Dropbox, Inc. (NASDAQ:DBX) Shares Acquired by California Public Employees Retirement System

California Public Employees Retirement System raised its stake in shares of Dropbox, Inc. (NASDAQ:DBX) by 2.1% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,727,055 shares of the company’s stock after purchasing an additional 35,137 shares during the quarter. California Public Employees Retirement System’s holdings in Dropbox were worth $50,914,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. DekaBank Deutsche Girozentrale boosted its holdings in shares of Dropbox by 65.8% in the 4th quarter. DekaBank Deutsche Girozentrale now owns 2,189,593 shares of the company’s stock valued at $64,825,000 after acquiring an additional 869,043 shares during the last quarter. Nordea Investment Management AB boosted its holdings in shares of Dropbox by 5.6% in the 3rd quarter. Nordea Investment Management AB now owns 2,146,895 shares of the company’s stock valued at $59,050,000 after acquiring an additional 113,947 shares during the last quarter. Jacobs Levy Equity Management Inc. boosted its holdings in shares of Dropbox by 5.4% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 4,418,927 shares of the company’s stock valued at $120,327,000 after acquiring an additional 227,633 shares during the last quarter. Pzena Investment Management LLC purchased a new stake in shares of Dropbox in the 3rd quarter valued at $463,000. Finally, Trexquant Investment LP purchased a new stake in shares of Dropbox in the 3rd quarter valued at $6,898,000. 94.84% of the stock is owned by hedge funds and other institutional investors.

Dropbox Stock Down 0.4 %

Shares of NASDAQ DBX opened at $23.93 on Friday. The company’s 50-day simple moving average is $23.83 and its 200-day simple moving average is $27.33. Dropbox, Inc. has a 52-week low of $19.55 and a 52-week high of $33.43. The firm has a market cap of $8.23 billion, a price-to-earnings ratio of 18.13, a price-to-earnings-growth ratio of 2.70 and a beta of 0.71.

Dropbox (NASDAQ:DBX) last posted its quarterly earnings results on Thursday, February 15th. The company reported $0.25 earnings per share for the quarter, missing the consensus estimate of $0.26 by ($0.01). The business had revenue of $635.00 million during the quarter, compared to analysts’ expectations of $630.77 million. Dropbox had a negative return on equity of 120.82% and a net margin of 18.13%. Equities research analysts anticipate that Dropbox, Inc. will post 1.14 EPS for the current fiscal year.

Insider Transactions at Dropbox

In other news, insider Bart Volkmer sold 6,682 shares of the firm’s stock in a transaction dated Monday, April 15th. The shares were sold at an average price of $23.12, for a total value of $154,487.84. Following the transaction, the insider now directly owns 372,332 shares of the company’s stock, valued at $8,608,315.84. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other Dropbox news, CFO Timothy Regan sold 3,000 shares of Dropbox stock in a transaction dated Tuesday, January 30th. The shares were sold at an average price of $32.50, for a total transaction of $97,500.00. Following the transaction, the chief financial officer now directly owns 434,761 shares of the company’s stock, valued at $14,129,732.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Bart Volkmer sold 6,682 shares of Dropbox stock in a transaction dated Monday, April 15th. The stock was sold at an average price of $23.12, for a total transaction of $154,487.84. Following the transaction, the insider now directly owns 372,332 shares in the company, valued at $8,608,315.84. The disclosure for this sale can be found here. Over the last three months, insiders have sold 189,721 shares of company stock valued at $4,548,575. Corporate insiders own 26.40% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the stock. Bank of America downgraded shares of Dropbox from a “buy” rating to an “underperform” rating and dropped their price objective for the company from $34.00 to $28.00 in a report on Friday, February 16th. KeyCorp raised their price target on shares of Dropbox from $32.00 to $37.00 and gave the company an “overweight” rating in a research report on Friday, January 19th. The Goldman Sachs Group lowered shares of Dropbox from a “neutral” rating to a “sell” rating and dropped their price target for the company from $26.00 to $24.00 in a research report on Friday, February 16th. JPMorgan Chase & Co. lowered shares of Dropbox from an “overweight” rating to a “neutral” rating and dropped their price target for the company from $33.00 to $30.00 in a research report on Friday, February 16th. Finally, Citigroup dropped their price target on shares of Dropbox from $31.00 to $27.00 and set a “neutral” rating on the stock in a research report on Friday, March 22nd. Three analysts have rated the stock with a sell rating, four have assigned a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, Dropbox currently has a consensus rating of “Hold” and a consensus target price of $29.78.

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.