new stake in Roblox in the 4th quarter valued at $27,000. GW&K Investment Management LLC raised its stake in Roblox by 76.3% in the 4th quarter. GW&K Investment Management LLC now owns 372 shares of the company's stock valued at $30,000 after acquiring an additional 161 shares during the period. Finally, Zions Bancorporation National Association UT bought a new stake in Roblox in the 4th quarter valued at $32,000. Institutional investors own 94.46% of the company's stock.
Wall Street Analysts Forecast Growth
A number of research analysts recently weighed in on the stock. Benchmark downgraded shares of Roblox from a "hold" rating to a "sell" rating and set a $33.00 target price for the company. in a research report on Friday, July 31st. DA Davidson set a $40.00 price objective on shares of Roblox in a research note on Friday, July 31st. Arete Research set a $95.00 price objective on Roblox and gave the company a "buy" rating in a report on Monday, June 29th. Wolfe Research cut Roblox from an "outperform" rating to a "hold" rating in a report on Friday, July 31st. Finally, UBS Group set a $33.00 target price on Roblox in a research report on Friday, July 31st. One investment analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, fifteen have assigned a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat.com, Roblox presently has a consensus rating of "Hold" and a consensus price target of $60.89.
Read Our Latest Report on Roblox
About Roblox
(
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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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