Roblox (NYSE:RBLX) Insider Mark Reinstra Sells 4,512 Shares of Stock

Roblox Corporation (NYSE:RBLX) insider Mark Reinstra sold 4,512 shares of Roblox stock in a transaction that occurred on Monday, July 6th. The shares were sold at an average price of $57.34, for a total transaction of $258,718.08. Following the sale, the insider owned 422,248 shares in the company, valued at $24,211,700.32. This represents a 1.06% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• On Monday, June 8th, Mark Reinstra sold 5,978 shares of Roblox stock. The shares were sold at an average price of $41.71, for a total transaction of $249,342.38.
• On Thursday, May 21st, Mark Reinstra sold 5,460 shares of Roblox stock. The shares were sold at an average price of $46.40, for a total transaction of $253,344.00.
• On Wednesday, May 20th, Mark Reinstra sold 17,275 shares of Roblox stock. The stock was sold at an average price of $45.28, for a total transaction of $782,212.00.
• On Monday, April 13th, Mark Reinstra sold 18,653 shares of Roblox stock. The stock was sold at an average price of $57.94, for a total transaction of $1,080,754.82.

Roblox Stock Down 0.5%

NYSE:RBLX traded down $0.30 on Tuesday, reaching $56.73. The stock had a trading volume of 6,796,309 shares, compared to its average volume of 11,797,297. The company has a 50-day moving average of $47.68 and a 200 day moving average of $60.63. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 2.45. The stock has a market cap of $38.10 billion, a P/E ratio of -35.91 and a beta of 1.41. Roblox Corporation has a 12-month low of $40.15 and a 12-month high of $150.59.

Roblox (NYSE:RBLX) last announced its earnings results on Thursday, April 30th. The company reported ($0.35) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.41) by $0.06. The business had revenue of $1.44 billion for the quarter, compared to analyst estimates of $1.74 billion. Roblox had a negative return on equity of 277.69% and a negative net margin of 20.69%.The company’s revenue for the quarter was up 43.4% compared to the same quarter last year. During the same period in the previous year, the company earned ($0.32) earnings per share. On average, research analysts predict that Roblox Corporation will post -1.4 earnings per share for the current year.

Roblox announced that its board has initiated a stock repurchase program on Tuesday, May 19th that allows the company to buyback $3.00 billion in outstanding shares. This buyback authorization allows the company to repurchase up to 9.5% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s leadership believes its shares are undervalued.

Analyst Upgrades and Downgrades

RBLX has been the subject of several research analyst reports. Morgan Stanley reiterated an “overweight” rating and set a $62.00 target price on shares of Roblox in a research note on Friday, May 1st. Deutsche Bank Aktiengesellschaft began coverage on shares of Roblox in a report on Monday, June 29th. They issued a “buy” rating on the stock. Needham & Company LLC assumed coverage on shares of Roblox in a report on Monday, June 29th. They set a “buy” rating for the company. HSBC downgraded shares of Roblox from a “buy” rating to a “hold” rating and set a $46.00 target price for the company. in a research report on Friday, May 1st. Finally, Piper Sandler cut shares of Roblox from an “overweight” rating to a “neutral” rating and reduced their price target for the stock from $100.00 to $50.00 in a research report on Monday, May 4th. One analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, eleven have given a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $85.48.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. Vanguard Group Inc. grew its position in shares of Roblox by 1.6% during the 4th quarter. Vanguard Group Inc. now owns 63,458,784 shares of the company’s stock valued at $5,142,065,000 after buying an additional 1,020,786 shares during the last quarter. Capital International Investors lifted its holdings in Roblox by 7.3% in the fourth quarter. Capital International Investors now owns 31,953,301 shares of the company’s stock worth $2,589,282,000 after acquiring an additional 2,184,439 shares during the last quarter. Morgan Stanley boosted its stake in Roblox by 8.1% in the fourth quarter. Morgan Stanley now owns 20,728,914 shares of the company’s stock valued at $1,679,664,000 after acquiring an additional 1,555,549 shares during the period. State Street Corp boosted its stake in Roblox by 3.3% in the fourth quarter. State Street Corp now owns 13,812,362 shares of the company’s stock valued at $1,119,216,000 after acquiring an additional 442,518 shares during the period. Finally, Geode Capital Management LLC grew its holdings in shares of Roblox by 4.7% during the fourth quarter. Geode Capital Management LLC now owns 12,220,045 shares of the company’s stock valued at $988,002,000 after purchasing an additional 547,103 shares during the last quarter. 94.46% of the stock is owned by institutional investors and hedge funds.

Roblox Company Profile

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.