Nancy Pelosi Sold This Stock in December and Now It Is Surging
Shares of the online video game platform Roblox Corp (RBLX:US) traded sharply higher on Wednesday after the company delivered better-than-expected results for its fourth quarter.
Roblox reported a net loss of $290 million for the fourth quarter, which translates into an $0.48 per share loss. Analysts were looking for a $0.51 per share loss.
Revenue rose by $10 million to $579 million, below the analyst consensus of $648 million. However, bookings - the most important financial metric for investors and analysts - came in hotter-than-expected at $899 million, beating the $871 million consensus.
“Bookings accelerated meaningfully in December and January, with year over year growth exceeding 20% in both months,” Chief Financial Officer Michael Guthrie said in a release. “Growth was strong across all geographies and age groups with particular strength among users above 17 years old.”
Roblox shares were also boosted by healthy business trends shares by the company for the month of January. Revenue is estimated in the range of $213 million to 216 million and bookings between $267 million and $271 million.
It was reported in January that Nancy Pelosi and her husband Paul sold 5,000 Roblox shares at an average price of $26.05 for a total loss of $235,836.
Congress member Ro Khanna was selling Roblox shares earlier in May with the most recent sale registered on May 25, when the stock closed at $28.93.
For comparison purposes, Roblox shares trade above $40 per share on Wednesday.
