California Public Employees Retirement System Has $50.91 Million Holdings in Dropbox, Inc. (NASDAQ:DBX)

California Public Employees Retirement System grew its position in Dropbox, Inc. (NASDAQ:DBX - Free Report) by 2.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,727,055 shares of the company's stock after buying an additional 35,137 shares during the quarter. California Public Employees Retirement System owned 0.50% of Dropbox worth $50,914,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in DBX. Contravisory Investment Management Inc. purchased a new stake in Dropbox during the 4th quarter worth about $26,000. Fifth Third Bancorp increased its position in Dropbox by 424.2% during the 3rd quarter. Fifth Third Bancorp now owns 1,085 shares of the company's stock worth $30,000 after purchasing an additional 878 shares in the last quarter. Cary Street Partners Investment Advisory LLC increased its position in Dropbox by 29,175.0% during the 3rd quarter. Cary Street Partners Investment Advisory LLC now owns 1,171 shares of the company's stock worth $32,000 after purchasing an additional 1,167 shares in the last quarter. Kingswood Wealth Advisors LLC purchased a new stake in Dropbox during the 3rd quarter worth about $62,000. Finally, Shell Asset Management Co. increased its position in Dropbox by 51.4% during the 3rd quarter. Shell Asset Management Co. now owns 2,643 shares of the company's stock worth $72,000 after purchasing an additional 897 shares in the last quarter. Hedge funds and other institutional investors own 94.84% of the company's stock.

Insider Buying and Selling

In related news, insider Bart Volkmer sold 6,682 shares of the business's stock in a transaction that occurred on Monday, April 15th. The stock was sold at an average price of $23.12, for a total transaction of $154,487.84. Following the transaction, the insider now directly owns 372,332 shares of the company's stock, valued at approximately $8,608,315.84. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CFO Timothy Regan sold 3,000 shares of the business's stock in a transaction that occurred on Monday, April 15th. The stock was sold at an average price of $23.11, for a total transaction of $69,330.00. Following the transaction, the chief financial officer now directly owns 594,995 shares of the company's stock, valued at approximately $13,750,334.45. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Bart Volkmer sold 6,682 shares of the business's stock in a transaction that occurred on Monday, April 15th. The stock was sold at an average price of $23.12, for a total value of $154,487.84. Following the transaction, the insider now directly owns 372,332 shares in the company, valued at $8,608,315.84. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 189,721 shares of company stock valued at $4,548,575. Corporate insiders own 26.40% of the company's stock.

Analyst Ratings Changes

Several research firms have commented on DBX. The Goldman Sachs Group cut Dropbox from a "neutral" rating to a "sell" rating and lowered their price target for the company from $26.00 to $24.00 in a report on Friday, February 16th. KeyCorp lifted their price target on Dropbox from $32.00 to $37.00 and gave the company an "overweight" rating in a report on Friday, January 19th. Bank of America cut Dropbox from a "buy" rating to an "underperform" rating and lowered their price target for the company from $34.00 to $28.00 in a report on Friday, February 16th. JMP Securities cut Dropbox from an "outperform" rating to a "market perform" rating in a report on Friday, February 16th. Finally, Citigroup lowered their price target on Dropbox from $31.00 to $27.00 and set a "neutral" rating for the company in a report on Friday, March 22nd. Three research analysts have rated the stock with a sell rating, four have given a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, Dropbox presently has a consensus rating of "Hold" and a consensus target price of $29.78.

Dropbox Stock Performance

Shares of NASDAQ:DBX traded up $0.22 during trading on Friday, reaching $24.15. 2,178,265 shares of the stock were exchanged, compared to its average volume of 3,874,049. Dropbox, Inc. has a 12-month low of $19.55 and a 12-month high of $33.43. The firm has a market cap of $8.31 billion, a price-to-earnings ratio of 18.30, a price-to-earnings-growth ratio of 2.70 and a beta of 0.71. The firm's 50-day moving average price is $23.81 and its 200 day moving average price is $27.30.

Dropbox (NASDAQ:DBX - Get Free Report) last issued its earnings results on Thursday, February 15th. The company reported $0.25 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.26 by ($0.01). Dropbox had a negative return on equity of 120.82% and a net margin of 18.13%. The firm had revenue of $635.00 million for the quarter, compared to analysts' expectations of $630.77 million. As a group, equities research analysts forecast that Dropbox, Inc. will post 1.14 EPS 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.