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Gregory Baszucki, a director at Roblox Corp (NYSE:RBLX), recently executed a significant stock sale, according to a filing with the Securities and Exchange Commission. On December 26, Baszucki sold 26,000 shares of Class A common stock, amounting to approximately $1.55 million. The shares were sold at prices ranging from $59.6969 to $60.02 per share. The sale comes as Roblox, now valued at $38.47 billion, trades near its 52-week high of $61.77, having surged nearly 60% over the past six months.
Following this transaction, Baszucki holds a substantial number of shares through various trusts and direct ownership. The sales were conducted under a Rule 10b5-1 trading plan, which allows company insiders to set up a predetermined plan for selling stock, typically to avoid any accusations of insider trading. According to InvestingPro, the stock's price movements have been quite volatile, one of 12+ key insights available for subscribers.
The shares sold were part of the holdings in the Greg and Christina Baszucki Living Trust, a trust in which Baszucki serves as a trustee and may be deemed to have beneficial ownership. After the sale, Baszucki continues to hold over 9.4 million shares indirectly, reflecting his ongoing significant investment in the company. For comprehensive analysis of Roblox's valuation and detailed metrics, investors can access the full Pro Research Report on InvestingPro.
In other recent news, Roblox Corporation has been the focal point of various financial firms' analysis. HSBC initiated coverage on Roblox with a Buy rating, highlighting an optimistic shift in the company's economic outlook. The firm's analysis suggests improvements in Roblox's virtual world economics, with EBITDA margins increasing by 7% year-over-year and revenue growing by 28% in the nine months of 2024.
Raymond (NS:RYMD) James, on the other hand, has reaffirmed a strong buy rating on the company, raising its price target to $63. This decision is based on positive indicators for Roblox's fourth-quarter performance, including robust user growth and strategic changes to its in-game currency, Robux. However, TD Cowen has maintained a sell rating, citing potential risks including a decline in Roblox's top grossing ranks on mobile platforms.
Contrastingly, Citi has raised its price target for Roblox to $63, following the company's higher-than-expected bookings and daily active user (DAU) growth in the third quarter. Meanwhile, Deutsche Bank (ETR:DBKGn) has increased its price target to $60, attributing this to the company's robust bookings of $1.13 billion, a 34% year-over-year increase. Macquarie also raised its price target to $58, praising Roblox's ability to leverage its operations effectively.
These recent developments come as Roblox reported a 29% surge in revenues, reaching $919 million, and a 34% growth in bookings, hitting $1.13 billion. The company's DAUs also grew by 27%, reaching 88.9 million. Roblox's fourth-quarter bookings guidance stands at $1.34-$1.36 billion, representing a 20% year-over-year increase.
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