Roblox Co. (NYSE:RBLX – Get Rating)’s share price fell 3.5% on Tuesday after an insider sold shares in the company. The company traded as low as $29.67 and last traded at $29.79. 184,270 shares traded hands during mid-day trading, a decline of 99% from the average session volume of 14,788,443 shares. The stock had previously closed at $30.88.Specifically, CAO Amy Marie Rawlings sold 2,976 shares of the stock in a transaction on Monday, November 21st. The stock was sold at an average price of $30.14, for a total value of $89,696.64. Following the completion of the sale, the chief accounting officer now owns 93,923 shares in the company, valued at approximately $2,830,839.22. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, CAO Amy Marie Rawlings sold 2,976 shares of the firm’s stock in a transaction dated Monday, November 21st. The stock was sold at an average price of $30.14, for a total transaction of $89,696.64. Following the completion of the transaction, the chief accounting officer now owns 93,923 shares in the company, valued at $2,830,839.22. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Craig Donato sold 6,776 shares of the firm’s stock in a transaction dated Wednesday, November 23rd. The shares were sold at an average price of $31.80, for a total value of $215,476.80. Following the transaction, the insider now owns 1,154,491 shares of the company’s stock, valued at approximately $36,712,813.80. The disclosure for this sale can be found here. In the last quarter, insiders sold 615,233 shares of company stock worth $19,920,813. Corporate insiders own 28.22% of the company’s stock.
Wall Street Analysts Forecast Growth
RBLX has been the subject of a number of research analyst reports. BTIG Research cut their price objective on Roblox from $58.00 to $51.00 and set a “buy” rating for the company in a research report on Thursday, October 13th. Citigroup dropped their price target on Roblox from $55.00 to $48.00 and set a “buy” rating for the company in a research report on Monday, November 21st. MKM Partners dropped their price target on Roblox from $40.00 to $35.00 in a research report on Friday, November 11th. Wolfe Research assumed coverage on Roblox in a research report on Tuesday, August 16th. They issued a “market perform” rating for the company. Finally, Barclays assumed coverage on Roblox in a research report on Tuesday, October 11th. They issued an “underweight” rating and a $20.00 price target for the company. Five analysts have rated the stock with a sell rating, nine have assigned a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $40.61.
Roblox Stock Down 3.5 %
The company’s 50 day moving average price is $37.69 and its two-hundred day moving average price is $37.76. The company has a quick ratio of 1.64, a current ratio of 1.64 and a debt-to-equity ratio of 2.33. The stock has a market cap of $16.37 billion, a P/E ratio of -23.39 and a beta of 1.87.
Institutional Trading of Roblox
Several institutional investors and hedge funds have recently modified their holdings of the stock. Renaissance Technologies LLC increased its holdings in Roblox by 161.0% during the second quarter. Renaissance Technologies LLC now owns 11,580,582 shares of the company’s stock valued at $380,538,000 after buying an additional 7,143,300 shares during the period. Baillie Gifford & Co. increased its holdings in Roblox by 88.5% during the second quarter. Baillie Gifford & Co. now owns 14,783,016 shares of the company’s stock valued at $485,770,000 after buying an additional 6,941,347 shares during the period. Vanguard Group Inc. increased its holdings in Roblox by 29.2% during the third quarter. Vanguard Group Inc. now owns 28,303,428 shares of the company’s stock valued at $1,014,396,000 after buying an additional 6,396,902 shares during the period. State Street Corp increased its holdings in Roblox by 2,473.0% during the second quarter. State Street Corp now owns 6,586,856 shares of the company’s stock valued at $216,444,000 after buying an additional 6,330,861 shares during the period. Finally, BlackRock Inc. increased its holdings in Roblox by 46.2% during the third quarter. BlackRock Inc. now owns 18,567,578 shares of the company’s stock valued at $665,464,000 after buying an additional 5,870,164 shares during the period. Institutional investors own 69.35% of the company’s stock.
Roblox Company Profile
Roblox Corporation develops and operates an online entertainment platform. The company 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 digital world; Roblox Education for learning experiences; and Roblox Cloud, which provides services and infrastructure that power the human co-experience platform.