Commerce Bank Decreases Stock Holdings in Dropbox, Inc. (NASDAQ:DBX)

Commerce Bank reduced its position in Dropbox, Inc. (NASDAQ:DBX - Free Report) by 16.0% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 104,185 shares of the company's stock after selling 19,880 shares during the quarter. Commerce Bank's holdings in Dropbox were worth $3,130,000 at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in the business. Arrowstreet Capital Limited Partnership grew its holdings in shares of Dropbox by 38.1% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 5,224,864 shares of the company's stock valued at $156,955,000 after buying an additional 1,440,887 shares during the last quarter. LSV Asset Management grew its stake in Dropbox by 24.0% during the 4th quarter. LSV Asset Management now owns 6,446,121 shares of the company's stock valued at $193,641,000 after purchasing an additional 1,245,563 shares during the last quarter. KLP Kapitalforvaltning AS purchased a new stake in Dropbox during the 4th quarter valued at about $25,375,000. Norges Bank acquired a new position in shares of Dropbox in the fourth quarter valued at about $20,482,000. Finally, Bridgewater Associates LP raised its stake in shares of Dropbox by 39.7% in the fourth quarter. Bridgewater Associates LP now owns 981,914 shares of the company's stock worth $29,497,000 after purchasing an additional 278,902 shares during the last quarter. 94.84% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, CFO Timothy Regan sold 2,500 shares of Dropbox stock in a transaction dated Friday, February 7th. The stock was sold at an average price of $32.19, for a total value of $80,475.00. Following the completion of the transaction, the chief financial officer now owns 396,264 shares in the company, valued at $12,755,738.16. The trade was a 0.63 % decrease in their position. 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 3,765 shares of the stock in a transaction that occurred on Thursday, February 27th. The shares were sold at an average price of $26.30, for a total value of $99,019.50. Following the transaction, the insider now owns 309,550 shares in the company, valued at $8,141,165. This trade represents a 1.20 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 13,765 shares of company stock valued at $393,695 in the last three months. 28.59% of the stock is currently owned by corporate insiders.

Dropbox Trading Up 0.8 %

DBX traded up $0.22 during midday trading on Friday, hitting $28.58. 2,443,596 shares of the company were exchanged, compared to its average volume of 3,632,576. The company's 50 day simple moving average is $26.78 and its 200 day simple moving average is $28.33. The firm has a market capitalization of $8.62 billion, a price-to-earnings ratio of 20.27, a price-to-earnings-growth ratio of 1.70 and a beta of 0.75. Dropbox, Inc. has a 1-year low of $20.68 and a 1-year high of $33.33.

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

Analyst Upgrades and Downgrades

Separately, Jefferies Financial Group increased their price target on shares of Dropbox from $27.00 to $30.00 and gave the stock a "hold" rating in a report on Monday, January 6th.

Dropbox 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.