Gregory Baszucki Sells 16,666 Shares of Roblox (NYSE:RBLX) Stock

Roblox Corporation (NYSE:RBLX) Director Gregory Baszucki sold 16,666 shares of the stock in a transaction that occurred on Tuesday, September 1st. The stock was sold at an average price of $40.47, for a total value of $674,473.02. Following the sale, the director owned 1,261,169 shares in the company, valued at $51,039,509.43. The trade was a 1.30% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• On Tuesday, August 4th, Gregory Baszucki sold 16,666 shares of Roblox stock. The stock was sold at an average price of $37.46, for a total value of $624,308.36.
• On Wednesday, July 1st, Gregory Baszucki sold 16,666 shares of Roblox stock. The shares were sold at an average price of $57.69, for a total value of $961,461.54.

Roblox Price Performance

Shares of RBLX opened at $41.32 on Friday. The company has a market cap of $27.68 billion, a P/E ratio of -28.90 and a beta of 1.47. The stock has a fifty day moving average price of $45.55 and a 200 day moving average price of $50.88. The company has a debt-to-equity ratio of 7.82, a current ratio of 0.82 and a quick ratio of 0.82. Roblox Corporation has a 12 month low of $33.88 and a 12 month high of $142.00.

Roblox (NYSE:RBLX) last posted its earnings results on Thursday, July 30th. The company reported ($0.26) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 company 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 quarterly revenue was up 8.3% compared to the same quarter last year. On average, research analysts forecast that Roblox Corporation will post -1.39 earnings per share for the current year.

Roblox announced that its board has authorized a share buyback program on Tuesday, May 19th that permits the company to repurchase $3.00 billion in outstanding shares. This repurchase authorization permits the company to buy up to 9.5% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company’s leadership believes its shares are undervalued.

Hedge Funds Weigh In On Roblox

A number of institutional investors have recently bought and sold shares of RBLX. Baird Financial Group Inc. grew its holdings in shares of Roblox by 1.4% during the second quarter. Baird Financial Group Inc. now owns 7,294 shares of the company’s stock valued at $767,000 after buying an additional 102 shares in the last quarter. Sunbelt Securities Inc. lifted its stake in Roblox by 58.7% in the 3rd quarter. Sunbelt Securities Inc. now owns 284 shares of the company’s stock worth $39,000 after acquiring an additional 105 shares in the last quarter. Brown Brothers Harriman & Co. boosted its position in Roblox by 2.8% during the 3rd quarter. Brown Brothers Harriman & Co. now owns 4,042 shares of the company’s stock worth $560,000 after acquiring an additional 110 shares during the period. NewEdge Advisors LLC boosted its position in Roblox by 1.3% during the 2nd quarter. NewEdge Advisors LLC now owns 10,374 shares of the company’s stock worth $1,091,000 after acquiring an additional 138 shares during the period. Finally, L2 Asset Management LLC grew its stake in Roblox by 5.9% during the 3rd quarter. L2 Asset Management LLC now owns 2,783 shares of the company’s stock valued at $386,000 after acquiring an additional 154 shares in the last quarter. Hedge funds and other institutional investors own 94.46% of the company’s stock.

Wall Street Analysts Forecast Growth

RBLX has been the subject of a number of analyst reports. Citigroup reduced their target price on shares of Roblox from $70.00 to $60.00 and set a “buy” rating for the company in a research note on Monday, August 3rd. Raymond James Financial started coverage on Roblox in a report on Monday, June 29th. They set a “market perform” rating on the stock. B. Riley Financial reduced their price objective on Roblox from $80.00 to $45.00 and set a “buy” rating for the company in a research report on Monday, August 3rd. Cantor Fitzgerald started coverage on Roblox in a report on Monday, June 29th. They issued an “overweight” rating for the company. Finally, Arete Research set a $95.00 target price on Roblox and gave the company a “buy” rating in a research report on Monday, June 29th. One investment analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, fifteen have given a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $60.89.

Roblox Company Profile

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.