Roblox Co. (NYSE:RBLX) CEO Sells $60,260,586.12 in Stock

Roblox Co. (NYSE:RBLX - Get Free Report) CEO David Baszucki sold 627,453 shares of the firm's stock in a transaction dated Friday, June 6th. The stock was sold at an average price of $96.04, for a total transaction of $60,260,586.12. Following the completion of the transaction, the chief executive officer now owns 211,559 shares in the company, valued at approximately $20,318,126.36. The trade was a 74.78% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website.

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

• On Friday, June 6th, David Baszucki sold 239,572 shares of Roblox stock. The shares were sold at an average price of $96.04, for a total transaction of $23,008,494.88.
• 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 transaction 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 transaction 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 transaction 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 transaction of $60,479,375.00.
• On Tuesday, May 20th, David Baszucki sold 10,424 shares of Roblox stock. The shares were sold at an average price of $80.66, for a total transaction of $840,799.84.
• On Monday, May 12th, David Baszucki sold 45,074 shares of Roblox stock. The stock was sold at an average price of $74.44, for a total transaction of $3,355,308.56.
• On Monday, May 12th, David Baszucki sold 118,051 shares of Roblox stock. The stock was sold at an average price of $74.44, for a total transaction of $8,787,716.44.
• On Monday, May 5th, David Baszucki sold 1,375,002 shares of Roblox stock. The stock was sold at an average price of $72.19, for a total transaction of $99,261,394.38.
• On Monday, April 7th, David Baszucki sold 229,167 shares of Roblox stock. The shares were sold at an average price of $52.48, for a total transaction of $12,026,684.16.

Roblox Stock Performance

Shares of RBLX traded down $1.21 during midday trading on Thursday, reaching $94.96. 8,669,756 shares of the stock were exchanged, compared to its average volume of 7,897,798. Roblox Co. has a twelve month low of $34.41 and a twelve month high of $98.11. The company has a quick ratio of 0.98, a current ratio of 1.02 and a debt-to-equity ratio of 4.82. The company has a market cap of $64.41 billion, a P/E ratio of -65.49 and a beta of 1.56. The stock's 50 day simple moving average is $73.18 and its 200 day simple moving average is $65.16.

Roblox (NYSE:RBLX - Get Free Report) last released its earnings results on Thursday, May 1st. The company reported ($0.32) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.41) by $0.09. The firm had revenue of $1.04 billion for the quarter, compared to analysts' expectations of $1.14 billion. Roblox had a negative return on equity of 665.98% and a negative net margin of 25.97%. The business's revenue for the quarter was up 30.6% on a year-over-year basis. During the same quarter in the previous year, the business posted ($0.43) earnings per share. On average, sell-side analysts expect that Roblox Co. will post -1.49 earnings per share for the current year.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on RBLX shares. JPMorgan Chase & Co. upped their target price on shares of Roblox from $80.00 to $100.00 and gave the stock an "overweight" rating in a report on Tuesday, June 3rd. Canaccord Genuity Group upped their target price on shares of Roblox from $80.00 to $84.00 and gave the company a "buy" rating in a research report on Friday, May 2nd. Barclays increased their price target on shares of Roblox from $46.00 to $62.00 and gave the company an "equal weight" rating in a research report on Friday, May 2nd. Piper Sandler reiterated an "overweight" rating and issued a $105.00 price target (up from $85.00) on shares of Roblox in a research report on Thursday, June 5th. Finally, BMO Capital Markets restated an "outperform" rating and set a $95.00 target price (up from $82.00) on shares of Roblox in a report on Friday, May 30th. One investment analyst has rated the stock with a sell rating, six have given a hold rating, eighteen have assigned a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, Roblox currently has an average rating of "Moderate Buy" and an average target price of $76.09.

Hedge Funds Weigh In On Roblox

A number of large investors have recently modified their holdings of RBLX. Vanguard Group Inc. grew its stake in Roblox by 8.3% in the 1st quarter. Vanguard Group Inc. now owns 57,640,317 shares of the company's stock valued at $3,359,854,000 after purchasing an additional 4,400,624 shares during the period. FMR LLC boosted its stake in Roblox by 89.4% in the 4th quarter. FMR LLC now owns 39,658,528 shares of the company's stock worth $2,294,642,000 after purchasing an additional 18,715,837 shares during the period. Ieq Capital LLC boosted its position in shares of Roblox by 13.8% during the 1st quarter. Ieq Capital LLC now owns 18,889,973 shares of the company's stock valued at $1,101,097,000 after acquiring an additional 2,297,350 shares during the last quarter. Wealthfront Advisers LLC boosted its position in shares of Roblox by 74,400.8% during the 4th quarter. Wealthfront Advisers LLC now owns 17,335,594 shares of the company's stock valued at $1,063,365,000 after acquiring an additional 17,312,325 shares during the last quarter. Finally, AQR Capital Management LLC boosted its position in shares of Roblox by 217.4% during the 1st quarter. AQR Capital Management LLC now owns 8,770,427 shares of the company's stock valued at $504,387,000 after acquiring an additional 6,007,322 shares during the last quarter. 94.46% of the stock is currently owned by institutional investors.

About Roblox

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.