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

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

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 Stock Performance

NYSE:RBLX opened at $59.93 on Friday. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 5.64. The company has a 50-day moving average of $52.26 and a 200-day moving average of $44.75. Roblox Co. has a twelve month low of $29.55 and a twelve month high of $61.77. The firm has a market cap of $36.41 billion, a price-to-earnings ratio of -36.54 and a beta of 1.50.

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

Institutional Trading of Roblox

Several large investors have recently added to or reduced their stakes in the company. ValueAct Holdings L.P. lifted its position in Roblox by 340.7% in the 3rd quarter. ValueAct Holdings L.P. now owns 10,135,921 shares of the company’s stock worth $448,616,000 after buying an additional 7,835,921 shares in the last quarter. FMR LLC increased its stake in shares of Roblox by 24.5% in the third 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. Dragoneer Investment Group LLC raised its holdings in shares of 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 acquiring an additional 2,488,044 shares in the last quarter. Whale Rock Capital Management LLC acquired a new stake in Roblox during the third quarter valued at $107,491,000. Finally, Greenvale Capital LLP purchased a new position in Roblox in the second quarter valued at about $89,304,000. 94.46% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on RBLX shares. Wedbush reissued an “outperform” rating and set a $49.00 price target on shares of Roblox in a research report on Friday, October 25th. Wells Fargo & Company increased their price target on shares of Roblox from $54.00 to $58.00 and gave the stock an “overweight” rating in a research report on Friday, November 1st. Benchmark boosted their price objective on Roblox from $44.00 to $60.00 and gave the company a “buy” rating in a report on Friday, November 1st. Canaccord Genuity Group increased their target price on Roblox from $50.00 to $60.00 and gave the stock a “buy” rating in a report on Friday, November 1st. Finally, JPMorgan Chase & Co. lifted their target price on Roblox from $51.00 to $62.00 and gave the stock an “overweight” rating in a research report on Friday, November 1st. Seven 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. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $55.67.

Roblox Company Profile

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.