Roblox Co. (NYSE:RBLX) Insider Sells $518,829.40 in Stock

Roblox Co. (NYSE:RBLX) insider Manuel Bronstein sold 10,492 shares of the business’s stock in a transaction that occurred on Friday, November 22nd. The stock was sold at an average price of $49.45, for a total transaction of $518,829.40. Following the sale, the insider now directly owns 618,154 shares of the company’s stock, valued at approximately $30,567,715.30. This trade represents a 1.67 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

Manuel Bronstein also recently made the following trade(s):

• On Monday, November 4th, Manuel Bronstein sold 37,846 shares of Roblox stock. The shares were sold at an average price of $52.03, for a total value of $1,969,127.38.
• On Wednesday, September 11th, Manuel Bronstein sold 15,380 shares of Roblox stock. The shares were sold at an average price of $45.00, for a total value of $692,100.00.
• On Monday, September 9th, Manuel Bronstein sold 40,739 shares of Roblox stock. The stock was sold at an average price of $45.00, for a total value of $1,833,255.00.

Roblox Trading Up 0.6 %

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

Roblox (NYSE:RBLX) last announced its quarterly earnings results on Thursday, October 31st. The company reported ($0.37) EPS for the quarter, beating analysts’ consensus estimates of ($0.39) by $0.02. The firm had revenue of $919.00 million during the quarter, compared to analysts’ expectations of $1.02 billion. Roblox had a negative net margin of 30.90% and a negative return on equity of 986.36%. The company’s revenue for the quarter was up 9.5% compared to the same quarter last year. During the same quarter last year, the company posted ($0.45) earnings per share. Equities research analysts predict that Roblox Co. will post -1.56 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several brokerages have commented on RBLX. BTIG Research upped their target price on shares of Roblox from $51.00 to $56.00 and gave the company a “buy” rating in a research note on Friday, November 1st. BMO Capital Markets reaffirmed an “outperform” rating and set a $62.00 price objective (up previously from $56.00) on shares of Roblox in a research note on Friday, November 1st. Benchmark boosted their target price on Roblox from $44.00 to $60.00 and gave the company a “buy” rating in a research note on Friday, November 1st. Wedbush reaffirmed an “outperform” rating and set a $49.00 price target on shares of Roblox in a research report on Friday, October 25th. Finally, Wells Fargo & Company boosted their price objective on Roblox from $54.00 to $58.00 and gave the company an “overweight” rating in a research report 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 stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $55.30.

Hedge Funds Weigh In On Roblox

A number of hedge funds and other institutional investors have recently bought and sold shares of RBLX. ValueAct Holdings L.P. lifted its position in shares of Roblox by 340.7% in the third quarter. ValueAct Holdings L.P. now owns 10,135,921 shares of the company’s stock valued at $448,616,000 after buying an additional 7,835,921 shares during the last quarter. FMR LLC lifted its holdings in Roblox by 24.5% during the 3rd quarter. FMR LLC now owns 20,942,691 shares of the company’s stock valued at $926,924,000 after purchasing an additional 4,115,286 shares during the last quarter. Dragoneer Investment Group LLC boosted its position in Roblox by 26.9% during the second quarter. Dragoneer Investment Group LLC now owns 11,745,203 shares of the company’s stock worth $437,039,000 after purchasing an additional 2,488,044 shares during the period. Whale Rock Capital Management LLC acquired a new position in shares of Roblox in the third quarter valued at $107,491,000. Finally, Greenvale Capital LLP bought a new position in shares of Roblox in the second quarter valued at about $89,304,000. Institutional investors own 91.08% of the company’s stock.

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.