BofA update shows where active managers are putting money
David Baszucki, the President and CEO of Roblox Corp (NYSE:RBLX), recently sold a significant portion of his holdings in the company. According to a recent SEC filing, Baszucki sold a total of 248,568 shares of Class A Common Stock on March 3, 2025. The shares were sold at an average price of $64.9417, generating approximately $16.1 million. The transaction comes as Roblox, now valued at $42.2 billion, has seen its stock surge 44.8% over the past six months, according to InvestingPro data.
In addition to the sales, Baszucki exercised stock options to acquire 195,068 shares at a price of $0.53 per share. These transactions were part of a pre-arranged trading plan under Rule 10b5-1, which allows company insiders to set up a predetermined plan for buying or selling stock.
Some of the shares were also transferred as gifts to charitable organizations and trusts, with no monetary value recorded for these transactions. Following these activities, Baszucki’s direct and indirect holdings in Roblox were adjusted accordingly.
Roblox, known for its online gaming platform, continues to be a prominent player in the tech industry, and insider transactions such as these are closely watched by investors for potential insights into the company’s future prospects. The company has demonstrated robust growth with revenue increasing 28.7% over the last twelve months, though analysts suggest the company may not achieve profitability this year. For deeper insights into Roblox’s valuation and growth prospects, investors can access the comprehensive Pro Research Report available on InvestingPro.
In other recent news, Roblox Corp. reported its fourth-quarter 2024 results, with net bookings aligning with consensus estimates and adjusted EBITDA surpassing Wall Street expectations. However, the company’s daily active users fell short of projections, and its 2025 bookings guidance was slightly below analyst expectations. Benchmark analysts raised their price target for Roblox to $71, citing a 27% increase in mobile and desktop bookings and a solid financial performance in FY 2024. Needham analysts also increased their price target to $72, despite noting a slowdown in bookings growth, and maintained a Buy rating due to the company’s robust underlying trends.
Citi analysts revised their price target for Roblox to $78 from $82 while maintaining a Buy rating, reflecting a nuanced view of the company’s near-term financial trajectory. In contrast, Oppenheimer maintained a Perform rating after a strong Q4, highlighting a 19% year-over-year increase in daily active users and a 54% rise in free cash flow. Meanwhile, Roblox is under investigation by the US Securities and Exchange Commission, as confirmed by Bloomberg News. The exact subject of the investigation remains unconfirmed, and Roblox has not commented on the matter.
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