Ensign Peak Advisors Inc reduced its stake in Dropbox, Inc. (NASDAQ:DBX - Free Report) by 17.4% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 128,055 shares of the company's stock after selling 26,922 shares during the quarter. Ensign Peak Advisors Inc's holdings in Dropbox were worth $3,847,000 as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Arrowstreet Capital Limited Partnership lifted its position in shares of Dropbox by 38.1% during the 4th 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 in the last quarter. Caisse DE Depot ET Placement DU Quebec boosted its position in shares of Dropbox by 291.2% in the fourth quarter. Caisse DE Depot ET Placement DU Quebec now owns 1,797,823 shares of the company's stock worth $54,007,000 after purchasing an additional 1,338,234 shares during the period. LSV Asset Management boosted its position in shares of Dropbox by 24.0% in the fourth quarter. LSV Asset Management now owns 6,446,121 shares of the company's stock worth $193,641,000 after purchasing an additional 1,245,563 shares during the period. KLP Kapitalforvaltning AS purchased a new stake in shares of Dropbox in the fourth quarter worth $25,375,000. Finally, Norges Bank bought a new stake in shares of Dropbox during the 4th quarter valued at $20,482,000. Hedge funds and other institutional investors own 94.84% of the company's stock.
Insider Buying and Selling
In other Dropbox news, insider Eric Cox sold 3,765 shares of the firm'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 directly owns 309,550 shares of the company's stock, valued at approximately $8,141,165. This trade represents a 1.20% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Timothy Regan sold 2,500 shares of the firm's stock in a transaction on Tuesday, April 15th. The stock was sold at an average price of $26.94, for a total transaction of $67,350.00. Following the transaction, the chief financial officer now directly owns 565,068 shares of the company's stock, valued at approximately $15,222,931.92. This trade represents a 0.44% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 26,792 shares of company stock worth $754,346 in the last ninety days. 29.95% of the stock is owned by insiders.
Dropbox Trading Down 0.1%
Shares of Dropbox stock traded down $0.02 on Tuesday, hitting $28.68. 388,340 shares of the company traded hands, compared to its average volume of 3,598,041. The company has a market cap of $8.07 billion, a PE ratio of 20.34, a PEG ratio of 1.70 and a beta of 0.68. The stock's 50 day moving average price is $27.50 and its 200-day moving average price is $28.70. Dropbox, Inc. has a 52 week low of $20.68 and a 52 week high of $33.33.
Dropbox (NASDAQ:DBX - Get Free Report) last issued its quarterly earnings data on Thursday, May 8th. The company reported $0.70 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.62 by $0.08. The company had revenue of $624.70 million for the quarter, compared to analyst estimates of $619.56 million. Dropbox had a net margin of 17.75% and a negative return on equity of 132.63%. Dropbox's revenue was down 1.0% compared to the same quarter last year. During the same period last year, the company posted $0.58 earnings per share. As a group, research analysts anticipate that Dropbox, Inc. will post 1.64 EPS for the current fiscal year.
Analysts Set New Price Targets
A number of equities research analysts have issued reports on DBX shares. UBS Group increased their price target on Dropbox from $30.00 to $31.00 and gave the stock a "buy" rating in a research note on Friday, May 9th. Citigroup lifted their price objective on shares of Dropbox from $30.00 to $32.00 and gave the company a "neutral" rating in a research report on Friday, May 9th.
Read Our Latest Report on DBX
About Dropbox
(
Free Report)
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.
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