Roblox Co. (NYSE:RBLX) Insider Arvind Chakravarthy Sells 14,269 Shares

Roblox Co. (NYSE:RBLX) insider Arvind Chakravarthy sold 14,269 shares of the stock in a transaction that occurred on Tuesday, November 26th. The shares were sold at an average price of $49.43, for a total transaction of $705,316.67. Following the completion of the sale, the insider now owns 244,803 shares in the company, valued at $12,100,612.29. This represents a 5.51 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

Roblox Price Performance

Shares of NYSE RBLX traded down $0.10 during midday trading on Tuesday, reaching $49.06. 6,918,249 shares of the company were exchanged, compared to its average volume of 7,633,297. The stock’s 50-day moving average price is $46.13 and its 200-day moving average price is $41.22. The stock has a market cap of $29.81 billion, a P/E ratio of -29.91 and a beta of 1.56. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 5.64. Roblox Co. has a one year low of $29.55 and a one year high of $55.10.

Roblox (NYSE:RBLX) last released its quarterly earnings results on Thursday, October 31st. The company reported ($0.37) earnings per share for the quarter, topping the consensus estimate of ($0.39) by $0.02. The company had revenue of $919.00 million for the quarter, compared to analysts’ expectations of $1.02 billion. Roblox had a negative return on equity of 986.36% and a negative net margin of 30.90%. The business’s quarterly revenue was up 9.5% compared to the same quarter last year. During the same period in the previous year, the business posted ($0.45) earnings per share. On average, sell-side analysts anticipate that Roblox Co. will post -1.56 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the company. Raymond James restated a “strong-buy” rating and issued a $60.00 price target on shares of Roblox in a report on Friday. Citigroup lifted their target price on Roblox from $53.00 to $63.00 and gave the company a “buy” rating in a research report on Tuesday, November 5th. Benchmark lifted their price objective on shares of Roblox from $44.00 to $60.00 and gave the company a “buy” rating in a report on Friday, November 1st. JPMorgan Chase & Co. lifted their price target on shares of Roblox from $51.00 to $62.00 and gave the company an “overweight” rating in a research note on Friday, November 1st. Finally, Wedbush reiterated an “outperform” rating and set a $49.00 target price on shares of Roblox in a report on Friday, October 25th. Seven research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $55.30.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of RBLX. Advisors Asset Management Inc. increased its position in shares of Roblox by 31.9% during the first quarter. Advisors Asset Management Inc. now owns 2,780 shares of the company’s stock worth $106,000 after buying an additional 672 shares during the period. Price T Rowe Associates Inc. MD boosted its position in shares of Roblox by 1.4% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 4,737,657 shares of the company’s stock valued at $180,885,000 after purchasing an additional 65,191 shares in the last quarter. Janus Henderson Group PLC grew its stake in Roblox by 22.7% during the first quarter. Janus Henderson Group PLC now owns 49,520 shares of the company’s stock worth $1,890,000 after purchasing an additional 9,159 shares during the period. California State Teachers Retirement System increased its holdings in Roblox by 0.8% in the first quarter. California State Teachers Retirement System now owns 669,967 shares of the company’s stock worth $25,579,000 after purchasing an additional 5,621 shares in the last quarter. Finally, Motley Fool Asset Management LLC lifted its stake in Roblox by 10.8% in the first quarter. Motley Fool Asset Management LLC now owns 18,636 shares of the company’s stock valued at $712,000 after buying an additional 1,812 shares during the period. 91.08% of the stock is owned by institutional investors and hedge funds.

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.