Roblox chief legal officer sells $1.29 million in stock

Mark Reinstra, the Chief Legal Officer and Corporate Secretary of Roblox Corp (NYSE:RBLX), recently sold a significant portion of his company stock, according to a recent SEC filing. The transaction comes as Roblox shares have shown remarkable strength, delivering a 51.7% return over the past year. According to InvestingPro data, the company maintains a FAIR financial health rating with strong growth momentum. On February 11, Reinstra sold 19,525 shares of Roblox’s Class A Common Stock at an average price of $65.944 per share. This transaction amounted to approximately $1.29 million.

The sale was conducted to cover statutory tax withholding obligations related to the vesting of performance stock units. Following this transaction, Reinstra holds 339,206 shares directly. Additionally, he has indirect ownership of shares held in various trusts, including the San Domenico Trust and the Mark L. Reinstra 2022 and 2023 Annuity Trusts.

In other recent news, Roblox Corp. is currently under investigation by the US Securities and Exchange Commission (SEC), as reported by Bloomberg News. The exact subject of the investigation remains undisclosed, with both Roblox Corp. and the SEC refraining from further comments. On the financial front, analyst firms have recently adjusted their outlook on the company. Benchmark analysts have raised their price target for Roblox to $71, maintaining a Buy rating and highlighting the company’s solid financial performance and ambitious targets for 2025. Needham analysts have also increased their price target for Roblox to $72, expressing optimism about the company’s future performance. However, they have adjusted their expectations regarding Roblox’s medium-term margin expansion. Oppenheimer has affirmed a Perform rating for Roblox, following a robust fourth quarter in 2024, while Goldman Sachs has increased the price target to $63, maintaining a Neutral rating. These developments provide valuable insights for investors into recent events surrounding Roblox Corp.

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