Illinois Municipal Retirement Fund Acquires 28,923 Shares of Dropbox, Inc. (NASDAQ:DBX)

Illinois Municipal Retirement Fund lifted its holdings in shares of Dropbox, Inc. (NASDAQ:DBX - Free Report) by 19.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 180,723 shares of the company's stock after purchasing an additional 28,923 shares during the period. Illinois Municipal Retirement Fund owned 0.06% of Dropbox worth $5,429,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently modified their holdings of DBX. Creative Planning lifted its holdings in shares of Dropbox by 97.4% during the third quarter. Creative Planning now owns 66,123 shares of the company's stock worth $1,682,000 after purchasing an additional 32,622 shares during the period. Blue Trust Inc. lifted its stake in shares of Dropbox by 383.4% in the third quarter. Blue Trust Inc. now owns 2,934 shares of the company's stock worth $75,000 after acquiring an additional 2,327 shares during the period. Assenagon Asset Management S.A. lifted its stake in shares of Dropbox by 0.4% in the third quarter. Assenagon Asset Management S.A. now owns 89,157 shares of the company's stock worth $2,267,000 after acquiring an additional 383 shares during the period. Wealth Enhancement Advisory Services LLC acquired a new position in shares of Dropbox in the third quarter worth approximately $4,987,000. Finally, State of Alaska Department of Revenue lifted its stake in shares of Dropbox by 0.8% in the third quarter. State of Alaska Department of Revenue now owns 164,384 shares of the company's stock worth $4,179,000 after acquiring an additional 1,280 shares during the period. Institutional investors and hedge funds own 94.84% of the company's stock.

Remove Ads

Dropbox Stock Performance

Shares of NASDAQ DBX traded up $0.03 during trading on Friday, hitting $25.98. 5,995,710 shares of the company traded hands, compared to its average volume of 3,733,410. The business's fifty day moving average is $30.61 and its 200 day moving average is $27.74. Dropbox, Inc. has a fifty-two week low of $20.68 and a fifty-two week high of $33.33. The firm has a market capitalization of $8.05 billion, a price-to-earnings ratio of 18.43, a P/E/G ratio of 1.70 and a beta of 0.61.

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

Insiders Place Their Bets

In related news, CEO Andrew Houston sold 80,499 shares of the firm's stock in a transaction dated Tuesday, January 21st. The shares were sold at an average price of $30.97, for a total transaction of $2,493,054.03. Following the completion of the sale, the chief executive officer now owns 8,266,666 shares in the company, valued at approximately $256,018,646.02. This trade represents a 0.96 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO Timothy Regan sold 2,500 shares of the firm's stock in a transaction dated Monday, December 30th. The stock was sold at an average price of $30.38, for a total transaction of $75,950.00. Following the sale, the chief financial officer now owns 413,764 shares of the company's stock, valued at $12,570,150.32. This trade represents a 0.60 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 900,238 shares of company stock valued at $26,680,195 in the last three months. 28.59% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

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

Dropbox Company 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.