Geode Capital Management LLC Has $127.14 Million Position in Dropbox, Inc. (NASDAQ:DBX)

Geode Capital Management LLC lessened its holdings in shares of Dropbox, Inc. (NASDAQ:DBX - Free Report) by 3.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 4,212,009 shares of the company's stock after selling 154,262 shares during the quarter. Geode Capital Management LLC owned approximately 1.36% of Dropbox worth $127,136,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Diametric Capital LP bought a new stake in shares of Dropbox during the 4th quarter worth about $313,000. National Wealth Management Group LLC bought a new stake in shares of Dropbox during the fourth quarter worth approximately $221,000. O Shaughnessy Asset Management LLC acquired a new position in shares of Dropbox in the fourth quarter valued at approximately $210,000. Brandywine Global Investment Management LLC bought a new position in shares of Dropbox during the fourth quarter worth approximately $4,105,000. Finally, Arrowstreet Capital Limited Partnership increased its stake in shares of Dropbox by 38.1% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 5,224,864 shares of the company's stock worth $156,955,000 after purchasing an additional 1,440,887 shares during the period. Institutional investors own 94.84% of the company's stock.

Insider Buying and Selling at Dropbox

In other Dropbox news, insider Eric Cox sold 3,765 shares of the business's stock in a transaction dated 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 transaction, the insider now owns 309,550 shares of the company's stock, valued at approximately $8,141,165. The trade was a 1.20 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Timothy Regan sold 2,500 shares of the firm's stock in a transaction that occurred on Friday, February 7th. The shares were sold at an average price of $32.19, for a total transaction of $80,475.00. Following the completion of the sale, the chief financial officer now owns 396,264 shares in the company, valued at approximately $12,755,738.16. The trade was a 0.63 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 94,264 shares of company stock valued at $2,895,324 in the last ninety days. 28.59% of the stock is currently owned by company insiders.

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Dropbox Stock Down 0.4 %

Shares of DBX traded down $0.11 during mid-day trading on Monday, hitting $26.97. 268,799 shares of the company's stock were exchanged, compared to its average volume of 3,603,050. Dropbox, Inc. has a 52 week low of $20.68 and a 52 week high of $33.33. The stock's 50-day simple moving average is $27.80 and its 200-day simple moving average is $28.23. The firm has a market cap of $8.14 billion, a price-to-earnings ratio of 19.13, a price-to-earnings-growth ratio of 1.70 and a beta of 0.75.

Dropbox (NASDAQ:DBX - Get Free Report) last posted its quarterly earnings data on Thursday, February 20th. The company reported $0.51 EPS for the quarter, missing analysts' consensus estimates of $0.62 by ($0.11). The company 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%. Analysts forecast that Dropbox, Inc. will post 1.64 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Separately, Jefferies Financial Group upped 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.

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.