Dropbox, Inc. (NASDAQ:DBX) Shares Sold by Price T Rowe Associates Inc. MD

Price T Rowe Associates Inc. MD cut its holdings in shares of Dropbox, Inc. (NASDAQ:DBX - Free Report) by 60.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 137,060 shares of the company's stock after selling 211,450 shares during the quarter. Price T Rowe Associates Inc. MD's holdings in Dropbox were worth $4,118,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Arrowstreet Capital Limited Partnership increased its position in 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 acquiring an additional 1,440,887 shares during the last quarter. LSV Asset Management grew its holdings 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 bought a new position in Dropbox during the 4th quarter valued at about $25,375,000. Norges Bank bought a new stake in Dropbox in the fourth quarter worth about $20,482,000. Finally, Bridgewater Associates LP boosted its position in shares of Dropbox by 39.7% during the fourth quarter. Bridgewater Associates LP now owns 981,914 shares of the company's stock valued at $29,497,000 after buying an additional 278,902 shares during the period. 94.84% of the stock is currently owned by hedge funds and other institutional investors.

Dropbox Price Performance

Shares of NASDAQ:DBX traded down $0.20 during trading on Friday, reaching $29.49. 3,816,220 shares of the company were exchanged, compared to its average volume of 3,638,388. The firm has a market capitalization of $8.90 billion, a PE ratio of 20.92, a P/E/G ratio of 1.70 and a beta of 0.68. The business's fifty day simple moving average is $27.02 and its 200-day simple moving average is $28.50. Dropbox, Inc. has a 12-month low of $20.68 and a 12-month high of $33.33.

Dropbox (NASDAQ:DBX - Get Free Report) last released its quarterly earnings data on Thursday, May 8th. The company reported $0.70 earnings per share for the quarter, topping analysts' consensus estimates of $0.62 by $0.08. Dropbox had a net margin of 17.75% and a negative return on equity of 132.63%. The company had revenue of $624.70 million during the quarter, compared to analyst estimates of $619.56 million. During the same period in the prior year, the firm earned $0.58 earnings per share. The firm's revenue for the quarter was down 1.0% compared to the same quarter last year. On average, sell-side analysts anticipate that Dropbox, Inc. will post 1.64 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Separately, Citigroup raised their price target on Dropbox from $30.00 to $32.00 and gave the stock a "neutral" rating in a research note on Friday.

Insiders Place Their Bets

In related news, insider Eric Cox sold 3,765 shares of the business's stock in a transaction that occurred on 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 transaction, the insider now owns 309,550 shares in the company, valued at $8,141,165. The trade was a 1.20 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Timothy Regan sold 2,500 shares of the firm's stock in a transaction that occurred on Wednesday, April 30th. The shares were sold at an average price of $28.29, for a total transaction of $70,725.00. Following the completion of the sale, the chief financial officer now owns 562,568 shares of the company's stock, valued at approximately $15,915,048.72. This trade represents a 0.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 11,265 shares of company stock worth $303,520 over the last 90 days. Company insiders own 29.95% of the company's stock.

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.