Roblox (NYSE:RBLX) CFO Naveen Chopra Sells 17,509 Shares

Roblox Corporation (NYSE:RBLX) CFO Naveen Chopra sold 17,509 shares of Roblox stock in a transaction that occurred on Thursday, August 20th. The stock was sold at an average price of $37.96, for a total value of $664,641.64. Following the completion of the transaction, the chief financial officer owned 363,249 shares of the company’s stock, valued at approximately $13,788,932.04. The trade was a 4.60% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Roblox Stock Performance

Shares of NYSE RBLX traded up $0.33 during trading on Monday, reaching $38.70. The stock had a trading volume of 8,331,997 shares, compared to its average volume of 11,929,390. The company has a debt-to-equity ratio of 7.82, a quick ratio of 0.82 and a current ratio of 0.82. The stock has a market cap of $25.93 billion, a PE ratio of -27.06 and a beta of 1.46. Roblox Corporation has a one year low of $33.88 and a one year high of $142.00. The firm’s 50 day moving average price is $47.11 and its two-hundred day moving average price is $52.57.

Roblox (NYSE:RBLX) last announced its quarterly earnings data on Thursday, July 30th. The company reported ($0.26) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.34) by $0.08. Roblox had a negative return on equity of 292.85% and a negative net margin of 17.60%.The firm had revenue of $1.47 billion for the quarter, compared to analysts’ expectations of $1.60 billion. During the same period last year, the business posted ($0.41) earnings per share. The firm’s revenue for the quarter was up 8.3% on a year-over-year basis. On average, research analysts forecast that Roblox Corporation will post -1.39 earnings per share for the current fiscal year.

Roblox declared that its board has initiated a share buyback program on Tuesday, May 19th that allows the company to repurchase $3.00 billion in outstanding shares. This repurchase authorization allows the company to repurchase up to 9.5% of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s board believes its stock is undervalued.

Institutional Investors Weigh In On Roblox

Several hedge funds and other institutional investors have recently bought and sold shares of RBLX. Hanson & Doremus Investment Management acquired a new stake in Roblox during the first quarter valued at approximately $25,000. Fideuram Asset Management Ireland dac acquired a new position in Roblox in the fourth quarter worth approximately $27,000. Basecamp Wealth Advisors LLC increased its holdings in shares of Roblox by 98.8% in the first quarter. Basecamp Wealth Advisors LLC now owns 507 shares of the company’s stock valued at $29,000 after buying an additional 252 shares in the last quarter. GW&K Investment Management LLC increased its holdings in shares of Roblox by 76.3% in the fourth quarter. GW&K Investment Management LLC now owns 372 shares of the company’s stock valued at $30,000 after buying an additional 161 shares in the last quarter. Finally, Root Financial Partners LLC lifted its position in shares of Roblox by 100.7% during the 1st quarter. Root Financial Partners LLC now owns 564 shares of the company’s stock valued at $32,000 after acquiring an additional 283 shares during the last quarter. 94.46% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the stock. Needham & Company LLC lowered their price objective on shares of Roblox from $60.00 to $50.00 and set a “buy” rating for the company in a research report on Friday, July 31st. B. Riley Financial cut their target price on shares of Roblox from $80.00 to $45.00 and set a “buy” rating on the stock in a report on Monday, August 3rd. Wedbush lowered Roblox from an “outperform” rating to a “neutral” rating and lowered their target price for the company from $65.00 to $40.00 in a report on Friday, July 31st. Wells Fargo & Company set a $46.00 price objective on Roblox in a research note on Monday, August 3rd. Finally, Barclays dropped their price target on shares of Roblox from $60.00 to $47.00 and set an “equal weight” rating on the stock in a research note on Monday, August 3rd. One analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, fifteen have issued a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat.com, Roblox presently has an average rating of “Hold” and a consensus target price of $60.89.

About Roblox

Roblox Corporation operates Roblox, a user-generated online platform that enables people to create, share and monetize immersive 3D experiences and games. The core offering centers on Roblox Studio, a development environment that allows independent creators and studios to design interactive worlds using the company’s building tools and scripting language. Content on the platform spans games, virtual hangouts, branded experiences and live events, all delivered through a persistent social environment.

Roblox’s business model is built around its virtual economy and creator ecosystem.