Roblox (NYSE:RBLX) Stock Price Down 7.9% Following Insider Selling
Roblox (NYSE:RBLX) shares fell 7.9% to $53.97 after insider selling, with CFO Michael Guthrie selling 50,000 shares at $60.14, and CEO David Baszucki selling 195,068 shares at $64.94. Analysts have mixed ratings, with a consensus target price of $64.19. The company reported a quarterly EPS of ($0.33), exceeding estimates. Institutional investors have increased their stakes in Roblox recently, indicating ongoing interest despite the stock's decline.
Shares of Roblox Co. (NYSE:RBLX - Get Free Report) fell 7.9% on Friday after an insider sold shares in the company. The stock traded as low as $54.18 and last traded at $53.97. 4,352,132 shares changed hands during mid-day trading, a decline of 42% from the average session volume of 7,532,069 shares. The stock had previously closed at $58.57.
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Specifically, CFO Michael Guthrie sold 50,000 shares of the business's stock in a transaction that occurred on Tuesday, March 4th. The shares were sold at an average price of $60.14, for a total transaction of $3,007,000.00. Following the transaction, the chief financial officer now directly owns 395,465 shares of the company's stock, valued at approximately $23,783,265.10. The trade was a 11.22 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Christopher Carvalho sold 12,986 shares of the business's stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $63.57, for a total value of $825,520.02. Following the completion of the sale, the director now directly owns 982,412 shares of the company's stock, valued at $62,451,930.84. This represents a 1.30 % decrease in their position. The disclosure for this sale can be found here. In related news, CEO David Baszucki sold 195,068 shares of the business's stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $64.94, for a total transaction of $12,667,715.92. Following the transaction, the chief executive officer now directly owns 122,853 shares in the company, valued at $7,978,073.82. The trade was a 61.36 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link.
Wall Street Analyst Weigh In
RBLX has been the topic of a number of analyst reports. Wedbush reiterated an "outperform" rating and issued a $83.00 price target on shares of Roblox in a research report on Friday, February 7th. Roth Mkm raised their price objective on shares of Roblox from $54.00 to $70.00 and gave the stock a "neutral" rating in a report on Monday, January 27th. The Goldman Sachs Group boosted their target price on Roblox from $55.00 to $63.00 and gave the stock a "neutral" rating in a report on Friday, February 7th. Citigroup increased their price target on Roblox from $63.00 to $82.00 and gave the stock a "buy" rating in a research report on Monday, February 3rd. Finally, Raymond James reiterated a "strong-buy" rating and issued a $60.00 price objective on shares of Roblox in a research report on Friday, November 22nd. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Roblox has an average rating of "Moderate Buy" and a consensus target price of $64.19.
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Read Our Latest Report on Roblox
Roblox Stock Performance
The company has a current ratio of 1.02, a quick ratio of 0.98 and a debt-to-equity ratio of 4.82. The firm has a market capitalization of $33.25 billion, a P/E ratio of -37.04 and a beta of 1.49. The business's 50 day simple moving average is $64.28 and its two-hundred day simple moving average is $53.79.
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Roblox (NYSE:RBLX - Get Free Report) last posted its quarterly earnings results on Thursday, February 6th. The company reported ($0.33) earnings per share for the quarter, topping the consensus estimate of ($0.46) by $0.13. Roblox had a negative return on equity of 665.98% and a negative net margin of 25.97%. Sell-side analysts anticipate that Roblox Co. will post -1.49 EPS for the current fiscal year.
Institutional Inflows and Outflows
Several institutional investors have recently bought and sold shares of RBLX. Toronto Dominion Bank raised its holdings in Roblox by 34.3% in the third quarter. Toronto Dominion Bank now owns 60,092 shares of the company's stock worth $2,660,000 after purchasing an additional 15,333 shares in the last quarter. Smith Group Asset Management LLC increased its stake in shares of Roblox by 939.6% during the fourth quarter. Smith Group Asset Management LLC now owns 69,030 shares of the company's stock worth $3,994,000 after purchasing an additional 62,390 shares in the last quarter. Chicago Partners Investment Group LLC acquired a new position in Roblox during the fourth quarter worth about $363,000. Entropy Technologies LP raised its holdings in shares of Roblox by 168.4% during the 3rd quarter. Entropy Technologies LP now owns 99,649 shares of the company's stock worth $4,410,000 after acquiring an additional 62,521 shares during the period. Finally, Silicon Valley Capital Partners grew its position in Roblox by 3,010.0% in the fourth quarter. Silicon Valley Capital Partners now owns 69,104 shares of the company's stock worth $3,998,000 after acquiring an additional 66,882 shares during the period. 94.46% of the stock is currently owned by hedge funds and other institutional investors.
About Roblox
(Get Free Report)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.
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