New York State Common Retirement Fund lessened its stake in shares of Dropbox, Inc. (NASDAQ:DBX - Free Report) by 10.4% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 128,553 shares of the company's stock after selling 15,000 shares during the period. New York State Common Retirement Fund's holdings in Dropbox were worth $3,862,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Allworth Financial LP increased its stake in shares of Dropbox by 33.5% in the 4th quarter. Allworth Financial LP now owns 1,456 shares of the company's stock valued at $45,000 after purchasing an additional 365 shares in the last quarter. Assenagon Asset Management S.A. increased its holdings in Dropbox by 0.4% in the 3rd 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 in the last quarter. Quarry LP raised its position in Dropbox by 23.4% during the third quarter. Quarry LP now owns 2,424 shares of the company's stock worth $62,000 after acquiring an additional 459 shares during the period. Aaron Wealth Advisors LLC lifted its holdings in Dropbox by 4.8% during the fourth quarter. Aaron Wealth Advisors LLC now owns 10,151 shares of the company's stock valued at $305,000 after purchasing an additional 461 shares in the last quarter. Finally, Fifth Third Bancorp grew its position in shares of Dropbox by 35.6% in the fourth quarter. Fifth Third Bancorp now owns 1,798 shares of the company's stock valued at $54,000 after purchasing an additional 472 shares during the period. Institutional investors and hedge funds own 94.84% of the company's stock.
Dropbox Price Performance
Dropbox stock traded up $0.51 during trading on Tuesday, reaching $26.41. 1,957,114 shares of the company were exchanged, compared to its average volume of 3,454,814. The stock's 50 day simple moving average is $30.52 and its two-hundred day simple moving average is $27.80. Dropbox, Inc. has a 52-week low of $20.68 and a 52-week high of $33.33. The company has a market capitalization of $7.97 billion, a P/E ratio of 18.71, a PEG ratio of 1.70 and a beta of 0.77.
Dropbox (NASDAQ:DBX - Get Free Report) last issued its quarterly earnings data 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 company had revenue of $643.60 million during the quarter, compared to analysts' expectations of $638.61 million. Dropbox had a net margin of 17.75% and a negative return on equity of 132.63%. As a group, equities analysts forecast that Dropbox, Inc. will post 1.64 earnings per share for the current year.
Analysts Set New Price Targets
Separately, Jefferies Financial Group lifted their target price 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.
Check Out Our Latest Stock Report on Dropbox
Insider Buying and Selling at Dropbox
In related news, CFO Timothy Regan sold 2,500 shares of the stock in a transaction on Friday, February 7th. The shares were sold at an average price of $32.19, for a total value of $80,475.00. Following the transaction, the chief financial officer now directly owns 396,264 shares of the company's stock, valued at $12,755,738.16. This trade represents a 0.63 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Andrew Houston sold 500,323 shares of Dropbox stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $29.65, for a total value of $14,834,576.95. Following the transaction, the chief executive officer now directly owns 8,266,666 shares in the company, valued at approximately $245,106,646.90. This trade represents a 5.71 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 772,003 shares of company stock valued at $23,067,375 in the last three months. 28.59% of the stock is owned by corporate insiders.
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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