QRG Capital Management Inc. Has $927,000 Position in Dropbox, Inc. (NASDAQ:DBX)

QRG Capital Management Inc. lessened its holdings in shares of Dropbox, Inc. (NASDAQ:DBX - Free Report) by 22.3% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 34,720 shares of the company's stock after selling 9,952 shares during the quarter. QRG Capital Management Inc.'s holdings in Dropbox were worth $927,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Wedge Capital Management L L P NC increased its position in shares of Dropbox by 1,640.3% during the first quarter. Wedge Capital Management L L P NC now owns 2,141,026 shares of the company's stock worth $57,187,000 after acquiring an additional 2,017,997 shares in the last quarter. Arrowstreet Capital Limited Partnership lifted its position in shares of Dropbox by 38.1% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 5,224,864 shares of the company's stock worth $156,955,000 after purchasing 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% 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 in the last quarter. LSV Asset Management increased its stake in Dropbox by 24.0% in the 4th quarter. LSV Asset Management now owns 6,446,121 shares of the company's stock valued at $193,641,000 after buying an additional 1,245,563 shares during the last quarter. Finally, KLP Kapitalforvaltning AS acquired a new stake in Dropbox in the 4th quarter valued at $25,375,000. 94.84% of the stock is currently owned by institutional investors.

Dropbox Price Performance

NASDAQ DBX traded up $0.12 on Tuesday, hitting $28.84. 2,980,760 shares of the stock were exchanged, compared to its average volume of 3,395,638. The company has a market capitalization of $8.12 billion, a PE ratio of 18.85 and a beta of 0.66. The business's fifty day moving average is $28.61 and its 200 day moving average is $28.88. Dropbox, Inc. has a 52 week low of $21.32 and a 52 week high of $33.33.

Dropbox (NASDAQ:DBX - Get Free Report) last issued its earnings results 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 business had revenue of $624.70 million during the quarter, compared to the consensus estimate of $619.56 million. Dropbox had a net margin of 18.50% and a negative return on equity of 79.66%. Dropbox's revenue was down 1.0% on a year-over-year basis. During the same period last year, the business posted $0.58 EPS. Analysts predict that Dropbox, Inc. will post 1.64 EPS for the current fiscal year.

Analysts Set New Price Targets

DBX has been the subject of several analyst reports. UBS Group raised their price objective on Dropbox from $30.00 to $31.00 and gave the company a "buy" rating in a report on Friday, May 9th. Citigroup raised their price target on Dropbox from $30.00 to $32.00 and gave the company a "neutral" rating in a research note on Friday, May 9th.

Insider Transactions at Dropbox

In other Dropbox news, CFO Timothy Regan sold 2,500 shares of the firm's stock in a transaction on Friday, March 28th. The stock was sold at an average price of $26.57, for a total transaction of $66,425.00. Following the completion of the sale, the chief financial officer now owns 367,791 shares of the company's stock, valued at $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 available through this hyperlink. Also, insider William T. Yoon sold 5,449 shares of the company's stock in a transaction on Friday, May 16th. The shares were sold at an average price of $28.94, for a total transaction of $157,694.06. Following the completion of the transaction, the insider now owns 245,837 shares in the company, valued at approximately $7,114,522.78. This represents a 2.17% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 364,125 shares of company stock worth $10,366,110. 28.59% of the stock is owned by company insiders.

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.