The buying and selling of stock by a company’s insider give investors a sense that the stock will rise or fall in the future. Roblox Corporation shares valued at $2,082,920 were sold by Guthrie Michael on Jun 05 ’24. At $35.24 per share, Guthrie Michael sold 59,100 shares. The insider’s holdings dropped to 374,633 shares worth approximately $13.35 million following the completion of this transaction.
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Also, Chakravarthy Arvind sold 13,970 shares, netting a total of over 488,950 in proceeds. Following the sale of shares at $35.00 each, the insider now holds 308,996 shares.
Before that, Guthrie Michael had sold 900 shares from its account. In a trade valued at $31,503, the Chief Financial Officer traded Roblox Corporation shares for $35.00 each. Upon closing the transaction, the insider’s holdings decreased to 900 shares, worth approximately $13.35 million.
As published in a research note from MoffettNathanson on May 10, 2024, Roblox Corporation [RBLX] has been rated up from a Sell to a Neutral and the price target has been revised to $26. Analysts at JP Morgan upgraded the stock from ‘”a Neutral”‘ to ‘”an Overweight”‘ outlook in a report released in late April. As of February 08, 2024, Goldman has increased its “Sell” rating to a “Neutral” for RBLX. Earlier on February 08, 2024, Barclays upgraded its rating. Their new recommendation was “an Equal weight” for RBLX stock which previously was a “an Underweight”.
Analyzing RBLX Stock Performance
During the last five days, there has been a surge of approximately 7.51%. Over the course of the year, Roblox Corporation shares have dropped approximately -22.05%. Shares of the company reached a 52-week high of $47.11 on 02/08/24 and a 52-week low of $29.55 on 05/09/24. A 50-day SMA is recorded $35.61, while a 200-day SMA reached $36.40. Nevertheless, trading volume fell to 3.67 million shares from 6.45 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 35.26, which, if violated, would cause prices to drop to 34.89. In the upper region, resistance lies at 36.07. The next price resistance is at 36.50. RSI (Relative Strength Index) is 55.97 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 1.82, which suggests the price will increase in the coming days. Percent R is at 10.60%, indicating bullish price movement. Stochastics %K at selling indicates that the stock is to be held.
