Roblox (NYSE:RBLX) Shares Down 7.9% After Insider Selling

Roblox Co. (NYSE:RBLX - Get Free Report)'s share price traded down 7.9% on Friday after an insider sold shares in the company. The stock traded as low as $54.18 and last traded at $53.97. 4,352,132 shares traded hands during mid-day trading, a decline of 42% from the average session volume of 7,532,069 shares. The stock had previously closed at $58.57.

Specifically, CFO Michael Guthrie sold 50,000 shares of Roblox stock in a transaction on Tuesday, March 4th. The stock was sold at an average price of $60.14, for a total transaction of $3,007,000.00. Following the completion of the sale, the chief financial officer now owns 395,465 shares of the company's stock, valued at approximately $23,783,265.10. This trade represents a 11.22 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Christopher Carvalho sold 12,986 shares of Roblox stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $63.57, for a total value of $825,520.02. Following the sale, the director now directly owns 982,412 shares of the company's stock, valued at approximately $62,451,930.84. The trade was a 1.30 % decrease in their position. The disclosure for this sale can be found here. In related news, CEO David Baszucki sold 195,068 shares of Roblox stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $64.94, for a total transaction of $12,667,715.92. Following the completion of the sale, the chief executive officer now owns 122,853 shares of the company's stock, valued at approximately $7,978,073.82. This trade represents a 61.36 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

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Analyst Upgrades and Downgrades

RBLX has been the subject of a number of analyst reports. OTR Global raised Roblox from a "mixed" rating to a "positive" rating in a research report on Monday, February 3rd. Citigroup boosted their price target on Roblox from $63.00 to $82.00 and gave the stock a "buy" rating in a research report on Monday, February 3rd. Moffett Nathanson cut Roblox from a "neutral" rating to a "sell" rating and set a $34.00 price target for the company. in a research report on Friday, February 7th. Piper Sandler reaffirmed an "overweight" rating and issued a $72.00 price target (up previously from $65.00) on shares of Roblox in a research report on Tuesday, January 28th. Finally, Morgan Stanley boosted their price target on Roblox from $65.00 to $75.00 and gave the stock an "overweight" rating in a research report on Monday, January 13th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $64.19.

Roblox Stock Down 2.3 %

The firm's 50-day simple moving average is $64.23 and its 200 day simple moving average is $53.99. The company has a market cap of $35.43 billion, a P/E ratio of -39.48 and a beta of 1.49. The company has a debt-to-equity ratio of 4.82, a quick ratio of 0.98 and a current ratio of 1.02.

Roblox (NYSE:RBLX - Get Free Report) last issued its earnings results on Thursday, February 6th. The company reported ($0.33) EPS for the quarter, beating the consensus estimate of ($0.46) by $0.13. Roblox had a negative net margin of 25.97% and a negative return on equity of 665.98%. On average, research analysts forecast that Roblox Co. will post -1.49 earnings per share for the current fiscal year.

Institutional Trading of Roblox

Institutional investors and hedge funds have recently made changes to their positions in the business. Frazier Financial Advisors LLC increased its position in shares of Roblox by 20,800.0% in the 3rd quarter. Frazier Financial Advisors LLC now owns 627 shares of the company's stock valued at $28,000 after buying an additional 624 shares in the last quarter. Versant Capital Management Inc increased its position in shares of Roblox by 83.9% in the 4th quarter. Versant Capital Management Inc now owns 524 shares of the company's stock valued at $30,000 after buying an additional 239 shares in the last quarter. Gordian Capital Singapore Pte Ltd increased its position in shares of Roblox by 74.8% in the 4th quarter. Gordian Capital Singapore Pte Ltd now owns 561 shares of the company's stock valued at $32,000 after buying an additional 240 shares in the last quarter. Colonial Trust Co SC bought a new stake in shares of Roblox in the 4th quarter valued at $41,000. Finally, Parkside Financial Bank & Trust increased its position in shares of Roblox by 44.5% in the 4th quarter. Parkside Financial Bank & Trust now owns 747 shares of the company's stock valued at $43,000 after buying an additional 230 shares in the last quarter. Institutional investors own 94.46% of the company's stock.

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.