Jacobs Levy Equity Management Inc. Reduces Holdings in Dropbox, Inc. (NASDAQ:DBX)

Jacobs Levy Equity Management Inc. lessened its holdings in Dropbox, Inc. (NASDAQ:DBX - Free Report) by 1.7% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 6,133,778 shares of the company's stock after selling 105,715 shares during the quarter. Jacobs Levy Equity Management Inc. owned approximately 1.98% of Dropbox worth $184,259,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of the business. Cooper Financial Group boosted its stake in Dropbox by 39.8% in the fourth quarter. Cooper Financial Group now owns 22,466 shares of the company's stock valued at $675,000 after acquiring an additional 6,395 shares in the last quarter. Oak Thistle LLC boosted its stake in Dropbox by 70.4% in the fourth quarter. Oak Thistle LLC now owns 32,249 shares of the company's stock valued at $969,000 after acquiring an additional 13,320 shares in the last quarter. Empirical Asset Management LLC acquired a new position in Dropbox in the fourth quarter valued at $229,000. Aaron Wealth Advisors LLC boosted its stake in Dropbox by 4.8% in the fourth quarter. Aaron Wealth Advisors LLC now owns 10,151 shares of the company's stock valued at $305,000 after acquiring an additional 461 shares in the last quarter. Finally, Nisa Investment Advisors LLC boosted its stake in Dropbox by 10.0% in the fourth quarter. Nisa Investment Advisors LLC now owns 5,389 shares of the company's stock valued at $162,000 after acquiring an additional 490 shares in the last quarter. Hedge funds and other institutional investors own 94.84% of the company's stock.

Dropbox Trading Down 0.3%

Shares of DBX traded down $0.09 during mid-day trading on Wednesday, hitting $29.61. 3,326,209 shares of the company's stock were exchanged, compared to its average volume of 3,603,575. Dropbox, Inc. has a fifty-two week low of $20.68 and a fifty-two week high of $33.33. The firm has a market capitalization of $8.93 billion, a P/E ratio of 21.00, a P/E/G ratio of 1.70 and a beta of 0.68. The business's 50 day moving average is $27.22 and its two-hundred day moving average is $28.59.

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

Insider Activity

In other 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 $8,141,165. This trade represents a 1.20% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Timothy Regan sold 2,500 shares of the firm's stock in a transaction that occurred 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 transaction, the chief financial officer now directly owns 367,791 shares of the company's stock, valued at approximately $9,772,206.87. This trade represents a 0.68% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 11,265 shares of company stock worth $303,520. Company insiders own 29.95% of the company's stock.

Wall Street Analysts Forecast Growth

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

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.