Dropbox, Inc. (NASDAQ:DBX) Shares Acquired by Teacher Retirement System of Texas

Teacher Retirement System of Texas boosted its position in Dropbox, Inc. (NASDAQ:DBX - Free Report) by 70.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 243,626 shares of the company's stock after buying an additional 100,886 shares during the period. Teacher Retirement System of Texas owned approximately 0.08% of Dropbox worth $7,319,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently bought and sold shares of DBX. Allworth Financial LP raised its holdings in shares of Dropbox by 33.5% during the fourth quarter. Allworth Financial LP now owns 1,456 shares of the company's stock worth $45,000 after purchasing an additional 365 shares during the last quarter. EverSource Wealth Advisors LLC lifted its holdings in shares of Dropbox by 96.1% in the 4th quarter. EverSource Wealth Advisors LLC now owns 865 shares of the company's stock valued at $26,000 after buying an additional 424 shares during the period. Quarry LP boosted its stake in shares of Dropbox by 23.4% in the third quarter. Quarry LP now owns 2,424 shares of the company's stock worth $62,000 after buying an additional 459 shares during the last quarter. Aaron Wealth Advisors LLC lifted its holdings in Dropbox by 4.8% in the fourth quarter. Aaron Wealth Advisors LLC now owns 10,151 shares of the company's stock valued at $305,000 after acquiring an additional 461 shares during the period. Finally, Fifth Third Bancorp grew its stake in shares of Dropbox by 35.6% during 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 during the period. Institutional investors and hedge funds own 94.84% of the company's stock.

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Dropbox Stock Up 0.4 %

Shares of Dropbox stock traded up $0.10 during mid-day trading on Thursday, reaching $26.93. 3,174,443 shares of the stock traded hands, compared to its average volume of 3,467,434. The business has a 50-day moving average of $29.18 and a 200 day moving average of $28.02. The stock has a market capitalization of $8.13 billion, a PE ratio of 19.10, a PEG ratio of 1.70 and a beta of 0.77. Dropbox, Inc. has a fifty-two week low of $20.68 and a fifty-two week high of $33.33.

Dropbox (NASDAQ:DBX - Get Free Report) last released its earnings results on Thursday, February 20th. The company reported $0.51 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.62 by ($0.11). The business had revenue of $643.60 million for the quarter, compared to analysts' expectations of $638.61 million. Dropbox had a negative return on equity of 132.63% and a net margin of 17.75%. On average, equities research analysts expect that Dropbox, Inc. will post 1.64 EPS for the current fiscal year.

Analysts Set New Price Targets

Separately, Jefferies Financial Group increased 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.

Insiders Place Their Bets

In other Dropbox news, insider Eric Cox sold 3,765 shares of Dropbox stock in a transaction dated Thursday, February 27th. The shares were sold at an average price of $26.30, for a total transaction of $99,019.50. Following the completion of the sale, the insider now directly owns 309,550 shares in the company, valued at $8,141,165. This trade represents a 1.20 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Timothy Regan sold 2,500 shares of the stock in a transaction that occurred on Monday, December 30th. The stock was sold at an average price of $30.38, for a total transaction of $75,950.00. Following the transaction, the chief financial officer now directly owns 413,764 shares of the company's stock, valued at $12,570,150.32. The trade was a 0.60 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 634,504 shares of company stock valued at $18,935,530 in the last three months. 28.59% of the stock is currently owned by insiders.

About Dropbox

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.