Insider Selling: Roblox Co. (NYSE:RBLX) CEO Sells 687,500 Shares of Stock

Roblox Co. (NYSE:RBLX - Get Free Report) CEO David Baszucki sold 687,500 shares of the business's stock in a transaction on Monday, June 2nd. The stock was sold at an average price of $87.97, for a total value of $60,479,375.00. Following the completion of the sale, the chief executive officer now directly owns 211,559 shares in the company, valued at $18,610,845.23. This represents a 76.47% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link.

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

• On Monday, June 2nd, David Baszucki sold 262,498 shares of Roblox stock. The shares were sold at an average price of $87.97, for a total transaction of $23,091,949.06.
• On Tuesday, May 20th, David Baszucki sold 10,424 shares of Roblox stock. The stock was 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 shares were sold at an average price of $74.44, for a total value of $3,355,308.56.
• On Monday, May 12th, David Baszucki sold 118,051 shares of Roblox stock. The shares were sold at an average price of $74.44, for a total value 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 value 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.
• On Monday, March 17th, David Baszucki sold 34,099 shares of Roblox stock. The stock was sold at an average price of $57.05, for a total transaction of $1,945,347.95.

Roblox Stock Up 1.8%

Shares of NYSE:RBLX traded up $1.74 during trading on Friday, hitting $95.94. 9,670,077 shares of the company's stock traded hands, compared to its average volume of 7,817,774. 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 company has a 50-day moving average price of $70.28 and a 200-day moving average price of $63.95. Roblox Co. has a 52 week low of $34.41 and a 52 week high of $96.24. The company has a market cap of $65.07 billion, a price-to-earnings ratio of -66.12 and a beta of 1.56.

Roblox (NYSE:RBLX - Get Free Report) last announced its quarterly earnings results on Thursday, May 1st. The company reported ($0.32) earnings per share 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 analyst estimates of $1.14 billion. Roblox had a negative net margin of 25.97% and a negative return on equity of 665.98%. The business's revenue was up 30.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.43) earnings per share. As a group, research analysts forecast that Roblox Co. will post -1.49 EPS for the current fiscal year.

Analyst Ratings Changes

Several research firms have commented on RBLX. Wells Fargo & Company upped their price target on Roblox from $70.00 to $78.00 and gave the company an "overweight" rating in a report on Friday, May 2nd. Piper Sandler restated an "overweight" rating and issued a $105.00 price objective (up previously from $85.00) on shares of Roblox in a research report on Thursday. FBN Securities started coverage on shares of Roblox in a research note on Friday, March 28th. They set a "sector perform" rating and a $65.00 price target on the stock. Needham & Company LLC restated a "buy" rating on shares of Roblox in a research report on Friday, May 2nd. Finally, Moffett Nathanson cut Roblox from a "neutral" rating to a "sell" rating and set a $34.00 target price for the company. in a research note on Friday, February 7th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, eighteen have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Roblox currently has a consensus rating of "Moderate Buy" and a consensus target price of $74.91.

Institutional Investors Weigh In On Roblox

Several institutional investors have recently added to or reduced their stakes in the stock. Chicago Partners Investment Group LLC bought a new stake in shares of Roblox in the fourth quarter valued at about $363,000. Silicon Valley Capital Partners raised its position in Roblox by 3,010.0% in the 4th quarter. Silicon Valley Capital Partners now owns 69,104 shares of the company's stock valued at $3,998,000 after buying an additional 66,882 shares during the last quarter. V Square Quantitative Management LLC boosted its position in Roblox by 320.0% during the 4th quarter. V Square Quantitative Management LLC now owns 2,587 shares of the company's stock worth $149,000 after acquiring an additional 1,971 shares during the last quarter. Amundi boosted its position in Roblox by 111.4% during the 4th quarter. Amundi now owns 3,191,137 shares of the company's stock worth $198,010,000 after acquiring an additional 1,681,263 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. raised its holdings in shares of Roblox by 101.7% in 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 purchasing an additional 355,270 shares during the last quarter. 94.46% of the stock is 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.