Roblox chief product officer sells $2.79 million in stock

In recent transactions filed with the Securities and Exchange Commission, Manuel Bronstein, Chief Product Officer at Roblox Corp (NYSE:RBLX), reported significant stock sales. On February 20, 2025, Bronstein sold a total of 45,519 shares of Class A Common Stock, yielding approximately $2.79 million. The shares were sold at prices ranging from $61.33 to $61.94 per share. The sales come as Roblox, currently valued at $40.7 billion, has seen its stock surge 38% over the past six months, despite a recent 7.6% pullback last week. According to InvestingPro, analysts remain optimistic about the company’s prospects, with multiple upward earnings revisions for the upcoming period.

These sales were part of a "sell to cover" transaction to meet tax withholding obligations related to the vesting of restricted stock units (RSUs). Following these transactions, Bronstein retains ownership of 613,650 shares of Roblox stock.

Additionally, smaller transactions were noted, including sales totaling $1,057 at prices between $27.48 and $71.85, and purchases totaling $1,266 at prices between $25.66 and $75.37. These transactions were inadvertently executed by a third party managing Bronstein’s direct indexing account.

In other recent news, Roblox Corp. reported fourth-quarter results that met consensus estimates for net bookings and surpassed expectations for adjusted EBITDA. However, daily active users did not meet projections, and the company’s 2025 bookings guidance fell slightly short of analyst expectations. In light of these developments, Citi adjusted its price target for Roblox from $82 to $78, maintaining a Buy rating. Meanwhile, Benchmark raised its price target to $71 from $60, citing strong growth in mobile and desktop bookings and a positive outlook for 2025. Needham also increased its price target to $72, maintaining a Buy rating but noted a slowdown in bookings growth, suggesting a cautious approach to medium-term margin expansion.

Additionally, Roblox is under investigation by the US Securities and Exchange Commission (SEC), as confirmed by Bloomberg News. The SEC’s ongoing probe was revealed through a Freedom of Information Act request, although specific details of the investigation remain undisclosed. Despite the investigation, Oppenheimer maintained a Perform rating for Roblox, following a strong fourth quarter that saw a 19% increase in daily active users and a 54% rise in free cash flow. The firm highlighted the company’s operational efficiency and monetization efforts as drivers of financial improvement. Investors will continue to monitor these developments as Roblox navigates its strategic goals and market challenges.

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