Roblox Corporation (NYSE:RBLX – Get Free Report) shares passed below its two hundred day moving average during trading on Friday after an insider sold shares in the company. The stock has a two hundred day moving average of $51.20 and traded as low as $49.50. Roblox shares last traded at $49.9290, with a volume of 5,338,539 shares.
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Specifically, insider Mark Reinstra sold 5,071 shares of the company’s stock in a transaction that occurred on Monday, November 9th. The stock was sold at an average price of $51.66, for a total transaction of $261,967.86. Following the completion of the transaction, the insider directly owned 381,554 shares of the company’s stock, valued at $19,711,079.64. This represents a 1.31% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Analyst Upgrades and Downgrades
A number of research analysts have recently issued reports on the company. Bank of America increased their target price on Roblox from $44.00 to $48.00 and gave the company a “neutral” rating in a research report on Monday, September 14th. BMO Capital Markets lowered shares of Roblox from an “outperform” rating to a “market perform” rating and set a $45.00 price target for the company. in a report on Friday, July 31st. DA Davidson reduced their price objective on shares of Roblox from $50.00 to $48.00 and set a “neutral” rating for the company in a research report on Monday, November 2nd. Benchmark cut shares of Roblox from a “hold” rating to a “sell” rating and set a $33.00 price objective for the company. in a research report on Friday, July 31st. Finally, Canaccord Genuity Group set a $58.00 price objective on shares of Roblox in a report on Friday, July 31st. Two investment analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating, thirteen have issued a Hold rating and five have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $53.04.
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