Voloridge Investment Management LLC Sells 832,213 Shares of Dropbox, Inc. (NASDAQ:DBX)

Voloridge Investment Management LLC lowered its position in shares of Dropbox, Inc. (NASDAQ:DBX - Free Report) by 39.0% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,300,160 shares of the company's stock after selling 832,213 shares during the quarter. Voloridge Investment Management LLC owned about 0.42% of Dropbox worth $39,057,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Arrowstreet Capital Limited Partnership grew 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 worth $156,955,000 after buying an additional 1,440,887 shares in the last quarter. Caisse DE Depot ET Placement DU Quebec lifted its position in shares of Dropbox by 291.2% during the 4th quarter. Caisse DE Depot ET Placement DU Quebec now owns 1,797,823 shares of the company's stock valued at $54,007,000 after acquiring an additional 1,338,234 shares during the period. LSV Asset Management grew its holdings 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 worth $193,641,000 after purchasing an additional 1,245,563 shares in the last quarter. KLP Kapitalforvaltning AS bought a new position in shares of Dropbox in the fourth quarter worth $25,375,000. Finally, Norges Bank acquired a new position in Dropbox in the fourth quarter valued at about $20,482,000. Institutional investors own 94.84% of the company's stock.

Analyst Ratings Changes

A number of brokerages have issued reports on DBX. UBS Group increased their price objective on shares of Dropbox from $30.00 to $31.00 and gave the stock a "buy" rating in a research note on Friday, May 9th. Citigroup increased their price target on shares of Dropbox from $30.00 to $32.00 and gave the stock a "neutral" rating in a research report on Friday, May 9th.

Insider Activity at Dropbox

In other news, Director Lisa M. Campbell sold 5,239 shares of the company's stock in a transaction that occurred on Friday, May 16th. The stock was sold at an average price of $28.94, for a total value of $151,616.66. Following the completion of the transaction, the director now owns 19,220 shares of the company's stock, valued at $556,226.80. This represents a 21.42% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, 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 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 disclosure for this sale can be found here. In the last three months, insiders have sold 26,792 shares of company stock valued at $754,346. 29.95% of the stock is owned by insiders.

Dropbox Stock Down 0.5%

Shares of DBX traded down $0.15 during midday trading on Monday, hitting $28.59. The company's stock had a trading volume of 2,825,916 shares, compared to its average volume of 3,595,148. Dropbox, Inc. has a one year low of $20.68 and a one year high of $33.33. The stock has a market capitalization of $8.05 billion, a price-to-earnings ratio of 20.28, a price-to-earnings-growth ratio of 1.70 and a beta of 0.68. The company's fifty day simple moving average is $27.74 and its two-hundred day simple moving average is $28.74.

Dropbox (NASDAQ:DBX - Get Free Report) last released its earnings results on Thursday, May 8th. The company reported $0.70 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.62 by $0.08. The firm had revenue of $624.70 million for the quarter, compared to analysts' expectations of $619.56 million. Dropbox had a negative return on equity of 132.63% and a net margin of 17.75%. The business's revenue for the quarter was down 1.0% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.58 earnings per share. On average, research analysts predict that Dropbox, Inc. will post 1.64 earnings per share for the current year.

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.