Insider Selling: Roblox Corporation (NYSE:RBLX) Director Sells 66,000 Shares of Stock

Roblox Corporation (NYSE:RBLX - Get Free Report) Director Anthony P. Lee sold 66,000 shares of the company's stock in a transaction that occurred on Tuesday, July 1st. The stock was sold at an average price of $103.89, for a total transaction of $6,856,740.00. Following the completion of the sale, the director directly owned 284,488 shares of the company's stock, valued at $29,555,458.32. The trade was a 18.83% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink.

Roblox Stock Performance

Shares of NYSE RBLX traded up $1.17 during midday trading on Friday, reaching $103.57. The company had a trading volume of 3,215,401 shares, compared to its average volume of 8,041,105. The business's 50-day simple moving average is $88.07 and its 200 day simple moving average is $70.67. The stock has a market cap of $70.25 billion, a P/E ratio of -77.29 and a beta of 1.60. Roblox Corporation has a 1 year low of $35.30 and a 1 year high of $106.17. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 3.39.

Roblox (NYSE:RBLX - Get Free Report) last posted its quarterly earnings results on Thursday, May 1st. The company reported ($0.32) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.41) by $0.09. The business had revenue of $1.04 billion during the quarter, compared to analysts' expectations of $1.14 billion. Roblox had a negative net margin of 22.94% and a negative return on equity of 442.68%. The business's quarterly revenue was up 30.6% on a year-over-year basis. During the same quarter last year, the company posted ($0.43) earnings per share. On average, analysts forecast that Roblox Corporation will post -1.49 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Kentucky Retirement Systems Insurance Trust Fund purchased a new position in shares of Roblox during the first quarter worth $890,000. Azzad Asset Management Inc. ADV purchased a new position in shares of Roblox during the first quarter worth $280,000. NewSquare Capital LLC grew its position in Roblox by 2.7% during the first quarter. NewSquare Capital LLC now owns 115,121 shares of the company's stock valued at $6,710,000 after buying an additional 3,065 shares during the period. Amundi grew its position in Roblox by 111.4% during the fourth quarter. Amundi now owns 3,191,137 shares of the company's stock valued at $198,010,000 after buying an additional 1,681,263 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. grew its position in Roblox by 101.7% during the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 704,491 shares of the company's stock valued at $40,762,000 after buying an additional 355,270 shares during the period. Hedge funds and other institutional investors own 94.46% of the company's stock.

Analysts Set New Price Targets

Several brokerages have recently weighed in on RBLX. Benchmark upped their price target on shares of Roblox from $71.00 to $77.00 and gave the stock a "buy" rating in a research report on Friday, May 2nd. The Goldman Sachs Group upped their price target on shares of Roblox from $63.00 to $80.00 and gave the stock a "neutral" rating in a research report on Wednesday, May 14th. Bank of America upped their price target on shares of Roblox from $86.00 to $103.00 and gave the stock a "buy" rating in a research report on Thursday, June 5th. Citigroup reaffirmed an "overweight" rating on shares of Roblox in a research report on Monday, June 16th. Finally, Macquarie upped their price target on shares of Roblox from $76.00 to $80.00 and gave the stock an "outperform" rating in a research report on Monday, May 5th. One research analyst has rated the stock with a sell rating, six have given a hold rating, seventeen have assigned a buy rating and two have assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $83.52.

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.