Commonwealth of Pennsylvania Public School Empls Retrmt SYS Decreases Stock Holdings in Dropbox, Inc. (NASDAQ:DBX)

Commonwealth of Pennsylvania Public School Empls Retrmt SYS lessened its stake in shares of Dropbox, Inc. (NASDAQ:DBX) by 6.0% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 49,160 shares of the company’s stock after selling 3,138 shares during the quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS’s holdings in Dropbox were worth $1,477,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Teacher Retirement System of Texas lifted its position in Dropbox by 70.7% during the fourth quarter. Teacher Retirement System of Texas now owns 243,626 shares of the company’s stock valued at $7,319,000 after purchasing an additional 100,886 shares during the period. Harvest Fund Management Co. Ltd bought a new position in shares of Dropbox during the 4th quarter valued at $592,000. Intech Investment Management LLC lifted its holdings in shares of Dropbox by 185.2% during the 4th quarter. Intech Investment Management LLC now owns 150,488 shares of the company’s stock valued at $4,521,000 after buying an additional 97,725 shares during the period. Generali Asset Management SPA SGR purchased a new position in shares of Dropbox in the 4th quarter worth $99,000. Finally, Corient Private Wealth LLC grew its holdings in shares of Dropbox by 164.3% in the fourth quarter. Corient Private Wealth LLC now owns 26,585 shares of the company’s stock worth $798,000 after acquiring an additional 16,527 shares during the period. Hedge funds and other institutional investors own 94.84% of the company’s stock.

Dropbox Trading Up 0.4 %

Shares of DBX stock 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 stock has a market cap 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 has a 50 day simple moving average of $29.25 and a two-hundred day simple moving average of $28.02.

Dropbox (NASDAQ:DBX) last posted its quarterly earnings data on Thursday, February 20th. The company reported $0.51 EPS 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 analysts’ expectations of $638.61 million. Dropbox had a negative return on equity of 132.63% and a net margin of 17.75%. As a group, equities analysts forecast that Dropbox, Inc. will post 1.64 earnings per share for the current year.

Wall Street Analyst Weigh In

Separately, Jefferies Financial Group increased their target price 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 news, CFO Timothy Regan sold 2,500 shares of the company’s stock in a transaction dated Monday, December 30th. The stock was sold at an average price of $30.38, for a total value of $75,950.00. Following the completion of the transaction, the chief financial officer now owns 413,764 shares of the company’s stock, valued at $12,570,150.32. This represents a 0.60 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Eric Cox sold 3,765 shares of the business’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 completion of the transaction, the insider now directly owns 309,550 shares in the company, valued at approximately $8,141,165. This represents a 1.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 634,504 shares of company stock valued at $18,935,530 over the last quarter. 28.59% of the stock is currently owned by company insiders.

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.