Manuel Bronstein Sells 10,492 Shares of Roblox Co. (NYSE:RBLX) Stock

Roblox Co. (NYSE:RBLX) insider Manuel Bronstein sold 10,492 shares of Roblox stock in a transaction that occurred on Friday, November 22nd. The stock was sold at an average price of $49.45, for a total transaction of $518,829.40. Following the completion of the transaction, the insider now owns 618,154 shares of the company’s stock, valued at $30,567,715.30. This represents a 1.67 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

Manuel Bronstein also recently made the following trade(s):

• On Monday, November 4th, Manuel Bronstein sold 37,846 shares of Roblox stock. The shares were sold at an average price of $52.03, for a total transaction of $1,969,127.38.
• On Wednesday, September 11th, Manuel Bronstein sold 15,380 shares of Roblox stock. The shares were sold at an average price of $45.00, for a total value of $692,100.00.
• On Monday, September 9th, Manuel Bronstein sold 40,739 shares of Roblox stock. The stock was sold at an average price of $45.00, for a total value of $1,833,255.00.

Roblox Price Performance

Shares of RBLX opened at $49.37 on Friday. Roblox Co. has a 1 year low of $29.55 and a 1 year high of $55.10. 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 company’s fifty day moving average is $46.21 and its two-hundred day moving average is $41.27.

Roblox (NYSE:RBLX) last posted its quarterly 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 net margin of 30.90% and a negative return on equity of 986.36%. The firm had revenue of $919.00 million during the quarter, compared to analysts’ expectations of $1.02 billion. During the same period in the prior year, the company posted ($0.45) earnings per share. The firm’s revenue for the quarter was up 9.5% on a year-over-year basis. On average, analysts forecast that Roblox Co. will post -1.56 earnings per share for the current fiscal year.

Institutional Trading of Roblox

A number of institutional investors have recently modified their holdings of the business. V Square Quantitative Management LLC purchased a new stake in shares of Roblox during the 3rd quarter worth $27,000. Frazier Financial Advisors LLC lifted its stake in shares of Roblox by 20,800.0% in the third quarter. Frazier Financial Advisors LLC now owns 627 shares of the company’s stock valued at $28,000 after purchasing an additional 624 shares during the period. PARK CIRCLE Co purchased a new stake in Roblox during the second quarter worth about $30,000. Strategic Financial Concepts LLC acquired a new position in Roblox during the second quarter worth about $33,000. Finally, Gilliland Jeter Wealth Management LLC increased its holdings in Roblox by 102.4% in the second quarter. Gilliland Jeter Wealth Management LLC now owns 1,000 shares of the company’s stock valued at $37,000 after buying an additional 506 shares in the last quarter. 91.08% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on RBLX. Morgan Stanley raised Roblox from an “equal weight” rating to an “overweight” rating and raised their target price for the stock from $38.00 to $65.00 in a research report on Monday, November 4th. Canaccord Genuity Group raised their price objective on shares of Roblox from $50.00 to $60.00 and gave the stock a “buy” rating in a report on Friday, November 1st. JPMorgan Chase & Co. boosted their price objective on shares of Roblox from $51.00 to $62.00 and gave the stock an “overweight” rating in a research report on Friday, November 1st. Wells Fargo & Company increased their target price on shares of Roblox from $54.00 to $58.00 and gave the company an “overweight” rating in a research report on Friday, November 1st. Finally, Piper Sandler boosted their price target on shares of Roblox from $54.00 to $65.00 and gave the company an “overweight” rating in a research report on Friday, November 1st. Seven analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus 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.