Maryland State Retirement & Pension System Cuts Stake in Dropbox, Inc. (NASDAQ:DBX)

Maryland State Retirement & Pension System lessened its holdings in Dropbox, Inc. (NASDAQ:DBX) by 11.1% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 12,631 shares of the company’s stock after selling 1,575 shares during the period. Maryland State Retirement & Pension System’s holdings in Dropbox were worth $379,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. EverSource Wealth Advisors LLC raised its holdings in Dropbox by 96.1% in the fourth quarter. EverSource Wealth Advisors LLC now owns 865 shares of the company’s stock valued at $26,000 after acquiring an additional 424 shares in the last quarter. Avion Wealth lifted its position in shares of Dropbox by 4,472.7% during the 4th quarter. Avion Wealth now owns 1,006 shares of the company’s stock worth $30,000 after purchasing an additional 984 shares during the last quarter. SBI Securities Co. Ltd. acquired a new position in shares of Dropbox during the fourth quarter worth $40,000. Allworth Financial LP increased its holdings in Dropbox by 33.5% in the fourth quarter. Allworth Financial LP now owns 1,456 shares of the company’s stock valued at $45,000 after buying an additional 365 shares during the last quarter. Finally, V Square Quantitative Management LLC raised its stake in Dropbox by 39.0% in the fourth quarter. V Square Quantitative Management LLC now owns 1,717 shares of the company’s stock valued at $52,000 after buying an additional 482 shares in the last quarter. Hedge funds and other institutional investors own 94.84% of the company’s stock.

Dropbox Price Performance

Shares of NASDAQ:DBX opened at $27.24 on Wednesday. Dropbox, Inc. has a 12 month low of $20.68 and a 12 month high of $33.33. The firm has a market capitalization of $8.22 billion, a P/E ratio of 19.32, a P/E/G ratio of 1.70 and a beta of 0.77. The company’s fifty day moving average price is $29.25 and its 200 day moving average price is $28.02.

Dropbox (NASDAQ:DBX) last posted its earnings results 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 firm had revenue of $643.60 million during the quarter, compared to analysts’ expectations of $638.61 million. Dropbox had a net margin of 17.75% and a negative return on equity of 132.63%. On average, sell-side analysts anticipate that Dropbox, Inc. will post 1.64 EPS for the current year.

Analyst Ratings Changes

Separately, Jefferies Financial Group increased their price objective on Dropbox from $27.00 to $30.00 and gave the company a “hold” rating in a report on Monday, January 6th.

Insider Transactions at Dropbox

In other Dropbox news, CFO Timothy Regan sold 2,500 shares of Dropbox stock in a transaction that occurred on Monday, December 30th. The stock was sold at an average price of $30.38, for a total value of $75,950.00. Following the transaction, the chief financial officer now directly owns 413,764 shares in the company, valued at approximately $12,570,150.32. This trade represents a 0.60 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Eric Cox sold 3,765 shares of the company’s stock in a transaction that occurred on Thursday, February 27th. The stock was sold at an average price of $26.30, for a total value of $99,019.50. Following the sale, the insider now 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 disclosure for this sale can be found here. Over the last ninety days, insiders have sold 634,504 shares of company stock worth $18,935,530. Insiders own 28.59% of the company’s stock.

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.