Dropbox, Inc. (NASDAQ:DBX) Shares Sold by Retirement Systems of Alabama

Retirement Systems of Alabama trimmed its position in shares of Dropbox, Inc. (NASDAQ:DBX) by 1.9% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 926,477 shares of the company’s stock after selling 17,556 shares during the period. Retirement Systems of Alabama’s holdings in Dropbox were worth $27,831,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in DBX. QRG Capital Management Inc. lifted its stake in shares of Dropbox by 10.6% in the 3rd quarter. QRG Capital Management Inc. now owns 221,716 shares of the company’s stock valued at $5,638,000 after purchasing an additional 21,190 shares during the last quarter. Aigen Investment Management LP bought a new position in shares of Dropbox during the 3rd quarter worth about $482,000. Charles Schwab Investment Management Inc. increased its holdings in shares of Dropbox by 8.9% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,796,238 shares of the company’s stock worth $71,108,000 after purchasing an additional 228,685 shares during the period. Robeco Institutional Asset Management B.V. increased its holdings in shares of Dropbox by 6.1% during the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 2,355,762 shares of the company’s stock worth $59,907,000 after purchasing an additional 134,503 shares during the period. Finally, IVY Lane Capital Management LLC bought a new position in shares of Dropbox during the 3rd quarter worth about $3,179,000. 94.84% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Dropbox

In related news, CFO Timothy Regan sold 2,500 shares of the stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $27.17, for a total value of $67,925.00. Following the transaction, the chief financial officer now directly owns 436,264 shares in the company, valued at $11,853,292.88. This represents a 0.57 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Eric Cox sold 2,330 shares of the stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $26.41, for a total transaction of $61,535.30. Following the completion of the transaction, the insider now owns 321,871 shares in the company, valued at $8,500,613.11. This represents a 0.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 902,568 shares of company stock worth $26,729,180. Corporate insiders own 26.40% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Jefferies Financial Group upped their target price on shares of Dropbox from $27.00 to $30.00 and gave the company a “hold” rating in a research note on Monday, January 6th. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat, Dropbox presently has an average rating of “Hold” and a consensus target price of $27.50.

Dropbox Trading Up 0.8 %

Shares of Dropbox stock opened at $32.63 on Thursday. The stock has a market capitalization of $10.11 billion, a price-to-earnings ratio of 18.86, a P/E/G ratio of 1.63 and a beta of 0.61. Dropbox, Inc. has a 1-year low of $20.68 and a 1-year high of $33.43. The firm’s 50-day moving average price is $30.28 and its two-hundred day moving average price is $26.87.

Dropbox (NASDAQ:DBX) last announced its earnings results on Thursday, November 7th. The company reported $0.36 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.52 by ($0.16). Dropbox had a negative return on equity of 135.85% and a net margin of 22.71%. The company had revenue of $638.80 million for the quarter, compared to analyst estimates of $636.93 million. During the same quarter in the previous year, the company posted $0.35 earnings per share. As a group, equities research analysts predict that Dropbox, Inc. will post 1.49 EPS for the current year.

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.