Dropbox, Inc. (NASDAQ:DBX) Shares Sold by Retirement Systems of Alabama

Retirement Systems of Alabama decreased its holdings in shares of Dropbox, Inc. (NASDAQ:DBX) by 1.9% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 926,477 shares of the company’s stock after selling 17,556 shares during the period. Retirement Systems of Alabama owned approximately 0.30% of Dropbox worth $27,831,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of DBX. Pacer Advisors Inc. grew its holdings in Dropbox by 4.5% during the 3rd quarter. Pacer Advisors Inc. now owns 7,788,652 shares of the company’s stock valued at $198,065,000 after buying an additional 333,245 shares during the last quarter. Jacobs Levy Equity Management Inc. raised its position in shares of Dropbox by 6.2% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 6,239,493 shares of the company’s stock worth $158,670,000 after buying an additional 365,893 shares during the period. Geode Capital Management LLC raised its position in shares of Dropbox by 0.6% in the 3rd quarter. Geode Capital Management LLC now owns 4,366,271 shares of the company’s stock worth $111,368,000 after buying an additional 25,893 shares during the period. Charles Schwab Investment Management Inc. increased its holdings in Dropbox by 8.9% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,796,238 shares of the company’s stock valued at $71,108,000 after purchasing an additional 228,685 shares in the last quarter. Finally, Robeco Institutional Asset Management B.V. increased its holdings in Dropbox by 6.1% in the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 2,355,762 shares of the company’s stock valued at $59,907,000 after purchasing an additional 134,503 shares in the last quarter. Institutional investors and hedge funds own 94.84% of the company’s stock.

Dropbox Stock Performance

NASDAQ:DBX opened at $32.63 on Thursday. The company has a market capitalization of $10.11 billion, a price-to-earnings ratio of 18.86, a price-to-earnings-growth ratio of 1.63 and a beta of 0.61. Dropbox, Inc. has a one year low of $20.68 and a one year high of $33.43. The stock has a 50-day simple moving average of $30.28 and a 200 day simple moving average of $26.87.

Dropbox (NASDAQ:DBX) last issued its earnings results on Thursday, November 7th. The company reported $0.36 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.52 by ($0.16). Dropbox had a negative return on equity of 135.85% and a net margin of 22.71%. The business had revenue of $638.80 million during the quarter, compared to the consensus estimate of $636.93 million. During the same period in the prior year, the business earned $0.35 EPS. On average, equities research analysts forecast that Dropbox, Inc. will post 1.49 EPS for the current fiscal year.

Analyst Ratings Changes

Separately, Jefferies Financial Group increased their price target on Dropbox from $27.00 to $30.00 and gave the company a “hold” rating in a report on Monday, January 6th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $27.50.

Insiders Place Their Bets

In related news, CFO Timothy Regan sold 2,500 shares of the business’s stock in a transaction that occurred on Thursday, January 30th. The stock was sold at an average price of $32.17, for a total transaction of $80,425.00. Following the sale, the chief financial officer now owns 398,764 shares of the company’s stock, valued at $12,828,237.88. The trade was a 0.62 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Eric Cox sold 2,330 shares of the business’s stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $26.41, for a total value of $61,535.30. Following the sale, the insider now directly owns 321,871 shares in the company, valued at approximately $8,500,613.11. The trade was a 0.72 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 902,568 shares of company stock valued at $26,729,180 over the last quarter. Insiders own 26.40% of the company’s stock.

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.