Landscape Capital Management L.L.C. Sells 77,171 Shares of Dropbox, Inc. (NASDAQ:DBX)

Landscape Capital Management L.L.C. lowered its position in shares of Dropbox, Inc. (NASDAQ:DBX - Free Report) by 70.8% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 31,903 shares of the company's stock after selling 77,171 shares during the quarter. Landscape Capital Management L.L.C.'s holdings in Dropbox were worth $958,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the business. Retirement Systems of Alabama raised its stake in Dropbox by 15.2% in the 3rd quarter. Retirement Systems of Alabama now owns 944,033 shares of the company's stock worth $24,007,000 after purchasing an additional 124,528 shares in the last quarter. CWA Asset Management Group LLC bought a new position in shares of Dropbox during the fourth quarter worth approximately $3,205,000. Sanctuary Advisors LLC acquired a new stake in shares of Dropbox in the third quarter valued at approximately $268,000. Empowered Funds LLC boosted its stake in shares of Dropbox by 68.0% in the fourth quarter. Empowered Funds LLC now owns 36,140 shares of the company's stock valued at $1,086,000 after buying an additional 14,629 shares during the period. Finally, Holocene Advisors LP grew its position in Dropbox by 478.3% during the third 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 in the last quarter. Institutional investors own 94.84% of the company's stock.

Insider Buying and Selling

In other news, insider Eric Cox sold 3,765 shares of the company's stock in a transaction on Thursday, February 27th. The shares were sold at an average price of $26.30, for a total transaction of $99,019.50. Following the completion of the transaction, the insider now directly owns 309,550 shares in the company, valued at approximately $8,141,165. This represents a 1.20 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Timothy Regan sold 2,500 shares of the stock in a transaction on Wednesday, January 15th. The shares were sold at an average price of $30.37, for a total value of $75,925.00. Following the completion of the transaction, the chief financial officer now owns 401,264 shares of the company's stock, valued at $12,186,387.68. The trade was a 0.62 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 94,264 shares of company stock worth $2,895,324 in the last ninety days. 28.59% of the stock is owned by insiders.

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Dropbox Price Performance

DBX stock remained flat at $27.08 during mid-day trading on Friday. 4,029,025 shares of the company's stock traded hands, compared to its average volume of 3,613,920. The stock's 50 day moving average is $27.80 and its two-hundred day moving average is $28.21. The stock has a market capitalization of $8.17 billion, a price-to-earnings ratio of 19.21, a P/E/G ratio of 1.70 and a beta of 0.75. Dropbox, Inc. has a 52-week low of $20.68 and a 52-week high of $33.33.

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

Analysts Set New Price Targets

Separately, Jefferies Financial Group lifted their price objective on Dropbox from $27.00 to $30.00 and gave the company 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.