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Mark Reinstra, the Chief Legal Officer and Corporate Secretary at Roblox Corp (NYSE:RBLX), recently sold 16,432 shares of the company’s Class A common stock. The shares were sold at an average price of $61.39 per share, totaling approximately $1,008,836. This transaction was part of a "sell to cover" strategy to meet tax obligations related to the vesting of Restricted Stock Units (RSUs). The sale comes as Roblox, currently valued at $40.69 billion, has delivered an impressive 50.77% return over the past year, with the stock trading near its InvestingPro Fair Value.
Following this sale, Reinstra holds 322,774 shares directly. In addition to his direct holdings, Reinstra also has indirect ownership of shares through various trusts, where he serves as trustee. These include the San Domenico Trust, the Mark L. Reinstra 2023 Annuity Trust, and the Mark L. Reinstra 2022 Annuity Trust, among others. For comprehensive insider trading analysis and more than 10 key investment tips for Roblox, visit InvestingPro, where you’ll find detailed research reports covering 1,400+ US stocks.
In other recent news, Roblox Corp. reported strong fourth-quarter results for 2024, with net bookings aligning with consensus estimates and an adjusted EBITDA exceeding Wall Street expectations. The company also experienced a 19% year-over-year increase in daily active users, reaching 85.3 million, although this fell short of analyst forecasts. Meanwhile, Roblox is under investigation by the US Securities and Exchange Commission, as confirmed by Bloomberg News, though the specifics of the probe remain undisclosed. Citi analysts revised Roblox’s price target down to $78 from $82 but maintained a Buy rating, citing the company’s ability to surpass adjusted EBITDA estimates. Benchmark analysts raised their price target for Roblox to $71, highlighting a 27% increase in mobile and desktop bookings in December and expressing confidence in the company’s long-term growth strategy. Needham also increased its price target to $72, maintaining a Buy rating despite a slowdown in bookings growth, and acknowledged Roblox’s robust underlying trends. Oppenheimer maintained a Perform rating, noting Roblox’s significant growth in Japan and India and a 54% increase in free cash flow. These developments indicate a complex landscape for Roblox, with strong financial performance juxtaposed against regulatory scrutiny.
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