Central Pacific Bank Trust Division Decreases Stock Holdings in Roblox Co. (NYSE:RBLX)

Central Pacific Bank Trust Division cut its stake in shares of Roblox Co. (NYSE:RBLX - Free Report) by 53.6% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund 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.

Several other hedge funds have also recently made changes to their positions in RBLX. Versant Capital Management Inc lifted its stake in Roblox by 83.9% during the 4th quarter. Versant Capital Management Inc now owns 524 shares of the company's stock valued at $30,000 after acquiring an additional 239 shares during the period. Impact Partnership Wealth LLC lifted its position in Roblox by 3.8% during the third quarter. Impact Partnership Wealth LLC now owns 6,730 shares of the company's stock valued at $298,000 after purchasing an additional 245 shares during the period. GAMMA Investing LLC boosted its holdings in Roblox by 29.2% in the fourth quarter. GAMMA Investing LLC now owns 1,200 shares of the company's stock valued at $69,000 after purchasing an additional 271 shares during the last quarter. Metis Global Partners LLC grew its position in Roblox by 5.0% during the 3rd quarter. Metis Global Partners LLC now owns 6,003 shares of the company's stock worth $266,000 after purchasing an additional 288 shares during the period. Finally, Oppenheimer & Co. Inc. raised its stake in shares of Roblox by 5.0% during the 3rd quarter. Oppenheimer & Co. Inc. now owns 6,691 shares of the company's stock valued at $296,000 after buying an additional 321 shares during the last quarter. 94.46% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other Roblox news, insider Mark Reinstra sold 16,480 shares of the business's stock in a transaction on Wednesday, November 20th. The shares were sold at an average price of $51.43, for a total value of $847,566.40. Following the completion of the transaction, the insider now owns 278,161 shares in the company, valued at $14,305,820.23. The trade was a 5.59 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CFO Michael Guthrie sold 30,000 shares of the stock in a transaction dated Monday, October 7th. The shares were sold at an average price of $41.50, for a total value of $1,245,000.00. Following the completion of the sale, the chief financial officer now directly owns 352,844 shares in the company, valued at $14,643,026. This represents a 7.84 % 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. Company insiders own 22.15% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms recently commented on RBLX. BTIG Research raised their target price on Roblox from $51.00 to $56.00 and gave the stock a "buy" rating in a report on Friday, November 1st. Wedbush reaffirmed an "outperform" rating and set a $49.00 price objective on shares of Roblox in a research note on Friday, October 25th. Barclays increased their price target on shares of Roblox from $40.00 to $50.00 and gave the stock an "equal weight" rating in a report on Friday, November 1st. Needham & Company LLC lifted their price objective on shares of Roblox from $50.00 to $60.00 and gave the company a "buy" rating in a report on Friday, November 1st. Finally, The Goldman Sachs Group increased 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. Seven equities research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $55.67.

Roblox Trading Up 2.8 %

Shares of RBLX traded up $1.63 during midday trading on Friday, reaching $60.47. The company had a trading volume of 4,654,714 shares, compared to its average volume of 4,786,757. Roblox Co. has a 1-year low of $29.55 and a 1-year high of $61.77. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 5.64. The firm has a 50 day simple moving average of $54.39 and a 200-day simple moving average of $45.79. The stock has a market cap of $36.74 billion, a PE ratio of -36.87 and a beta of 1.50.

Roblox (NYSE:RBLX - Get Free Report) last released its quarterly earnings results on Thursday, October 31st. The company reported ($0.37) earnings per share for the quarter, topping analysts' consensus estimates of ($0.39) by $0.02. Roblox had a negative return on equity of 986.36% and a negative net margin of 30.90%. The business had revenue of $919.00 million during the quarter, compared to analysts' expectations of $1.02 billion. During the same period in the prior year, the business posted ($0.45) EPS. The company's revenue was up 9.5% compared to the same quarter last year. Research analysts forecast 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.