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Michael Guthrie, the Chief Financial Officer of Roblox Corp (NYSE:RBLX), recently sold shares worth approximately $1.72 million. This transaction, dated February 11, involved the sale of 26,154 shares of Class A common stock at an average price of $65.943 per share. The sale comes as Roblox shares have demonstrated remarkable strength, posting a 51.7% return over the past year and reaching a market capitalization of $42.6 billion.
The sale was executed to cover statutory tax withholding obligations related to the vesting of performance stock units (PSUs). These PSUs, which represent a contingent right to receive one share of Roblox’s Class A common stock, were part of a performance-based incentive plan. The transaction was part of a "sell-to-cover" strategy mandated by Roblox’s equity incentive plans and does not reflect a discretionary sale by Guthrie. According to InvestingPro data, while Roblox maintains strong growth with 28.7% revenue growth in the last twelve months, the company is currently trading above its Fair Value.
Following this transaction, Guthrie holds 417,079 shares directly and an additional 61,422 shares indirectly through the Guthrie Family Irrevocable GST Exempt Trust.
This sale follows the vesting of 112,046 PSUs on February 10, which were awarded upon the satisfaction of performance and service-based criteria, as certified by Roblox’s Leadership Development and Compensation Committee.
In other recent news, Roblox Corp. is under active investigation by the US Securities and Exchange Commission (SEC), according to details collected by Bloomberg News. The exact subject of the investigation remains unconfirmed. In financial updates, Benchmark analysts have raised their price target for Roblox from $60 to $71, maintaining a positive outlook on the company’s performance. Needham analysts have also increased their price target for Roblox, from $60 to $72, despite a recent slowdown in bookings growth.
Oppenheimer has maintained a Perform rating for Roblox following a robust fourth quarter in 2024, which saw the company surpass expectations in terms of bookings and profit. Meanwhile, Goldman Sachs has updated its stance on Roblox, increasing the price target to $63 from $55, while maintaining a Neutral rating on the shares. These recent developments reflect the ongoing financial analysis and regulatory scrutiny faced by Roblox.
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