Key Points
- Roblox insider Mark Reinstra sold 5,773 shares for approximately $258,630 at an average price of $44.80, reducing his ownership by 1.45% to 392,291 shares. The sale was conducted under a pre-arranged Rule 10b5-1 trading plan.
- Roblox reported a quarterly loss of $0.26 per share, beating estimates, while revenue of $1.47 billion fell short of forecasts but increased 8.3% year over year.
- Analysts maintain a consensus “Hold” rating with an average price target of $59.21, while the company has authorized a $3 billion share buyback covering up to 9.5% of outstanding shares.
Roblox Corporation (NYSE:RBLX - Get Free Report) insider Mark Reinstra sold 5,773 shares of the stock in a transaction that occurred on Tuesday, September 8th. The stock was sold at an average price of $44.80, for a total transaction of $258,630.40. Following the completion of the sale, the insider owned 392,291 shares in the company, valued at $17,574,636.80. This represents a 1.45% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Mark Reinstra also recently made the following trade(s):
- On Thursday, August 20th, Mark Reinstra sold 17,934 shares of Roblox stock. The stock was sold at an average price of $37.96, for a total transaction of $680,774.64.
- On Wednesday, August 19th, Mark Reinstra sold 6,250 shares of Roblox stock. The stock was sold at an average price of $40.00, for a total value of $250,000.00.
- On Monday, July 6th, Mark Reinstra sold 4,512 shares of Roblox stock. The shares were sold at an average price of $57.34, for a total value of $258,718.08.
Roblox Price Performance
Roblox stock opened at $44.56 on Thursday. The stock has a market cap of $29.86 billion, a price-to-earnings ratio of -31.16 and a beta of 1.47. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 7.82. The business has a 50-day simple moving average of $44.77 and a 200 day simple moving average of $50.33. Roblox Corporation has a 52 week low of $33.88 and a 52 week high of $142.00.
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, beating the consensus estimate of ($0.34) by $0.08. The firm had revenue of $1.47 billion for the quarter, compared to analysts' expectations of $1.60 billion. Roblox had a negative return on equity of 292.85% and a negative net margin of 17.60%.The company's revenue was up 8.3% compared to the same quarter last year. During the same quarter last year, the firm posted ($0.41) EPS. On average, research analysts forecast that Roblox Corporation will post -1.39 earnings per share for the current fiscal year.
Roblox declared that its Board of Directors has approved a stock buyback program on Tuesday, May 19th that allows the company to buyback $3.00 billion in shares. This buyback authorization allows the company to reacquire up to 9.5% of its shares through open market purchases. Shares buyback programs are usually a sign that the company's management believes its shares are undervalued.
Wall Street Analysts Forecast Growth
RBLX has been the subject of several research analyst reports. Cantor Fitzgerald assumed coverage on shares of Roblox in a research report on Monday, June 29th. They set an "overweight" rating for the company. Deutsche Bank Aktiengesellschaft lowered shares of Roblox from a "buy" rating to a "hold" rating and decreased their price target for the stock from $56.00 to $38.00 in a report on Friday, July 31st. Piper Sandler restated a "neutral" rating and set a $47.00 price objective (down from $50.00) on shares of Roblox in a research report on Friday, July 31st. Moffett Nathanson reaffirmed a "neutral" rating and set a $40.00 price objective on shares of Roblox in a report on Monday, August 3rd. Finally, TD Cowen dropped their price objective on shares of Roblox from $49.00 to $40.00 and set a "hold" rating for the company in a report on Friday, July 31st. One equities research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, fifteen have given a Hold rating and three have assigned a Sell rating to the company's stock. According to MarketBeat.com, Roblox has a consensus rating of "Hold" and an average price target of $59.21.
Read Our Latest Stock Analysis on Roblox
Institutional Trading of Roblox
Several hedge funds and other institutional investors have recently bought and sold shares of the company. National Pension Service raised its stake in shares of Roblox by 34.0% during the second quarter. National Pension Service now owns 1,243,524 shares of the company's stock worth $67,623,000 after acquiring an additional 315,244 shares in the last quarter. NorthRock Partners LLC boosted its stake in shares of Roblox by 13.7% in the 2nd quarter. NorthRock Partners LLC now owns 30,413 shares of the company's stock valued at $1,654,000 after purchasing an additional 3,660 shares in the last quarter. NewEdge Advisors LLC boosted its stake in shares of Roblox by 18.6% in the 2nd quarter. NewEdge Advisors LLC now owns 16,977 shares of the company's stock valued at $923,000 after purchasing an additional 2,662 shares in the last quarter. IFP Advisors Inc grew its holdings in shares of Roblox by 25.5% during the 2nd quarter. IFP Advisors Inc now owns 33,527 shares of the company's stock valued at $1,823,000 after purchasing an additional 6,808 shares during the last quarter. Finally, Allworth Financial LP grew its holdings in shares of Roblox by 50.9% during the 2nd quarter. Allworth Financial LP now owns 8,994 shares of the company's stock valued at $489,000 after purchasing an additional 3,032 shares during the last quarter. Hedge funds and other institutional investors own 94.46% of the company's stock.
About Roblox
(
Get Free Report)
Roblox Corporation develops and operates Roblox, an online platform where users can create, share and play interactive experiences. The platform supports a broad range of user-generated content, including games, social spaces, educational activities and entertainment experiences, and is accessible across computers, mobile devices, consoles and other supported platforms.
Roblox provides development tools through Roblox Studio, while its virtual economy uses Robux, a digital currency that users can purchase and spend on virtual items, avatar customization and other platform content.
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