Distillate Capital Partners LLC Decreases Position in Dropbox, Inc. (NASDAQ:DBX)

Distillate Capital Partners LLC reduced its stake in Dropbox, Inc. (NASDAQ:DBX - Free Report) by 22.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 507,452 shares of the company's stock after selling 144,563 shares during the quarter. Distillate Capital Partners LLC owned about 0.16% of Dropbox worth $15,244,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in DBX. Arrowstreet Capital Limited Partnership lifted its stake in Dropbox by 38.1% in 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 period. LSV Asset Management lifted its position in shares of 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 acquiring an additional 1,245,563 shares during the period. KLP Kapitalforvaltning AS bought a new position in Dropbox during the fourth quarter worth $25,375,000. Norges Bank acquired a new stake in Dropbox in the fourth quarter worth $20,482,000. Finally, Trexquant Investment LP bought a new stake in Dropbox in the fourth quarter valued at $7,041,000. 94.84% of the stock is currently owned by institutional investors.

Dropbox Price Performance

Shares of NASDAQ:DBX traded up $0.28 during trading on Thursday, reaching $27.11. 2,779,080 shares of the stock were exchanged, compared to its average volume of 3,614,116. Dropbox, Inc. has a 1-year low of $20.68 and a 1-year high of $33.33. The stock has a fifty day moving average of $27.47 and a two-hundred day moving average of $28.22. The firm has a market cap of $8.18 billion, a price-to-earnings ratio of 19.23, a price-to-earnings-growth ratio of 1.70 and a beta of 0.75.

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 analysts' consensus estimates of $0.62 by ($0.11). The business had revenue of $643.60 million during the quarter, compared to the consensus estimate of $638.61 million. Dropbox had a net margin of 17.75% and a negative return on equity of 132.63%. Sell-side analysts forecast that Dropbox, Inc. will post 1.64 EPS for the current year.

Analyst Upgrades and Downgrades

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

Insider Buying and Selling at Dropbox

In other Dropbox news, CEO Andrew Houston sold 80,499 shares of the company's stock in a transaction dated Tuesday, January 21st. The shares were sold at an average price of $30.97, for a total value of $2,493,054.03. Following the completion of the sale, the chief executive officer now directly owns 8,266,666 shares of the company's stock, valued at approximately $256,018,646.02. This represents a 0.96 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Timothy Regan sold 2,500 shares of Dropbox stock in a transaction that occurred on Friday, February 7th. The stock was sold at an average price of $32.19, for a total transaction of $80,475.00. Following the transaction, the chief financial officer now directly owns 396,264 shares in the company, valued at approximately $12,755,738.16. This represents a 0.63 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 94,264 shares of company stock worth $2,886,749. Corporate insiders own 28.59% 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.