Rhumbline Advisers Sells 24,362 Shares of Dropbox, Inc. (NASDAQ:DBX)

Rhumbline Advisers trimmed its holdings in shares of Dropbox, Inc. (NASDAQ:DBX - Free Report) by 3.8% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 614,474 shares of the company's stock after selling 24,362 shares during the period. Rhumbline Advisers owned about 0.22% of Dropbox worth $16,413,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the business. LSV Asset Management raised its stake 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 during the period. Arrowstreet Capital Limited Partnership raised its stake 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 worth $156,955,000 after purchasing an additional 1,440,887 shares during the period. AQR Capital Management LLC raised its stake in shares of Dropbox by 3.0% during the 4th quarter. AQR Capital Management LLC now owns 3,332,516 shares of the company's stock worth $99,842,000 after purchasing an additional 97,551 shares during the period. Charles Schwab Investment Management Inc. raised its stake in shares of Dropbox by 4.2% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,914,005 shares of the company's stock worth $87,537,000 after purchasing an additional 117,767 shares during the period. Finally, Dimensional Fund Advisors LP increased its holdings in Dropbox by 3.2% in the 4th quarter. Dimensional Fund Advisors LP now owns 2,646,502 shares of the company's stock worth $79,505,000 after acquiring an additional 82,284 shares during the last quarter. 94.84% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

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

Dropbox Stock Down 0.1%

Shares of DBX opened at $29.47 on Friday. Dropbox, Inc. has a twelve month low of $20.68 and a twelve month high of $33.33. The stock has a market cap of $8.30 billion, a PE ratio of 20.90, a P/E/G ratio of 1.70 and a beta of 0.66. The business's 50-day moving average price is $28.17 and its 200-day moving average price is $28.85.

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

Insider Transactions at Dropbox

In other news, CFO Timothy Regan sold 2,500 shares of the business's stock in a transaction dated Tuesday, April 15th. The stock was sold at an average price of $26.94, for a total transaction of $67,350.00. Following the completion of the transaction, the chief financial officer now owns 565,068 shares of the company's stock, valued at approximately $15,222,931.92. The trade was a 0.44% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider William T. Yoon sold 5,449 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 $157,694.06. Following the completion of the sale, the insider now directly owns 245,837 shares of the company's stock, valued at approximately $7,114,522.78. This represents a 2.17% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 32,527 shares of company stock valued at $926,986. 29.95% of the stock is owned by corporate insiders.

Dropbox Company 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.

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