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

Commonwealth of Pennsylvania Public School Empls Retrmt SYS trimmed its position in shares of Dropbox, Inc. (NASDAQ:DBX) by 6.0% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm 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 filing with the Securities & Exchange Commission.

Other hedge funds have also bought and sold shares of the company. EverSource Wealth Advisors LLC lifted its holdings in shares of Dropbox by 96.1% in the 4th quarter. EverSource Wealth Advisors LLC now owns 865 shares of the company’s stock worth $26,000 after acquiring an additional 424 shares during the last quarter. Avion Wealth raised its position in Dropbox by 4,472.7% in 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 period. SBI Securities Co. Ltd. bought a new stake in Dropbox in the fourth quarter worth about $40,000. Allworth Financial LP boosted its position in shares of Dropbox by 33.5% during 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 period. Finally, V Square Quantitative Management LLC grew its stake in shares of Dropbox by 39.0% during 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 during the last quarter. Institutional investors own 94.84% of the company’s stock.

Dropbox Price Performance

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 firm’s 50-day moving average is $29.25 and its 200 day moving average is $28.02. The company has a market capitalization of $8.22 billion, a PE ratio of 19.32, a P/E/G ratio of 1.70 and a beta of 0.77.

Dropbox (NASDAQ:DBX) last issued its earnings results on Thursday, February 20th. The company reported $0.51 EPS for the quarter, missing analysts’ consensus estimates of $0.62 by ($0.11). Dropbox had a negative return on equity of 132.63% and a net margin of 17.75%. The company had revenue of $643.60 million during the quarter, compared to the consensus estimate of $638.61 million. Sell-side analysts forecast that Dropbox, Inc. will post 1.64 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Separately, Jefferies Financial Group raised their price target on Dropbox from $27.00 to $30.00 and gave the stock a “hold” rating in a research note on Monday, January 6th.

Insiders Place Their Bets

In other news, CEO Andrew Houston sold 500,323 shares of the company’s stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $29.65, for a total value of $14,834,576.95. Following the completion of the sale, the chief executive officer now owns 8,266,666 shares of the company’s stock, valued at approximately $245,106,646.90. This represents a 5.71 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Eric Cox sold 3,765 shares of Dropbox stock in a transaction that occurred on Thursday, February 27th. The shares were sold at an average price of $26.30, for a total transaction of $99,019.50. Following the transaction, the insider now directly owns 309,550 shares in the company, valued at approximately $8,141,165. The trade was 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 worth $18,935,530 in the last ninety days. 28.59% of the stock is owned by company insiders.

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.