A company insider recently sold 2,000 shares of Roblox Corporation [RBLX]. Should You Sale?

Investors can expect a company’s stock to rise or fall based on the buying and selling of stock by its insiders. Roblox Corporation shares valued at $88,760 were sold by Donato Craig on Sep 15. At $44.38 per share, Donato Craig sold 2,000 shares. The insider’s holdings dropped to 1,172,941 shares worth approximately $41.36 million following the completion of this transaction.

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Also, Messing Barbara sold 21,622 shares, netting a total of over 973,941 in proceeds. Following the sale of shares at $45.04 each, the insider now holds 152,936 shares.

Before that, Bronstein Manuel had sold 2,612 shares from its account. In a trade valued at $117,540, the Chief Product Officer traded Roblox Corporation shares for $45.00 each. Upon closing the transaction, the insider’s holdings decreased to 2,612 shares, worth approximately $27.26 million.

As published in their initiating research note from Cowen on September 12, 2022, Roblox Corporation [RBLX] has been an Underperform and the price target has been revised to $31. This represents a -13.74% premium over Thursday’s closing price. Analysts at Wolfe Research started covering the stock with ‘”a Peer perform”‘ outlook in a report released in mid August. As of June 17, 2022, Truist has decreased its “Buy” rating to a “Hold” for RBLX. Earlier on June 10, 2022, Goldman downgraded its rating. Their new recommendation was “a Sell” for RBLX stock which previously was a “a Neutral”.

Analyzing RBLX’s Price Performance

On Thursday, Roblox Corporation [NYSE: RBLX] plunged -1.54% to $35.26. The stock’s lowest price that day was $34.90, but it reached a high of $36.1395 in the same session. During the last five days, there has been a drop of approximately -18.94%. Over the course of the year, Roblox Corporation shares have dropped approximately -65.82%. Shares of the company reached a 52-week high of $103.79 on 01/03/22 and a 52-week low of $21.65 on 05/10/22. A 50-day SMA is recorded $42.46, while a 200-day SMA reached $50.76. Nevertheless, trading volume fell to 14.83 million shares from 15.26 million shares the previous day.

Support And Resistance Levels for Roblox Corporation (RBLX)

According to the 24-hour chart, there is a support level at 34.73, which, if violated, would cause prices to drop to 34.19. In the upper region, resistance lies at 35.97. The next price resistance is at 36.67. RSI (Relative Strength Index) is 34.99 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -4.62, which suggests the price will decrease in the coming days. Percent R is at 97.04%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.

Is Roblox Corporation subject to short interest?

Stocks of Roblox Corporation saw a sharp steep in short interest on Jul 14, 2022 dropping by -8.48 million shares to 34.04 million. Data from Yahoo Finance shows that the short interest on Jun 14, 2022 was 42.52 million shares. A decline of -24.91% in short interest reflects a negative sentiment towards the stock. Despite the fact that short shares comprise just 0.96 of the overall float, the days-to-cover ratio (short ratio) decline to 0.96.

Which companies own the most shares of Roblox Corporation (RBLX)?

According to Morgan Stanley Investment Managem filings, the company currently owns 39,311,034 shares, which is about 7.21% of the total RBLX shares outstanding. The investor’s shares have appreciated by 1,696,974 from its previous 13-F filing of 37614060.0 shares. With the completion of the sale transaction, T. Rowe Price Associates, Inc.’s stake is now worth $890,542,835. The Vanguard Group, Inc. acquire a 34.11% interest valued at $843.65 million while Baillie Gifford & Co. purchased a 6,941,347 stake. A total of 484,685 shares of Roblox Corporation were bought by Temasek Holdings Pte Ltd. during the quarter, and 7,143,300 were bought by Renaissance Technologies LLC. In its current portfolio, BlackRock Fund Advisors holds 8,817,195 shares valued at $344.84 million.

In terms of Roblox Corporation share price expectations, FactSet research, analysts set an average price target of $46.63 in the next 12 months, up nearly 39.63% from the previous closing price of $35.81. Analysts anticipate Roblox Corporation stock to reach $75.00 by 2022, with the lowest price target being $21.00. In spite of this, 23 analysts ranked Roblox Corporation stock as an Overweight at the end of 2022. On May 24, 2022, Atlantic Equities assigned a price target of “a Neutral” to the stock and downgraded coverage with a $30.


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