Roblox Corp Chief Legal Officer Mark Reinstra Sells $1.43M worth of stock By Investing.com
In a recent transaction, Mark Reinstra, Chief Legal Officer and Corporate Secretary Roblox Corp (NYSE: ), sold approximately $1.43 million worth of stock. The sale took place 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 transaction comes as Roblox is trading near its 52-week high of $61.77, having gained more than 61% over the past six months. According to InvestingPro analysis, the stock appears to be fairly valued at the moment.
This activity was part of a pre-determined Rule 10b5-1 trading plan designed to enable insiders to sell company stock in a systematic manner. Following these transactions, Reinstra directly holds 278,161 shares. In addition, he exercised an option to purchase 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 twelve months, although InvestingPro subscribers can access 12 additional key insights into the company’s financial health and outlook.
The transactions reflect Reinstra’s ongoing management of its stake in Roblox Corp, the company known for its popular online gaming platform. Despite the current losses, analysts expect continued sales growth, with revenues up nearly 28% over the past year.
In other recent news, Roblox Corporation is seeing a significant increase in earnings and revenue, along with favorable analyst coverage. The company reported a 29% increase in revenue, reaching $919 million, and a 34% increase in bookings, reaching $1.13 billion. HSBC initiated coverage on Roblox with a Buy rating, citing improvements in the company’s virtual world economy and a positive market outlook. Similarly, Raymond (NS:) James reaffirmed a Strong Buy rating, while Citi and Deutsche Bank (ETR: ) raised their price targets for Roblox to $63 and $60, respectively, following the company’s bookings and stronger-than-expected daily active user (DAU) growth. However, TD Cowen maintained a sell rating, citing a decline in Roblox’s ranking as the top-grossing mobile platform. These recent events highlight the ongoing changes within Roblox as the company continues to navigate its financial landscape.
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