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SAN MATEO, Calif.—Christopher Carvalho, a director at Roblox Corp (NYSE:RBLX), has recently sold a significant portion of the company’s stock, according to a recent SEC filing. The transaction comes as Roblox shares have surged nearly 60% over the past year, with the company now commanding a market capitalization of $38.84 billion. According to InvestingPro analysis, the stock is currently trading near its Fair Value. On April 1, Carvalho sold 12,985 shares of Roblox Class A Common Stock, valued at approximately $784,920. The shares were sold at prices ranging from $58.7982 to $60.8617.
In addition to the sales, Carvalho also executed a stock option, acquiring 12,985 shares at an exercise price of $0.063 per share. Following these transactions, Carvalho holds a total of 982,412 shares directly, with an additional 160,968 shares held indirectly through a trust.
These transactions were conducted under a pre-established Rule 10b5-1 trading plan, which was adopted by Carvalho on May 28, 2024.
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 initiative allows users to watch video ads in exchange for in-game rewards, enhancing the platform’s revenue diversification strategy. The move is part of Roblox’s broader effort to attract a wider range of advertisers and leverage its substantial Gen Z user base. Additionally, Roblox has partnered with data measurement firms like Cint, DoubleVerify (NYSE:DV), and Nielsen to help brands measure ad campaign effectiveness.
FBN Securities has initiated coverage on Roblox with a Sector Perform rating and a price target of $65. The firm highlighted Roblox’s strong business model and its potential for sustained growth within the interactive entertainment market. BMO Capital Markets also reiterated an Outperform rating with a $75 price target, emphasizing Roblox’s appeal to developers and its potential for advertising revenue growth.
Oppenheimer maintained a Perform rating for Roblox following increased user engagement during "The Hunt: Mega Edition" event. This event saw significant growth in concurrent users, indicating the platform’s expanding reach and engagement. These developments reflect Roblox’s ongoing efforts to innovate and expand its business model beyond core gaming offerings.
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