Insider Sale: Chief Product Officer Manuel Bronstein Sells 40,739 Shares of Roblox Corp (RBLX)
On September 9, 2024, Manuel Bronstein, Chief Product Officer of Roblox Corp (NYSE:RBLX), executed a significant stock sale. The insider sold 40,739 shares at a price of $45 per share, as detailed in the SEC Filing. Following this transaction, the insider now owns 727,485 shares of the company.
Roblox Corp operates an online platform that allows users to explore 3D digital worlds. The platform is highly popular among younger audiences who use it to create, share, and enjoy content from anywhere in the world.
Over the past year, Manuel Bronstein has sold a total of 212,879 shares and has not made any purchases of the company's stock. This recent transaction is part of a broader trend seen within Roblox Corp, where there have been 74 insider sells and no insider buys over the last year.
The shares of Roblox Corp were trading at $45 on the day of the sale, giving the company a market cap of approximately $29.12 billion. According to the GF Value, the intrinsic value of the stock is estimated at $54.79, suggesting that the stock is modestly undervalued with a price-to-GF-Value ratio of 0.82.
The GF Value is calculated based on historical multiples such as price-earnings ratio, price-sales ratio, price-book ratio, and price-to-free cash flow, adjusted for the company's past performance and expected future business outcomes.
This insider sale might draw the attention of investors tracking insider behaviors, especially considering the stock's current valuation and the ongoing trends in insider transactions at Roblox Corp.
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