Rhumbline Advisers Sells 23,621 Shares of Dropbox, Inc. (NASDAQ:DBX)

Rhumbline Advisers trimmed its holdings in shares of Dropbox, Inc. (NASDAQ:DBX - Free Report) by 3.6% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 638,836 shares of the company's stock after selling 23,621 shares during the quarter. Rhumbline Advisers owned 0.21% of Dropbox worth $19,191,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in DBX. Assenagon Asset Management S.A. raised its position in shares of Dropbox by 0.4% during 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 last quarter. Quarry LP raised its holdings in 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 last quarter. Aaron Wealth Advisors LLC lifted its position in shares of Dropbox by 4.8% in the 4th quarter. Aaron Wealth Advisors LLC now owns 10,151 shares of the company's stock worth $305,000 after purchasing an additional 461 shares during the period. Fifth Third Bancorp boosted its stake in shares of Dropbox by 35.6% in the 4th 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 last quarter. Finally, V Square Quantitative Management LLC increased its position in shares of Dropbox by 39.0% during the fourth quarter. V Square Quantitative Management LLC now owns 1,717 shares of the company's stock worth $52,000 after buying an additional 482 shares during the period. 94.84% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Dropbox

In related news, CEO Andrew Houston sold 137,499 shares of the company's stock in a transaction dated Wednesday, December 11th. The shares were sold at an average price of $30.05, for a total value of $4,131,844.95. Following the sale, the chief executive officer now owns 8,266,666 shares in the company, valued at $248,413,313.30. This represents a 1.64 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Timothy Regan sold 2,500 shares of Dropbox 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 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. Over the last ninety days, insiders sold 900,238 shares of company stock valued at $26,680,195. Corporate insiders own 28.59% of the company's stock.

Dropbox Trading Down 16.2 %

DBX stock traded down $5.17 during mid-day trading on Friday, reaching $26.71. The company's stock had a trading volume of 16,499,490 shares, compared to its average volume of 3,338,735. Dropbox, Inc. has a 12 month low of $20.68 and a 12 month high of $33.33. The business's 50 day moving average price is $30.99 and its 200 day moving average price is $27.55. The company has a market cap of $8.27 billion, a price-to-earnings ratio of 15.44, a price-to-earnings-growth ratio of 1.74 and a beta of 0.61.

Dropbox (NASDAQ:DBX - Get Free Report) last released its quarterly earnings data on Thursday, February 20th. The company reported $0.51 earnings per share 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%. The company had revenue of $643.60 million during the quarter, compared to the consensus estimate of $638.61 million. As a group, equities analysts expect that Dropbox, Inc. will post 1.49 EPS for the current fiscal year.

Analyst Ratings Changes

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.