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Michael Guthrie, Chief Financial Officer of Roblox Corp (NYSE:RBLX), recently sold shares totaling $2.94 million, according to a regulatory filing. The transactions, which took place on April 3, involved the sale of 49,000 shares at prices ranging from $58.636 to $59.1115 per share. This move was part of a pre-arranged trading plan under Rule 10b5-1. The sale comes as Roblox shares have experienced a 9% decline over the past week, though the stock remains up nearly 28% over the last six months. InvestingPro data shows the company maintains a substantial market capitalization of $34.8 billion.
In addition to the sales, Guthrie exercised options to acquire 50,000 shares of Class A Common Stock at a price of $0.53 per share, resulting in a total value of $26,500. Following these transactions, Guthrie holds direct ownership of 516,434 shares, with additional shares held indirectly through a family trust. Want deeper insights into Roblox's insider trading patterns and financial health? InvestingPro subscribers get access to comprehensive analysis and real-time alerts on insider transactions.
These transactions are part of Guthrie's ongoing management of his holdings in the company, as indicated by the filing. The company has shown strong revenue growth of 29% in the last twelve months, and analysts anticipate continued sales growth this year. Discover more insights about Roblox's valuation and growth prospects in the detailed InvestingPro Research Report, along with 8 additional ProTips available for subscribers.
In other recent news, Roblox Corporation has introduced a new video advertising format in partnership with Google (NASDAQ:GOOGL), aiming to expand its advertising business. This move allows gamers to watch ads for in-game rewards, making the platform more appealing to advertisers. Roblox reported 85.3 million daily active users, with a significant portion being over the age of 13. The company has also partnered with data measurement firms like Cint, DoubleVerify (NYSE:DV), and Nielsen to help brands measure ad campaign effectiveness. In analyst updates, FBN Securities initiated coverage with a Sector Perform rating and a $65 price target, highlighting Roblox's robust business model. Meanwhile, BMO Capital Markets maintained an Outperform rating with a $75 target, emphasizing the platform's appeal to developers and potential for advertising revenue growth. Oppenheimer also maintained a Perform rating, noting increased user engagement during a recent event. These developments reflect Roblox's ongoing efforts to diversify revenue streams and enhance its platform's appeal to both users and advertisers.
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