Central Pacific Bank Trust Division Sells 10,151 Shares of Roblox Co. (NYSE:RBLX)

Central Pacific Bank Trust Division cut its position in Roblox Co. (NYSE:RBLX) by 53.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 8,771 shares of the company’s stock after selling 10,151 shares during the quarter. Central Pacific Bank Trust Division’s holdings in Roblox were worth $507,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Toronto Dominion Bank grew its position in shares of Roblox by 34.3% in the 3rd quarter. Toronto Dominion Bank now owns 60,092 shares of the company’s stock valued at $2,660,000 after acquiring an additional 15,333 shares during the period. Entropy Technologies LP grew its holdings in Roblox by 168.4% during the third quarter. Entropy Technologies LP now owns 99,649 shares of the company’s stock worth $4,410,000 after purchasing an additional 62,521 shares during the period. Dragoneer Investment Group LLC increased its position in Roblox by 26.9% during the second quarter. Dragoneer Investment Group LLC now owns 11,745,203 shares of the company’s stock worth $437,039,000 after buying an additional 2,488,044 shares during the last quarter. Benjamin Edwards Inc. raised its stake in Roblox by 12,971.4% in the third quarter. Benjamin Edwards Inc. now owns 52,024 shares of the company’s stock valued at $2,302,000 after buying an additional 51,626 shares during the period. Finally, State Street Corp lifted its position in shares of Roblox by 2.3% in the third quarter. State Street Corp now owns 10,855,890 shares of the company’s stock valued at $480,482,000 after buying an additional 240,565 shares during the last quarter. 94.46% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the company. Citigroup increased their price target on Roblox from $53.00 to $63.00 and gave the company a “buy” rating in a research note on Tuesday, November 5th. The Goldman Sachs Group raised their target price on shares of Roblox from $45.00 to $55.00 and gave the stock a “neutral” rating in a research note on Friday, November 1st. Piper Sandler upped their price target on shares of Roblox from $54.00 to $65.00 and gave the company an “overweight” rating in a research note on Friday, November 1st. HSBC assumed coverage on shares of Roblox in a research report on Thursday, December 12th. They set a “buy” rating and a $63.00 price objective for the company. Finally, JPMorgan Chase & Co. upped their target price on Roblox from $51.00 to $62.00 and gave the company an “overweight” rating in a research report on Friday, November 1st. Seven equities research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Roblox has a consensus rating of “Moderate Buy” and a consensus target price of $55.67.

Insider Activity at Roblox

In other news, Director Anthony P. Lee sold 200,000 shares of Roblox stock in a transaction dated Thursday, October 31st. The stock was sold at an average price of $50.33, for a total transaction of $10,066,000.00. Following the sale, the director now directly owns 4,707,579 shares of the company’s stock, valued at approximately $236,932,451.07. This trade represents a 4.08 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CAO Amy Marie Rawlings sold 2,186 shares of the company’s stock in a transaction that occurred on Monday, November 4th. The shares were sold at an average price of $52.90, for a total value of $115,639.40. Following the completion of the transaction, the chief accounting officer now directly owns 91,062 shares of the company’s stock, valued at $4,817,179.80. This represents a 2.34 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 1,284,601 shares of company stock valued at $66,867,735. 22.15% of the stock is owned by insiders.

Roblox Stock Up 2.8 %

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

Roblox (NYSE:RBLX) last released its quarterly earnings data on Thursday, October 31st. The company reported ($0.37) earnings per share for the quarter, beating the consensus estimate 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 revenue was up 9.5% compared to the same quarter last year. During the same period last year, the firm posted ($0.45) earnings per share. Equities analysts expect that Roblox Co. will post -1.56 earnings per share for the current fiscal year.

About Roblox

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.