New Mexico Educational Retirement Board lessened its holdings in Dropbox, Inc. (NASDAQ:DBX - Free Report) by 15.7% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 45,800 shares of the company's stock after selling 8,500 shares during the quarter. New Mexico Educational Retirement Board's holdings in Dropbox were worth $1,376,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Capital Performance Advisors LLP purchased a new stake in shares of Dropbox in the third quarter worth about $28,000. Avion Wealth raised its position in Dropbox by 4,472.7% during the fourth quarter. Avion Wealth now owns 1,006 shares of the company's stock valued at $30,000 after acquiring an additional 984 shares in the last quarter. V Square Quantitative Management LLC acquired a new position in Dropbox in the third quarter valued at approximately $31,000. Fifth Third Bancorp boosted its position in Dropbox by 35.6% in the 4th quarter. Fifth Third Bancorp now owns 1,798 shares of the company's stock worth $54,000 after purchasing an additional 472 shares in the last quarter. Finally, Quarry LP grew its stake in shares of Dropbox by 23.4% during the 3rd quarter. Quarry LP now owns 2,424 shares of the company's stock worth $62,000 after purchasing an additional 459 shares during the period. Institutional investors and hedge funds own 94.84% of the company's stock.
Dropbox Stock Down 2.4 %
Shares of NASDAQ:DBX traded down $0.79 during trading on Thursday, reaching $31.88. 6,683,698 shares of the company's stock traded hands, compared to its average volume of 2,936,526. Dropbox, Inc. has a fifty-two week low of $20.68 and a fifty-two week high of $33.33. The company has a 50-day simple moving average of $31.03 and a 200-day simple moving average of $27.48. The firm has a market cap of $9.87 billion, a PE ratio of 18.43, a P/E/G ratio of 1.77 and a beta of 0.61.
Dropbox (NASDAQ:DBX - Get Free Report) last issued its quarterly earnings data on Thursday, February 20th. The company reported $0.51 EPS for the quarter, missing the consensus estimate of $0.62 by ($0.11). Dropbox had a net margin of 22.71% and a negative return on equity of 135.85%. On average, equities research analysts forecast that Dropbox, Inc. will post 1.49 EPS for the current year.
Analyst Ratings Changes
Separately, Jefferies Financial Group lifted 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.
View Our Latest Stock Report on DBX
Insider Activity at Dropbox
In related news, CFO Timothy Regan sold 2,500 shares of the firm's stock in a transaction dated Monday, December 30th. The shares were sold at an average price of $30.38, for a total value of $75,950.00. Following the transaction, the chief financial officer now directly owns 413,764 shares of the company's stock, valued at approximately $12,570,150.32. This trade represents a 0.60 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Andrew Houston sold 80,499 shares of the business's stock in a transaction that occurred on Tuesday, January 21st. The stock was sold at an average price of $30.97, for a total value of $2,493,054.03. Following the sale, the chief executive officer now owns 8,266,666 shares of the company's stock, valued at approximately $256,018,646.02. This trade represents a 0.96 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 900,238 shares of company stock valued at $26,680,195. 28.59% of the stock is owned by company insiders.
Dropbox Profile
(
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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