Central Pacific Bank Trust Division Has $507,000 Position in Roblox Co. (NYSE:RBLX)

Central Pacific Bank Trust Division decreased its stake in Roblox Co. (NYSE:RBLX) by 53.6% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 8,771 shares of the company’s stock after selling 10,151 shares during the period. Central Pacific Bank Trust Division’s holdings in Roblox were worth $507,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Everence Capital Management Inc. acquired a new stake in Roblox during the 4th quarter valued at approximately $927,000. GAMMA Investing LLC increased its position in shares of Roblox by 29.2% during the fourth quarter. GAMMA Investing LLC now owns 1,200 shares of the company’s stock worth $69,000 after buying an additional 271 shares during the period. Versant Capital Management Inc raised its stake in Roblox by 83.9% during the fourth quarter. Versant Capital Management Inc now owns 524 shares of the company’s stock worth $30,000 after buying an additional 239 shares during the last quarter. Principal Financial Group Inc. lifted its holdings in Roblox by 308.2% in the third quarter. Principal Financial Group Inc. now owns 181,808 shares of the company’s stock valued at $8,047,000 after buying an additional 137,267 shares during the period. Finally, Wilmington Savings Fund Society FSB bought a new stake in Roblox during the third quarter valued at $533,000. 94.46% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the company. Citigroup boosted their price objective on Roblox from $53.00 to $63.00 and gave the company a “buy” rating in a research note on Tuesday, November 5th. Canaccord Genuity Group boosted their price target on Roblox from $50.00 to $60.00 and gave the company a “buy” rating in a research note on Friday, November 1st. Wells Fargo & Company raised their price objective on shares of Roblox from $54.00 to $58.00 and gave the stock an “overweight” rating in a research report on Friday, November 1st. Raymond James reiterated a “strong-buy” rating and set a $60.00 target price on shares of Roblox in a research report on Friday, November 22nd. Finally, Barclays increased their target price on shares of Roblox from $40.00 to $50.00 and gave the stock an “equal weight” rating in a research note on Friday, November 1st. Seven research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Roblox presently has an average rating of “Moderate Buy” and an average price target of $55.67.

Insider Activity at Roblox

In other news, insider Mark Reinstra sold 24,000 shares of the firm’s stock in a transaction that occurred on Monday, December 23rd. The shares were sold at an average price of $59.75, for a total transaction of $1,434,000.00. Following the completion of the sale, the insider now owns 278,161 shares in the company, valued at $16,620,119.75. This trade represents a 7.94 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CAO Amy Marie Rawlings sold 2,186 shares of Roblox stock in a transaction that occurred on Monday, November 4th. The stock was sold at an average price of $52.90, for a total transaction of $115,639.40. Following the completion of the sale, the chief accounting officer now directly owns 91,062 shares in the company, valued at $4,817,179.80. This trade represents a 2.34 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 1,284,601 shares of company stock worth $66,867,735. 22.15% of the stock is owned by company insiders.

Roblox Trading Up 2.8 %

Shares of RBLX stock opened at $60.47 on Friday. Roblox Co. has a 52-week low of $29.55 and a 52-week high of $61.77. The company has a 50-day simple moving average of $54.39 and a two-hundred day simple moving average of $45.72. The company has a debt-to-equity ratio of 5.64, a quick ratio of 0.98 and a current ratio of 0.98. The company has a market capitalization of $36.74 billion, a price-to-earnings ratio of -36.87 and a beta of 1.50.

Roblox (NYSE:RBLX) last issued its quarterly earnings results on Thursday, October 31st. The company reported ($0.37) EPS for the quarter, topping analysts’ consensus estimates of ($0.39) by $0.02. The business had revenue of $919.00 million for the quarter, compared to analyst estimates of $1.02 billion. Roblox had a negative return on equity of 986.36% and a negative net margin of 30.90%. Roblox’s quarterly revenue was up 9.5% compared to the same quarter last year. During the same period last year, the company posted ($0.45) earnings per share. Research analysts anticipate that Roblox Co. will post -1.56 EPS for the current fiscal year.

Roblox Profile

Roblox Corporation develops and operates an online entertainment platform in the United States and internationally. It offers Roblox Studio, a free toolset that allows developers and creators to build, publish, and operate 3D experiences, and other content; Roblox Client, an application that allows users to explore 3D experience; and Roblox Cloud, which provides services and infrastructure that power the platform.