QRG Capital Management Inc. Acquires 21,190 Shares of Dropbox, Inc. (NASDAQ:DBX)

QRG Capital Management Inc. increased its stake in shares of Dropbox, Inc. (NASDAQ:DBX - Free Report) by 10.6% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 221,716 shares of the company's stock after buying an additional 21,190 shares during the quarter. QRG Capital Management Inc. owned about 0.07% of Dropbox worth $5,638,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in DBX. Commonwealth Equity Services LLC grew its stake in Dropbox by 74.9% during the 1st quarter. Commonwealth Equity Services LLC now owns 29,599 shares of the company's stock worth $719,000 after buying an additional 12,675 shares during the last quarter. Daiwa Securities Group Inc. boosted its position in Dropbox by 160.1% during the 1st quarter. Daiwa Securities Group Inc. now owns 41,750 shares of the company's stock worth $1,014,000 after acquiring an additional 25,700 shares during the period. Texas Permanent School Fund Corp boosted its position in Dropbox by 1.3% during the 1st quarter. Texas Permanent School Fund Corp now owns 224,208 shares of the company's stock worth $5,448,000 after acquiring an additional 2,932 shares during the period. LSV Asset Management boosted its position in Dropbox by 3.7% during the 1st quarter. LSV Asset Management now owns 3,427,430 shares of the company's stock worth $83,287,000 after acquiring an additional 121,700 shares during the period. Finally, Quantbot Technologies LP acquired a new position in Dropbox during the 1st quarter worth $224,000. 94.84% of the stock is currently owned by institutional investors.

Insider Activity at Dropbox

In related news, CFO Timothy Regan sold 2,500 shares of the company's stock in a transaction on Tuesday, October 29th. The stock was sold at an average price of $25.71, for a total transaction of $64,275.00. Following the transaction, the chief financial officer now directly owns 464,247 shares of the company's stock, valued at approximately $11,935,790.37. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Dropbox news, CFO Timothy Regan sold 2,500 shares of the company's stock in a transaction dated Tuesday, October 29th. The stock was sold at an average price of $25.71, for a total value of $64,275.00. Following the transaction, the chief financial officer now directly owns 464,247 shares of the company's stock, valued at $11,935,790.37. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Andrew Houston sold 66,064 shares of the stock in a transaction dated Tuesday, September 24th. The shares were sold at an average price of $25.00, for a total value of $1,651,600.00. Following the transaction, the chief executive officer now directly owns 8,266,666 shares in the company, valued at approximately $206,666,650. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 459,952 shares of company stock valued at $11,544,337. Company insiders own 26.40% of the company's stock.

Analyst Upgrades and Downgrades

Separately, UBS Group reduced their price target on Dropbox from $30.00 to $28.00 and set a "buy" rating for the company in a research report on Friday, August 9th. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, Dropbox presently has an average rating of "Hold" and a consensus price target of $28.67.

Dropbox Stock Up 4.7 %

Shares of NASDAQ DBX traded up $1.24 during mid-day trading on Wednesday, hitting $27.90. 3,861,253 shares of the company traded hands, compared to its average volume of 3,689,315. Dropbox, Inc. has a 1 year low of $20.68 and a 1 year high of $33.43. The stock has a market capitalization of $9.08 billion, a price-to-earnings ratio of 15.50, a PEG ratio of 1.62 and a beta of 0.61. The business has a 50 day moving average of $25.20 and a two-hundred day moving average of $23.67.

Dropbox (NASDAQ:DBX - Get Free Report) last posted its quarterly earnings results on Thursday, August 8th. The company reported $0.60 earnings per share for the quarter, beating the consensus estimate of $0.52 by $0.08. The firm had revenue of $634.50 million for the quarter, compared to analyst estimates of $630.10 million. Dropbox had a negative return on equity of 161.78% and a net margin of 23.06%. Dropbox's quarterly revenue was up 1.9% on a year-over-year basis. During the same period in the previous year, the firm earned $0.28 earnings per share. As a group, research analysts anticipate that Dropbox, Inc. will post 1.31 EPS for the current year.

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.