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

Roblox Co. (NYSE:RBLX) insider Arvind Chakravarthy sold 14,269 shares of the firm’s stock in a transaction dated Tuesday, November 26th. The shares were sold at an average price of $49.43, for a total value of $705,316.67. Following the completion of the sale, the insider now owns 244,803 shares of the company’s stock, valued at approximately $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 can be accessed through the SEC website.

Roblox Trading Down 0.2 %

NYSE RBLX traded down $0.10 during trading on Tuesday, hitting $49.06. The company had a trading volume of 6,918,249 shares, compared to its average volume of 7,633,297. The company’s fifty day moving average is $46.13 and its 200-day moving average is $41.22. The company has a market cap of $29.81 billion, a price-to-earnings ratio of -29.91 and a beta of 1.56. The company has a current ratio of 0.98, a quick 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 announced its earnings results on Thursday, October 31st. The company reported ($0.37) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.39) by $0.02. Roblox had a negative return on equity of 986.36% and a negative net margin of 30.90%. The firm had revenue of $919.00 million during the quarter, compared to analyst estimates of $1.02 billion. During the same quarter in the prior year, the company earned ($0.45) EPS. The business’s revenue was up 9.5% compared to the same quarter last year. On average, sell-side analysts predict that Roblox Co. will post -1.56 earnings per share for the current year.

Analysts Set New Price Targets

RBLX has been the subject of several recent research reports. The Goldman Sachs Group boosted their price objective on Roblox from $45.00 to $55.00 and gave the company a “neutral” rating in a report on Friday, November 1st. Macquarie increased their price target on Roblox from $50.00 to $58.00 and gave the company an “outperform” rating in a research 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 stock an “overweight” rating in a report on Friday, November 1st. Barclays lifted their target price on shares of Roblox from $40.00 to $50.00 and gave the stock an “equal weight” rating in a research note on Friday, November 1st. Finally, BTIG Research raised their target price on Roblox from $51.00 to $56.00 and gave the stock a “buy” rating in a research note on Friday, November 1st. Seven analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $55.30.

Hedge Funds Weigh In On Roblox

Large investors have recently made changes to their positions in the business. Impact Partnership Wealth LLC boosted its holdings in Roblox by 3.8% in the third quarter. Impact Partnership Wealth LLC now owns 6,730 shares of the company’s stock worth $298,000 after purchasing an additional 245 shares during the last quarter. Swedbank AB raised its position in Roblox by 0.5% in the second quarter. Swedbank AB now owns 53,297 shares of the company’s stock worth $1,983,000 after acquiring an additional 285 shares during the period. Metis Global Partners LLC grew its position in shares of Roblox by 5.0% during the 3rd quarter. Metis Global Partners LLC now owns 6,003 shares of the company’s stock valued at $266,000 after acquiring an additional 288 shares during the period. Thrive Wealth Management LLC raised its holdings in Roblox by 4.3% in the 2nd quarter. Thrive Wealth Management LLC now owns 7,358 shares of the company’s stock worth $274,000 after purchasing an additional 300 shares during the period. Finally, Oppenheimer & Co. Inc. grew its holdings in Roblox by 5.0% during the third quarter. Oppenheimer & Co. Inc. now owns 6,691 shares of the company’s stock valued at $296,000 after purchasing an additional 321 shares during the period. 91.08% of the stock is currently owned by hedge funds and other 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.