844,700 Shares in Dropbox, Inc. (NASDAQ:DBX) Acquired by KLP Kapitalforvaltning AS

KLP Kapitalforvaltning AS purchased a new stake in shares of Dropbox, Inc. (NASDAQ:DBX - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 844,700 shares of the company's stock, valued at approximately $25,375,000. KLP Kapitalforvaltning AS owned 0.27% of Dropbox at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Jacobs Levy Equity Management Inc. lifted its position 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 valued at $158,670,000 after buying an additional 365,893 shares in the last quarter. Geode Capital Management LLC raised its stake in Dropbox by 0.6% during the 3rd 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 period. Charles Schwab Investment Management Inc. lifted its holdings in Dropbox by 4.2% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,914,005 shares of the company's stock valued at $87,537,000 after purchasing an additional 117,767 shares in the last quarter. Retirement Systems of Alabama boosted 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 worth $24,007,000 after purchasing an additional 124,528 shares during the period. Finally, Glenmede Trust Co. NA raised its position in shares of Dropbox by 1.2% during the 3rd quarter. Glenmede Trust Co. NA now owns 751,387 shares of the company's stock valued at $19,108,000 after purchasing an additional 9,078 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

In related news, CFO Timothy Regan sold 2,500 shares of the company's stock in a transaction 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 sale, the chief financial officer now owns 396,264 shares of the company's stock, valued at $12,755,738.16. This represents a 0.63 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Eric Cox sold 3,765 shares of Dropbox 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 transaction, the insider now directly owns 309,550 shares of the company's stock, valued at $8,141,165. The trade was a 1.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 634,504 shares of company stock worth $18,935,530. 28.59% of the stock is currently owned by insiders.

Dropbox Stock Up 0.4 %

NASDAQ DBX traded up $0.10 on Thursday, reaching $26.93. The company had a trading volume of 3,174,443 shares, compared to its average volume of 3,467,434. The stock has a market capitalization of $8.13 billion, a PE ratio of 19.10, a price-to-earnings-growth ratio of 1.70 and a beta of 0.77. Dropbox, Inc. has a 12 month low of $20.68 and a 12 month high of $33.33. The firm's 50 day moving average price is $29.18 and its 200 day moving average price is $28.02.

Dropbox (NASDAQ:DBX - Get Free Report) last issued its earnings results on Thursday, February 20th. The company reported $0.51 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.62 by ($0.11). The firm had revenue of $643.60 million during 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%. On average, research analysts expect that Dropbox, Inc. will post 1.64 EPS for the current year.

Analyst Upgrades and Downgrades

Separately, Jefferies Financial Group raised their price target on 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.