Roblox Corp (NASDAQ:RBLX) Chief Financial Officer Naveen Chopra sold shares totaling $763,602 on May 20, according to a recent SEC Form 4 filing. The transactions involved the disposal of 16,863 shares of Class A Common Stock.
These sales were primarily to cover statutory tax withholding obligations related to the vesting of Restricted Stock Units and were not discretionary transactions by Mr. Chopra.
Roblox shares trade at $48.16, with a 12% gain over the past week despite a challenging six-month period that saw shares decline 46%. The company has a market capitalization of $34.5 billion.
The sales occurred in two separate transactions. The first involved 1,873 shares at a weighted average price of $44.4721 per share (range $43.94 to $44.92). The second saw 14,990 shares sold at $45.384 per share (range $44.94 to $45.92).
Following these transactions, Mr. Chopra directly holds 380,758 shares of Roblox Class A Common Stock. A portion of these securities are Restricted Stock Units. The Form 4 was filed with the SEC on May 22.
According to Bond.az analysis, Roblox appears undervalued at current levels. In recent news, Roblox announced a $3 billion share repurchase program.
