Public Employees Retirement System of Ohio Has $4.09 Million Position in Dropbox, Inc. (NASDAQ:DBX)

Public Employees Retirement System of Ohio trimmed its holdings in Dropbox, Inc. (NASDAQ:DBX - Free Report) by 7.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 136,250 shares of the company's stock after selling 10,521 shares during the period. Public Employees Retirement System of Ohio's holdings in Dropbox were worth $4,093,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Empowered Funds LLC lifted its holdings in Dropbox by 68.0% during the 4th quarter. Empowered Funds LLC now owns 36,140 shares of the company's stock worth $1,086,000 after purchasing an additional 14,629 shares during the last quarter. Blue Trust Inc. lifted its holdings in Dropbox by 23.2% during the 4th quarter. Blue Trust Inc. now owns 3,616 shares of the company's stock worth $109,000 after purchasing an additional 682 shares during the last quarter. Janney Montgomery Scott LLC acquired a new stake in Dropbox during the 4th quarter worth approximately $656,000. Intech Investment Management LLC lifted its holdings in Dropbox by 185.2% during the 4th quarter. Intech Investment Management LLC now owns 150,488 shares of the company's stock worth $4,521,000 after purchasing an additional 97,725 shares during the last quarter. Finally, HighTower Advisors LLC increased its stake in Dropbox by 4.3% during the 4th quarter. HighTower Advisors LLC now owns 27,707 shares of the company's stock worth $832,000 after acquiring an additional 1,131 shares during the period. 94.84% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms have commented on DBX. Citigroup raised their price objective on Dropbox from $30.00 to $32.00 and gave the stock a "neutral" rating in a research note on Friday, May 9th. UBS Group raised their price objective on Dropbox from $30.00 to $31.00 and gave the stock a "buy" rating in a research note on Friday, May 9th.

Insider Activity

In other news, CFO Timothy Regan sold 2,500 shares of Dropbox stock in a transaction on Friday, March 28th. The stock was sold at an average price of $26.57, for a total value of $66,425.00. Following the transaction, the chief financial officer now owns 367,791 shares in the company, valued at approximately $9,772,206.87. This trade represents a 0.68% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Eric Cox sold 2,339 shares of the business's stock in a transaction on Friday, May 16th. The stock was sold at an average price of $28.94, for a total value of $67,690.66. Following the sale, the insider now owns 378,427 shares in the company, valued at $10,951,677.38. This represents a 0.61% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 30,027 shares of company stock worth $855,036. Insiders own 28.59% of the company's stock.

Dropbox Price Performance

Dropbox stock traded up $0.07 during mid-day trading on Friday, reaching $28.74. 3,236,382 shares of the company were exchanged, compared to its average volume of 3,496,275. The company has a fifty day simple moving average of $27.92 and a 200-day simple moving average of $28.77. Dropbox, Inc. has a 12 month low of $20.68 and a 12 month high of $33.33. The firm has a market cap of $8.09 billion, a PE ratio of 20.38, a PEG ratio of 1.70 and a beta of 0.68.

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

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.