Legal & General Group Plc Has $14.40 Million Stock Holdings in Dropbox, Inc. (NASDAQ:DBX)

Legal & General Group Plc reduced its position in shares of Dropbox, Inc. (NASDAQ:DBX) by 8.8% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 479,250 shares of the company’s stock after selling 46,057 shares during the quarter. Legal & General Group Plc owned about 0.15% of Dropbox worth $14,397,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in DBX. Arrowstreet Capital Limited Partnership raised its position in shares of Dropbox by 38.1% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 5,224,864 shares of the company’s stock worth $156,955,000 after purchasing an additional 1,440,887 shares during the period. Geode Capital Management LLC raised its holdings in Dropbox by 0.6% during the third quarter. Geode Capital Management LLC now owns 4,366,271 shares of the company’s stock worth $111,368,000 after buying an additional 25,893 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its stake in shares of Dropbox by 4.2% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,914,005 shares of the company’s stock valued at $87,537,000 after buying an additional 117,767 shares in the last quarter. Russell Investments Group Ltd. grew its holdings in shares of Dropbox by 5.0% during the fourth quarter. Russell Investments Group Ltd. now owns 2,410,194 shares of the company’s stock valued at $72,526,000 after buying an additional 114,646 shares during the last quarter. Finally, Retirement Systems of Alabama increased its position in shares of Dropbox by 15.2% during the third quarter. Retirement Systems of Alabama now owns 944,033 shares of the company’s stock worth $24,007,000 after acquiring an additional 124,528 shares in the last quarter. Institutional investors own 94.84% of the company’s stock.

Insider Activity

In other Dropbox news, CFO Timothy Regan sold 2,500 shares of the company’s stock in a transaction on Friday, February 7th. The stock was sold at an average price of $32.19, for a total value of $80,475.00. Following the completion of the transaction, the chief financial officer now owns 396,264 shares in the company, valued at $12,755,738.16. This represents a 0.63 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Andrew Houston sold 80,499 shares of the firm’s stock in a transaction on Tuesday, January 21st. The shares were sold at an average price of $30.97, for a total value of $2,493,054.03. Following the sale, the chief executive officer now directly owns 8,266,666 shares of the company’s stock, valued at approximately $256,018,646.02. This represents a 0.96 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 91,764 shares of company stock valued at $2,819,399 over the last three months. Corporate insiders own 28.59% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Dropbox Trading Up 0.7 %

Shares of NASDAQ:DBX opened at $26.93 on Wednesday. The stock has a market cap of $8.13 billion, a PE ratio of 19.10, a price-to-earnings-growth ratio of 1.70 and a beta of 0.75. The stock’s fifty day simple moving average is $27.57 and its two-hundred day simple moving average is $28.23. Dropbox, Inc. has a 1-year low of $20.68 and a 1-year high of $33.33.

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

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.