Insider Selling: Roblox Corporation (NYSE:RBLX) CEO Sells 454,963 Shares of Stock

Roblox Corporation (NYSE:RBLX - Get Free Report) CEO David Baszucki sold 454,963 shares of Roblox stock in a transaction on Tuesday, June 17th. The shares were sold at an average price of $100.61, for a total value of $45,773,827.43. Following the transaction, the chief executive officer now owns 211,559 shares in the company, valued at $21,284,950.99. This represents a 68.26% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website.

David Baszucki also recently made the following trade(s):

• On Tuesday, June 17th, David Baszucki sold 173,711 shares of Roblox stock. The shares were sold at an average price of $100.61, for a total value of $17,477,063.71.
• On Monday, June 16th, David Baszucki sold 88,787 shares of Roblox stock. The shares were sold at an average price of $100.50, for a total value of $8,923,093.50.
• On Monday, June 16th, David Baszucki sold 232,537 shares of Roblox stock. The stock was sold at an average price of $100.50, for a total value of $23,369,968.50.
• On Wednesday, June 11th, David Baszucki sold 60,047 shares of Roblox stock. The stock was sold at an average price of $95.97, for a total value of $5,762,710.59.
• On Friday, June 6th, David Baszucki sold 239,572 shares of Roblox stock. The stock was sold at an average price of $96.04, for a total value of $23,008,494.88.
• On Friday, June 6th, David Baszucki sold 627,453 shares of Roblox stock. The stock was sold at an average price of $96.04, for a total value of $60,260,586.12.
• On Thursday, June 5th, David Baszucki sold 262,498 shares of Roblox stock. The stock was sold at an average price of $92.26, for a total value of $24,218,065.48.
• On Thursday, June 5th, David Baszucki sold 687,500 shares of Roblox stock. The stock was sold at an average price of $92.26, for a total value of $63,428,750.00.
• On Monday, June 2nd, David Baszucki sold 262,498 shares of Roblox stock. The stock was sold at an average price of $87.97, for a total value of $23,091,949.06.
• On Monday, June 2nd, David Baszucki sold 687,500 shares of Roblox stock. The shares were sold at an average price of $87.97, for a total value of $60,479,375.00.

Roblox Stock Down 0.5%

Roblox stock traded down $0.51 during midday trading on Friday, hitting $102.14. 9,953,279 shares of the stock were exchanged, compared to its average volume of 7,976,663. Roblox Corporation has a 52-week low of $34.62 and a 52-week high of $104.77. The business's 50-day moving average price is $78.68 and its 200-day moving average price is $67.23. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 3.39.

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

Hedge Funds Weigh In On Roblox

A number of large investors have recently modified their holdings of the company. Principal Financial Group Inc. boosted its stake in shares of Roblox by 53.9% in the 4th quarter. Principal Financial Group Inc. now owns 279,849 shares of the company's stock valued at $16,192,000 after purchasing an additional 98,041 shares in the last quarter. Sanctuary Advisors LLC lifted its stake in Roblox by 20.6% in the fourth quarter. Sanctuary Advisors LLC now owns 36,813 shares of the company's stock worth $2,130,000 after purchasing an additional 6,290 shares during the last quarter. CIBC Asset Management Inc boosted its position in Roblox by 14.4% during the fourth quarter. CIBC Asset Management Inc now owns 23,244 shares of the company's stock valued at $1,345,000 after buying an additional 2,923 shares during the period. D.A. Davidson & CO. lifted its position in Roblox by 3.8% in the fourth quarter. D.A. Davidson & CO. now owns 24,602 shares of the company's stock valued at $1,423,000 after purchasing an additional 891 shares during the last quarter. Finally, Venturi Wealth Management LLC increased its stake in shares of Roblox by 2,955.0% in the fourth quarter. Venturi Wealth Management LLC now owns 1,222 shares of the company's stock worth $71,000 after buying an additional 1,182 shares during the period. 94.46% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the company. FBN Securities initiated coverage on Roblox in a research note on Friday, March 28th. They issued a "sector perform" rating and a $65.00 price objective on the stock. Roth Mkm increased their target price on Roblox from $72.00 to $74.00 and gave the stock a "neutral" rating in a report on Friday, May 2nd. Macquarie increased their target price on Roblox from $76.00 to $80.00 and gave the stock an "outperform" rating in a report on Monday, May 5th. Oppenheimer reissued an "outperform" rating and issued a $125.00 target price (up from $80.00) on shares of Roblox in a report on Wednesday. Finally, Morgan Stanley reduced their target price on shares of Roblox from $75.00 to $70.00 and set an "overweight" rating on the stock in a research note on Thursday, April 17th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $78.04.

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.

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