QRG Capital Management Inc. Has $6.68 Million Stake in Dropbox, Inc. (NASDAQ:DBX)

QRG Capital Management Inc. boosted its stake in Dropbox, Inc. (NASDAQ:DBXFree Report) by 3.3% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 226,730 shares of the company’s stock after buying an additional 7,258 shares during the quarter. QRG Capital Management Inc. owned approximately 0.07% of Dropbox worth $6,684,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. GAMMA Investing LLC acquired a new stake in Dropbox in the 4th quarter valued at $25,000. Contravisory Investment Management Inc. acquired a new position in Dropbox in the fourth quarter worth $26,000. Fifth Third Bancorp boosted its stake in Dropbox by 424.2% in the third 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 boosted its stake in Dropbox by 29,175.0% in the third 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. Finally, Principal Securities Inc. acquired a new position in Dropbox in the fourth quarter worth $34,000. Institutional investors and hedge funds own 94.84% of the company’s stock.

Insider Activity at Dropbox

In related news, CEO Andrew Houston sold 164,000 shares of the company’s stock in a transaction dated Tuesday, March 5th. The stock was sold at an average price of $23.86, for a total value of $3,913,040.00. Following the completion of the sale, the chief executive officer now owns 8,266,666 shares in the company, valued at $197,242,650.76. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, CFO Timothy Regan sold 3,000 shares of the stock in a transaction that occurred on Wednesday, March 27th. The stock was sold at an average price of $24.36, for a total transaction of $73,080.00. Following the completion of the sale, the chief financial officer now directly owns 400,720 shares of the company’s stock, valued at approximately $9,761,539.20. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Andrew Houston sold 164,000 shares of Dropbox stock in a transaction that occurred on Tuesday, March 5th. The shares were sold at an average price of $23.86, for a total transaction of $3,913,040.00. Following the completion of the transaction, the chief executive officer now directly owns 8,266,666 shares in the company, valued at approximately $197,242,650.76. The disclosure for this sale can be found here. Over the last quarter, insiders sold 271,721 shares of company stock worth $6,443,955. 26.40% of the stock is owned by insiders.

Dropbox Price Performance

Shares of DBX stock traded up $0.76 on Monday, reaching $23.89. 2,432,568 shares of the stock were exchanged, compared to its average volume of 3,929,321. The stock has a market cap of $8.22 billion, a PE ratio of 15.32, a P/E/G ratio of 2.60 and a beta of 0.70. Dropbox, Inc. has a one year low of $21.72 and a one year high of $33.43. The stock has a 50 day moving average price of $23.71 and a 200 day moving average price of $27.02.

Dropbox (NASDAQ:DBXGet Free Report) last released its quarterly earnings data on Thursday, May 9th. The company reported $0.41 EPS for the quarter, beating analysts’ consensus estimates of $0.28 by $0.13. The business had revenue of $631.30 million during the quarter, compared to the consensus estimate of $628.81 million. Dropbox had a negative return on equity of 148.13% and a net margin of 20.50%. On average, research analysts expect that Dropbox, Inc. will post 1.14 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on DBX shares. KeyCorp boosted their price objective on Dropbox from $32.00 to $37.00 and gave the stock an “overweight” rating in a research note on Friday, January 19th. JMP Securities lowered Dropbox from an “outperform” rating to a “market perform” rating in a research note on Friday, February 16th. JPMorgan Chase & Co. lowered Dropbox from an “overweight” rating to a “neutral” rating and reduced their price objective for the stock from $33.00 to $30.00 in a research note on Friday, February 16th. Citigroup reduced their price objective on Dropbox from $31.00 to $27.00 and set a “neutral” rating on the stock in a research note on Friday, March 22nd. Finally, The Goldman Sachs Group downgraded Dropbox from a “neutral” rating to a “sell” rating and dropped their target price for the stock from $26.00 to $24.00 in a research report on Friday, February 16th. Three equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $29.78.

View Our Latest Report on DBX

Dropbox Company Profile

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for Dropbox (NASDAQ:DBX)

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