Roblox (NYSE:RBLX) Insider Mark Reinstra Sells 5,773 Shares

Roblox Corporation (NYSE:RBLX) insider Mark Reinstra sold 5,773 shares of the stock in a transaction dated Tuesday, September 8th. The stock was sold at an average price of $44.80, for a total value of $258,630.40. Following the transaction, the insider directly owned 392,291 shares in the company, valued at approximately $17,574,636.80. The trade was a 1.45% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 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 transaction of $250,000.00.
• On Monday, July 6th, Mark Reinstra sold 4,512 shares of Roblox stock. The stock was sold at an average price of $57.34, for a total value of $258,718.08.

Roblox Stock Performance

Roblox stock traded down $0.26 during trading hours on Wednesday, reaching $44.56. 8,630,204 shares of the stock were exchanged, compared to its average volume of 9,984,149. Roblox Corporation has a 52-week low of $33.88 and a 52-week high of $142.00. The stock has a market cap of $29.86 billion, a P/E ratio of -31.16 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. The firm’s 50 day moving average is $44.77 and its 200 day moving average is $50.33.

Roblox (NYSE:RBLX) last issued its quarterly earnings results on Thursday, July 30th. The company reported ($0.26) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.34) by $0.08. The business had revenue of $1.47 billion for the quarter, compared to analyst estimates of $1.60 billion. Roblox had a negative net margin of 17.60% and a negative return on equity of 292.85%. The business’s revenue was up 8.3% compared to the same quarter last year. During the same period in the previous year, the business posted ($0.41) earnings per share. Analysts predict that Roblox Corporation will post -1.39 EPS for the current fiscal year.

Roblox announced that its Board of Directors has authorized a share buyback plan 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 plans are often a sign that the company’s management believes its shares are undervalued.

Analyst Upgrades and Downgrades

RBLX has been the subject of several recent analyst reports. Oppenheimer reduced their price target on Roblox from $82.00 to $50.00 and set an “outperform” rating for the company in a report on Tuesday, August 4th. Canaccord Genuity Group set a $58.00 price objective on Roblox in a report on Friday, July 31st. Arete Research set a $95.00 price objective on Roblox and gave the stock a “buy” rating in a research report on Monday, June 29th. Seaport Research Partners lowered shares of Roblox to a “neutral” rating in a research report on Monday, June 29th. Finally, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Roblox in a research note on Wednesday, June 24th. One research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, fifteen have assigned a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $59.21.

Hedge Funds Weigh In On Roblox

Hedge funds have recently bought and sold shares of the company. Hanson & Doremus Investment Management acquired a new position in Roblox during the first quarter worth $25,000. Fideuram Asset Management Ireland dac acquired a new stake in Roblox in the fourth quarter valued at $27,000. Basecamp Wealth Advisors LLC increased its position in shares of Roblox by 98.8% in the first quarter. Basecamp Wealth Advisors LLC now owns 507 shares of the company’s stock valued at $29,000 after buying an additional 252 shares in the last quarter. GW&K Investment Management LLC increased its position in shares of Roblox by 76.3% in the fourth quarter. GW&K Investment Management LLC now owns 372 shares of the company’s stock valued at $30,000 after buying an additional 161 shares in the last quarter. Finally, Root Financial Partners LLC raised its stake in shares of Roblox by 100.7% during the 1st quarter. Root Financial Partners LLC now owns 564 shares of the company’s stock worth $32,000 after buying an additional 283 shares during the last quarter. 94.46% of the stock is owned by hedge funds and other institutional investors.

Roblox Company Profile

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.