Bank of Hawaii Raises Stock Holdings in Roblox Corporation $RBLX

Bank of Hawaii raised its holdings in Roblox Corporation (NYSE:RBLX) by 555.9% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 25,207 shares of the company’s stock after purchasing an additional 21,364 shares during the period. Bank of Hawaii’s holdings in Roblox were worth $3,492,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in the stock. Norges Bank acquired a new position in Roblox in the second quarter valued at $350,720,000. Vanguard Group Inc. increased its position in shares of Roblox by 5.6% during the third quarter. Vanguard Group Inc. now owns 62,437,998 shares of the company’s stock worth $8,648,911,000 after purchasing an additional 3,284,073 shares in the last quarter. Federated Hermes Inc. lifted its holdings in shares of Roblox by 103.0% in the 2nd quarter. Federated Hermes Inc. now owns 3,245,338 shares of the company’s stock valued at $341,410,000 after purchasing an additional 1,646,871 shares during the last quarter. Massachusetts Financial Services Co. MA boosted its position in shares of Roblox by 47.0% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 4,788,195 shares of the company’s stock valued at $503,718,000 after purchasing an additional 1,531,380 shares during the period. Finally, 1832 Asset Management L.P. boosted its position in shares of Roblox by 359.8% in the 2nd quarter. 1832 Asset Management L.P. now owns 1,818,394 shares of the company’s stock valued at $191,295,000 after purchasing an additional 1,422,894 shares during the period. 94.46% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Roblox

In related news, insider Mark Reinstra sold 60,000 shares of the stock in a transaction on Friday, February 13th. The stock was sold at an average price of $63.94, for a total value of $3,836,400.00. Following the transaction, the insider directly owned 394,322 shares of the company’s stock, valued at approximately $25,212,948.68. This trade represents a 13.21% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Arvind Chakravarthy sold 40,646 shares of Roblox stock in a transaction on Wednesday, February 11th. The shares were sold at an average price of $67.23, for a total value of $2,732,630.58. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 703,144 shares of company stock worth $51,681,640. 12.92% of the stock is currently owned by company insiders.

Roblox Trading Up 0.2%

Roblox stock opened at $56.42 on Friday. Roblox Corporation has a 52 week low of $50.10 and a 52 week high of $150.59. The stock has a 50-day moving average price of $69.85 and a 200 day moving average price of $97.63. The stock has a market cap of $37.33 billion, a PE ratio of -36.40 and a beta of 1.62. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 2.65.

Roblox (NYSE:RBLX) last issued its quarterly earnings results on Thursday, February 5th. The company reported ($0.45) earnings per share for the quarter, beating the consensus estimate of ($0.49) by $0.04. Roblox had a negative return on equity of 304.42% and a negative net margin of 21.78%.The company had revenue of $1.42 billion during the quarter, compared to the consensus estimate of $2.08 billion. During the same period in the previous year, the firm posted ($0.33) EPS. Roblox’s revenue was up 122.6% on a year-over-year basis. Equities research analysts predict that Roblox Corporation will post -1.49 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on RBLX shares. Piper Sandler reiterated an “overweight” rating and issued a $100.00 price objective (down from $125.00) on shares of Roblox in a research note on Friday, February 6th. Wells Fargo & Company set a $97.00 price target on shares of Roblox in a research report on Monday, February 9th. The Goldman Sachs Group lowered their price objective on shares of Roblox from $180.00 to $140.00 and set a “buy” rating on the stock in a research report on Friday, February 6th. Deutsche Bank Aktiengesellschaft set a $115.00 price objective on shares of Roblox in a research note on Tuesday, January 20th. Finally, UBS Group set a $74.00 target price on shares of Roblox in a research note on Friday, February 6th. One investment analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, eight have given a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $117.35.

About Roblox

Roblox Corporation operates Roblox, a user-generated online platform that enables people to create, share and monetize immersive 3D experiences and games. The core offering centers on Roblox Studio, a development environment that allows independent creators and studios to design interactive worlds using the company’s building tools and scripting language. Content on the platform spans games, virtual hangouts, branded experiences and live events, all delivered through a persistent social environment.

Roblox’s business model is built around its virtual economy and creator ecosystem.