Roblox (RBLX) shares fall as CTO resigns to pursue new opportunities

Roblox (NYSE: RBLX) shares dropped Friday after the company said in a filing that its Chief Technology Officer, Daniel Sturman, has resigned.

Sturman informed Roblox of his decision on February 13 and will leave the company effective May 21, 2024, to pursue personal opportunities.

"The company thanks Mr. Sturman for his dedicated service to the company and wishes him well in his future endeavors," said the online game platform and game creation company.

Roblox shares are down more than 2.6% just after the open on Friday, trading at $43.27 per share.

Earlier this month, Roblox topped earnings and bookings consensus expectations for the fourth quarter. The company posted Q4 EPS of ($0.52), $0.03 better than the analyst estimate of ($0.55). Bookings for the quarter came in at $1.13 billion versus the consensus estimate of $1.07 billion.

For FY2024, it sees bookings between $4.14 billion and $4.28 billion.

By Sam Boughedda

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