California Public Employees Retirement System Has $34.39 Million Stock Position in Dropbox, Inc. (NASDAQ:DBX)

California Public Employees Retirement System lessened its position in Dropbox, Inc. (NASDAQ:DBX - Free Report) by 3.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,144,754 shares of the company's stock after selling 37,122 shares during the period. California Public Employees Retirement System owned about 0.37% of Dropbox worth $34,388,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of DBX. CreativeOne Wealth LLC acquired a new stake in Dropbox during the 3rd quarter valued at $232,000. Edgestream Partners L.P. lifted its stake in shares of Dropbox by 33.6% during the 3rd quarter. Edgestream Partners L.P. now owns 37,606 shares of the company's stock worth $956,000 after buying an additional 9,466 shares during the last quarter. Holocene Advisors LP boosted its holdings in shares of Dropbox by 478.3% during the 3rd quarter. Holocene Advisors LP now owns 92,160 shares of the company's stock worth $2,344,000 after buying an additional 76,225 shares during the period. HighTower Advisors LLC grew its stake in Dropbox by 68.2% in the 3rd quarter. HighTower Advisors LLC now owns 26,576 shares of the company's stock valued at $683,000 after buying an additional 10,777 shares during the last quarter. Finally, Quarry LP raised its holdings in Dropbox by 23.4% in the 3rd quarter. Quarry LP now owns 2,424 shares of the company's stock valued at $62,000 after acquiring an additional 459 shares during the period. 94.84% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other Dropbox news, CEO Andrew Houston sold 80,499 shares of the firm's stock in a transaction on Tuesday, January 21st. The stock was sold at an average price of $30.97, for a total value of $2,493,054.03. Following the sale, the chief executive officer now owns 8,266,666 shares of the company's stock, valued at approximately $256,018,646.02. This trade represents a 0.96 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Timothy Regan sold 2,500 shares of the business's stock in a transaction on Friday, March 28th. The stock was sold at an average price of $26.57, for a total value of $66,425.00. Following the transaction, the chief financial officer now directly owns 367,791 shares of the company's stock, valued at $9,772,206.87. This trade represents a 0.68 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 124,181 shares of company stock worth $3,794,928. 28.59% of the stock is currently owned by company insiders.

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Dropbox Stock Performance

Shares of DBX stock traded down $1.38 on Friday, hitting $25.45. The company's stock had a trading volume of 5,351,199 shares, compared to its average volume of 3,569,556. Dropbox, Inc. has a fifty-two week low of $20.68 and a fifty-two week high of $33.33. The company has a market capitalization of $7.68 billion, a PE ratio of 18.05, a PEG ratio of 1.70 and a beta of 0.75. The stock's 50 day moving average is $28.71 and its 200-day moving average is $28.11.

Dropbox (NASDAQ:DBX - Get Free Report) last announced its earnings results on Thursday, February 20th. The company reported $0.51 EPS for the quarter, missing the consensus estimate of $0.62 by ($0.11). The business had revenue of $643.60 million for the quarter, compared to the consensus estimate of $638.61 million. Dropbox had a negative return on equity of 132.63% and a net margin of 17.75%. On average, research analysts forecast that Dropbox, Inc. will post 1.64 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Separately, Jefferies Financial Group boosted their price objective on Dropbox from $27.00 to $30.00 and gave the stock a "hold" rating in a report on Monday, January 6th.

Dropbox Profile

Dropbox, Inc provides a content collaboration platform worldwide. The company's platform allows individuals, families, teams, and organizations to collaborate and sign up for free through its website or app, as well as upgrade to a paid subscription plan for premium features. It serves customers in professional services, technology, media, education, industrial, consumer and retail, and financial services industries.