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

Roblox Co. (NYSE:RBLX) insider Arvind Chakravarthy sold 14,269 shares of the stock in a transaction dated Tuesday, November 26th. The stock was sold at an average price of $49.43, for a total value of $705,316.67. Following the transaction, the insider now owns 244,803 shares in the company, valued at $12,100,612.29. This trade represents a 5.51 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

Roblox Price Performance

Shares of Roblox stock opened at $49.06 on Wednesday. The company has a debt-to-equity ratio of 5.64, a current ratio of 0.98 and a quick ratio of 0.98. The business has a 50-day moving average price of $46.13 and a 200 day moving average price of $41.22. Roblox Co. has a fifty-two week low of $29.55 and a fifty-two week high of $55.10.

Roblox (NYSE:RBLX) last issued its quarterly earnings results on Thursday, October 31st. The company reported ($0.37) earnings per share for the quarter, beating analysts’ consensus estimates 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 business had revenue of $919.00 million during the quarter, compared to the consensus estimate of $1.02 billion. During the same period in the previous year, the business earned ($0.45) EPS. The business’s quarterly revenue was up 9.5% on a year-over-year basis. On average, analysts predict that Roblox Co. will post -1.56 EPS for the current fiscal year.

Institutional Investors Weigh In On Roblox

Several institutional investors and hedge funds have recently bought and sold shares of RBLX. ValueAct Holdings L.P. grew its holdings in shares of Roblox by 340.7% during the third quarter. ValueAct Holdings L.P. now owns 10,135,921 shares of the company’s stock valued at $448,616,000 after purchasing an additional 7,835,921 shares during the last quarter. FMR LLC boosted its position in Roblox by 24.5% during the 3rd quarter. FMR LLC now owns 20,942,691 shares of the company’s stock valued at $926,924,000 after purchasing an additional 4,115,286 shares during the period. Dragoneer Investment Group LLC grew its stake in Roblox by 26.9% during the 2nd quarter. Dragoneer Investment Group LLC now owns 11,745,203 shares of the company’s stock worth $437,039,000 after buying an additional 2,488,044 shares during the last quarter. Whale Rock Capital Management LLC acquired a new stake in Roblox in the third quarter worth $107,491,000. Finally, Greenvale Capital LLP bought a new stake in Roblox in the second quarter valued at $89,304,000. Institutional investors and hedge funds own 91.08% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the stock. Citigroup increased their price objective on shares of Roblox from $53.00 to $63.00 and gave the stock a “buy” rating in a report on Tuesday, November 5th. Wedbush reissued an “outperform” rating and set a $49.00 price objective on shares of Roblox in a research note on Friday, October 25th. Morgan Stanley raised Roblox from an “equal weight” rating to an “overweight” rating and increased their target price for the stock from $38.00 to $65.00 in a research report on Monday, November 4th. Canaccord Genuity Group boosted their price target on Roblox from $50.00 to $60.00 and gave the company a “buy” rating in a research report on Friday, November 1st. Finally, Wells Fargo & Company raised their price objective on Roblox from $54.00 to $58.00 and gave the stock an “overweight” rating in a report on Friday, November 1st. Seven equities research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $55.30.

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.