Dropbox, Inc. (NASDAQ:DBX) Stock Holdings Trimmed by QRG Capital Management Inc.

QRG Capital Management Inc. trimmed its position in Dropbox, Inc. (NASDAQ:DBX - Free Report) by 79.9% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 44,672 shares of the company's stock after selling 177,044 shares during the period. QRG Capital Management Inc.'s holdings in Dropbox were worth $1,342,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of DBX. Allworth Financial LP boosted its stake in Dropbox by 33.5% during the fourth quarter. Allworth Financial LP now owns 1,456 shares of the company's stock worth $45,000 after buying an additional 365 shares during the last quarter. Quarry LP boosted 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 purchasing an additional 459 shares during the last quarter. Aaron Wealth Advisors LLC increased its holdings in shares of Dropbox by 4.8% during the 4th quarter. Aaron Wealth Advisors LLC now owns 10,151 shares of the company's stock worth $305,000 after buying an additional 461 shares during the last quarter. Fifth Third Bancorp lifted its holdings in Dropbox by 35.6% in the fourth quarter. Fifth Third Bancorp now owns 1,798 shares of the company's stock valued at $54,000 after acquiring an additional 472 shares during the last quarter. Finally, V Square Quantitative Management LLC grew its position in Dropbox by 39.0% in the fourth quarter. V Square Quantitative Management LLC now owns 1,717 shares of the company's stock worth $52,000 after acquiring an additional 482 shares during the period. 94.84% of the stock is currently owned by hedge funds and other institutional investors.

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Insider Activity at Dropbox

In other Dropbox news, CFO Timothy Regan sold 2,500 shares of the business's stock in a transaction on Friday, February 7th. The shares were sold at an average price of $32.19, for a total value of $80,475.00. Following the transaction, the chief financial officer now directly owns 396,264 shares of the company's stock, valued at approximately $12,755,738.16. The trade was a 0.63 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Eric Cox sold 3,765 shares of the firm's stock in a transaction on Thursday, February 27th. The stock was sold at an average price of $26.30, for a total transaction of $99,019.50. Following the completion of the sale, the insider now owns 309,550 shares of the company's stock, valued at $8,141,165. This trade represents a 1.20 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 772,003 shares of company stock valued at $23,067,375 in the last ninety days. Insiders own 28.59% of the company's stock.

Analysts Set New Price Targets

Separately, Jefferies Financial Group upped their price target on Dropbox from $27.00 to $30.00 and gave the company a "hold" rating in a research note on Monday, January 6th.

Dropbox Stock Up 3.1 %

Dropbox stock traded up $0.79 during mid-day trading on Friday, reaching $26.42. 4,207,902 shares of the company's stock were exchanged, compared to its average volume of 3,455,287. Dropbox, Inc. has a twelve month low of $20.68 and a twelve month high of $33.33. The company has a market cap of $7.97 billion, a P/E ratio of 18.74, a P/E/G ratio of 1.70 and a beta of 0.77. The company has a fifty day moving average of $30.24 and a 200-day moving average of $27.80.

Dropbox (NASDAQ:DBX - Get Free Report) last posted its quarterly earnings results 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 company had revenue of $643.60 million during the quarter, compared to analyst estimates of $638.61 million. Equities research analysts expect that Dropbox, Inc. will post 1.64 earnings per share for the current fiscal year.

About Dropbox

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.