Investors Purchase Large Volume of Put Options on Roblox (NYSE:RBLX)

Roblox Co. (NYSE:RBLX) saw unusually large options trading activity on Tuesday. Stock investors purchased 105,281 put options on the company. This represents an increase of approximately 213% compared to the average daily volume of 33,607 put options.

Insider Buying and Selling

In other news, CEO David Baszucki sold 166,668 shares of the stock in a transaction dated Friday, July 12th. The stock was sold at an average price of $40.21, for a total value of $6,701,720.28. Following the transaction, the chief executive officer now owns 142,260 shares in the company, valued at approximately $5,720,274.60. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, CEO David Baszucki sold 166,668 shares of the business’s stock in a transaction on Friday, July 12th. The shares were sold at an average price of $40.21, for a total value of $6,701,720.28. Following the completion of the sale, the chief executive officer now directly owns 142,260 shares of the company’s stock, valued at $5,720,274.60. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Gregory Baszucki sold 13,000 shares of the firm’s stock in a transaction dated Wednesday, September 25th. The stock was sold at an average price of $47.75, for a total value of $620,750.00. Following the transaction, the director now directly owns 9,662,103 shares in the company, valued at approximately $461,365,418.25. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 762,341 shares of company stock worth $32,788,526 over the last 90 days. 22.15% of the stock is owned by insiders.

Hedge Funds Weigh In On Roblox

A number of institutional investors and hedge funds have recently bought and sold shares of RBLX. Vanguard Group Inc. boosted its holdings in shares of Roblox by 10.4% in the first quarter. Vanguard Group Inc. now owns 51,082,302 shares of the company’s stock valued at $1,950,322,000 after acquiring an additional 4,818,022 shares in the last quarter. Ieq Capital LLC lifted its position in Roblox by 27.6% in the first quarter. Ieq Capital LLC now owns 12,409,924 shares of the company’s stock worth $473,811,000 after purchasing an additional 2,684,713 shares during the period. Dragoneer Investment Group LLC increased its position in shares of Roblox by 26.9% during the 2nd quarter. Dragoneer Investment Group LLC now owns 11,745,203 shares of the company’s stock valued at $437,039,000 after purchasing an additional 2,488,044 shares during the period. Greenvale Capital LLP bought a new stake in shares of Roblox in the 2nd quarter worth $89,304,000. Finally, Marshall Wace LLP acquired a new stake in shares of Roblox in the second quarter valued at $87,543,000. Institutional investors own 91.08% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently commented on RBLX. Barclays upped their price objective on Roblox from $35.00 to $40.00 and gave the stock an “equal weight” rating in a report on Friday, August 2nd. BMO Capital Markets restated an “outperform” rating and set a $56.00 price objective on shares of Roblox in a report on Tuesday, July 30th. Wedbush reiterated an “outperform” rating and issued a $46.00 target price on shares of Roblox in a report on Monday, July 29th. Roth Mkm raised their target price on shares of Roblox from $35.00 to $42.00 and gave the company a “neutral” rating in a research note on Monday, July 29th. Finally, The Goldman Sachs Group increased their price target on Roblox from $38.00 to $45.00 and gave the company a “neutral” rating in a report on Friday, August 2nd. Eight investment 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. According to data from MarketBeat.com, Roblox currently has an average rating of “Moderate Buy” and an average target price of $44.81.

Roblox Stock Performance

RBLX traded down $1.67 during trading on Tuesday, reaching $39.72. 18,523,417 shares of the company were exchanged, compared to its average volume of 7,262,425. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 9.04. The stock has a market cap of $23.49 billion, a P/E ratio of -22.25 and a beta of 1.60. Roblox has a 52 week low of $29.55 and a 52 week high of $48.43. The firm has a 50 day moving average of $42.62 and a 200 day moving average of $38.74.

Roblox (NYSE:RBLX) last released its quarterly earnings data on Thursday, August 1st. The company reported ($0.32) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.39) by $0.07. Roblox had a negative net margin of 34.12% and a negative return on equity of 1,187.59%. The business had revenue of $893.50 million for the quarter, compared to analysts’ expectations of $897.88 million. During the same quarter last year, the company earned ($0.46) EPS. The company’s revenue for the quarter was up 31.2% compared to the same quarter last year. On average, sell-side analysts forecast that Roblox will post -1.59 EPS for the current fiscal year.

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.