Voya Investment Management LLC Has $67.40 Million Position in Dropbox, Inc. (NASDAQ:DBX)

Voya Investment Management LLC lowered its position in Dropbox, Inc. (NASDAQ:DBX - Free Report) by 2.7% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 2,243,599 shares of the company's stock after selling 63,250 shares during the quarter. Voya Investment Management LLC owned 0.72% of Dropbox worth $67,398,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Banco Bilbao Vizcaya Argentaria S.A. increased its holdings in Dropbox by 5.1% in the 4th quarter. Banco Bilbao Vizcaya Argentaria S.A. now owns 8,419 shares of the company's stock valued at $256,000 after buying an additional 407 shares during the period. Pinebridge Investments L.P. increased its stake in Dropbox by 48.6% in the fourth quarter. Pinebridge Investments L.P. now owns 134,459 shares of the company's stock valued at $4,039,000 after acquiring an additional 43,985 shares during the period. Hsbc Holdings PLC raised its position in Dropbox by 2.4% in the fourth quarter. Hsbc Holdings PLC now owns 39,241 shares of the company's stock worth $1,184,000 after purchasing an additional 929 shares in the last quarter. Stifel Financial Corp bought a new position in Dropbox during the fourth quarter worth about $935,000. Finally, Tower Research Capital LLC TRC boosted its stake in Dropbox by 90.5% in the 4th quarter. Tower Research Capital LLC TRC now owns 13,703 shares of the company's stock valued at $412,000 after buying an additional 6,509 shares in the last quarter. 94.84% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Separately, Jefferies Financial Group lifted their price target on shares of Dropbox from $27.00 to $30.00 and gave the company a "hold" rating in a report on Monday, January 6th.

Insider Activity

In other Dropbox news, insider Eric Cox sold 3,765 shares of the firm's stock in a transaction dated Thursday, February 27th. The stock was sold at an average price of $26.30, for a total transaction of $99,019.50. Following the transaction, the insider now owns 309,550 shares in the company, valued at approximately $8,141,165. This trade represents a 1.20 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Timothy Regan sold 2,500 shares of the company's stock in a transaction dated Friday, February 7th. The shares were sold at an average price of $32.19, for a total value of $80,475.00. Following the completion of the sale, the chief financial officer now directly owns 396,264 shares of the company's stock, valued at approximately $12,755,738.16. This trade represents a 0.63 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 13,765 shares of company stock valued at $393,695. 28.59% of the stock is currently owned by insiders.

Dropbox Stock Down 1.2 %

NASDAQ:DBX traded down $0.33 during mid-day trading on Wednesday, reaching $28.34. 837,255 shares of the company were exchanged, compared to its average volume of 3,621,223. The stock has a market cap of $8.55 billion, a PE ratio of 20.10, a PEG ratio of 1.70 and a beta of 0.75. Dropbox, Inc. has a 12 month low of $20.68 and a 12 month high of $33.33. The company has a fifty day moving average of $26.63 and a 200 day moving average of $28.38.

Dropbox (NASDAQ:DBX - Get Free Report) last posted its quarterly earnings data on Thursday, February 20th. The company reported $0.51 earnings per share for the quarter, missing the consensus estimate of $0.62 by ($0.11). The company had revenue of $643.60 million during the quarter, compared to the consensus estimate of $638.61 million. Dropbox had a negative return on equity of 132.63% and a net margin of 17.75%. On average, equities research analysts anticipate that Dropbox, Inc. will post 1.64 EPS for the current fiscal year.

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.