Vanguard Group Inc. reduced its position in Dropbox, Inc. (NASDAQ:DBX - Free Report) by 1.7% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 27,494,824 shares of the company's stock after selling 463,446 shares during the period. Vanguard Group Inc. owned about 8.88% of Dropbox worth $825,945,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors have also bought and sold shares of DBX. Jacobs Levy Equity Management Inc. boosted its holdings in shares of Dropbox by 6.2% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 6,239,493 shares of the company's stock worth $158,670,000 after buying an additional 365,893 shares during the period. Geode Capital Management LLC lifted its position in Dropbox by 0.6% during the third quarter. Geode Capital Management LLC now owns 4,366,271 shares of the company's stock worth $111,368,000 after acquiring an additional 25,893 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in shares of Dropbox by 4.2% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,914,005 shares of the company's stock worth $87,537,000 after acquiring an additional 117,767 shares during the period. Retirement Systems of Alabama grew its position in shares of Dropbox by 15.2% in the third quarter. Retirement Systems of Alabama now owns 944,033 shares of the company's stock valued at $24,007,000 after purchasing an additional 124,528 shares during the last quarter. Finally, KLP Kapitalforvaltning AS bought a new position in Dropbox during the 4th quarter worth $25,375,000. Institutional investors own 94.84% of the company's stock.
Wall Street Analyst Weigh In
Separately, Jefferies Financial Group increased their price objective on shares of Dropbox from $27.00 to $30.00 and gave the stock a "hold" rating in a research note on Monday, January 6th.
View Our Latest Analysis on DBX
Dropbox Stock Down 2.3 %
Shares of DBX stock traded down $0.64 during trading hours on Thursday, reaching $26.83. The company's stock had a trading volume of 4,443,099 shares, compared to its average volume of 3,564,231. Dropbox, Inc. has a fifty-two week low of $20.68 and a fifty-two week high of $33.33. The firm's 50 day simple moving average is $28.71 and its 200-day simple moving average is $28.11. The company has a market capitalization of $8.10 billion, a price-to-earnings ratio of 19.03, a PEG ratio of 1.70 and a beta of 0.75.
Dropbox (NASDAQ:DBX - Get Free Report) last released its quarterly earnings data on Thursday, February 20th. The company reported $0.51 earnings per share for the quarter, missing the consensus estimate of $0.62 by ($0.11). The business had revenue of $643.60 million during the quarter, compared to analyst estimates of $638.61 million. Dropbox had a net margin of 17.75% and a negative return on equity of 132.63%. Sell-side analysts predict that Dropbox, Inc. will post 1.64 earnings per share for the current year.
Insider Activity at Dropbox
In related news, insider Eric Cox sold 3,765 shares of the firm's stock in a transaction that occurred on Thursday, February 27th. The shares were sold at an average price of $26.30, for a total value of $99,019.50. Following the completion of the transaction, the insider now owns 309,550 shares in the company, valued at $8,141,165. This trade represents a 1.20 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Andrew Houston sold 29,917 shares of the business's stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $30.07, for a total transaction of $899,604.19. Following the sale, the chief executive officer now directly owns 8,266,666 shares in the company, valued at $248,578,646.62. The trade was a 0.36 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 124,181 shares of company stock valued at $3,794,928 in the last quarter. Insiders own 28.59% of the company's stock.
About Dropbox
(
Free Report)
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.
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