In one of the recent deals, said Mark Rienstra, the company's legal director and secretary Roblox company (NYSE:), sold shares worth about $1.43 million. The sale occurred on December 23, 2024, and involved two separate transactions. Reinstra sold 16,200 shares at an average price of $59.51 and an additional 7,800 shares at an average price of $60.24. The deal comes as Roblox trades near its 52-week high of $61.77, having gained more than 61% in the past six months. according to InvestingPro Through analysis, the stock currently appears to be fairly valued.
This activity was part of a predetermined trading plan under Rule 10b5-1, designed to allow insiders to systematically sell company stock. Following these transactions, Reinstra directly owns 278,161 shares. In addition, he exercised an option to acquire 24,000 shares at a price of $3,405 per share, for a total of $81,720. With a market capitalization of $39.26 billion, Roblox remains unprofitable over the past 12 months, despite InvestingPro Subscribers can access 12 additional key insights into the company's financial health and prospects.
The transactions reflect Reinstra's continued management of his holdings in Roblox Corp, a company known for the popular online gaming platform. Despite the current losses, analysts expect sales to continue to grow, with revenue up approximately 28% over the past year.
In other recent news, Roblox saw a significant rise in profits and revenue, along with positive analyst coverage. The company announced a 29% increase in revenue, reaching $919 million, and a 34% growth in bookings, reaching $1.13 billion. HSBC initiated coverage of Roblox with a Buy rating, citing improvements in the company's virtual world economics and positive market outlook. Similarly, Raymond (NS:) James reaffirmed its strong buy rating, while Citi and Deutsche Bank (ETR:) raised its price targets for Roblox to $63 and $60, respectively, on the heels of the company's higher-than-expected bookings and daily active user (DAU) growth. However, TD Cowen maintained a Sell rating, citing lower ratings for Roblox's top-grossing mobile platform. These latest developments highlight the ongoing changes within Roblox, as the company continues to navigate its financial landscape.
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