Dropbox, Inc. (NASDAQ:DBX) Shares Sold by Teachers Retirement System of The State of Kentucky

Teachers Retirement System of The State of Kentucky lowered its stake in Dropbox, Inc. (NASDAQ:DBX) by 4.5% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 86,676 shares of the company’s stock after selling 4,100 shares during the period. Teachers Retirement System of The State of Kentucky’s holdings in Dropbox were worth $2,555,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Jacobs Levy Equity Management Inc. boosted its holdings in Dropbox by 5.4% in the third quarter. Jacobs Levy Equity Management Inc. now owns 4,418,927 shares of the company’s stock worth $120,327,000 after purchasing an additional 227,633 shares during the period. LSV Asset Management grew its position in shares of Dropbox by 119.4% during the 4th quarter. LSV Asset Management now owns 3,305,730 shares of the company’s stock valued at $97,453,000 after buying an additional 1,799,030 shares during the last quarter. Charles Schwab Investment Management Inc. grew its position in shares of Dropbox by 3.4% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,990,186 shares of the company’s stock valued at $88,151,000 after buying an additional 98,568 shares during the last quarter. Nordea Investment Management AB raised its stake in Dropbox by 3.8% during the fourth quarter. Nordea Investment Management AB now owns 2,228,624 shares of the company’s stock worth $65,934,000 after acquiring an additional 81,729 shares during the period. Finally, DekaBank Deutsche Girozentrale lifted its holdings in Dropbox by 65.8% in the fourth quarter. DekaBank Deutsche Girozentrale now owns 2,189,593 shares of the company’s stock worth $64,825,000 after acquiring an additional 869,043 shares during the last quarter. Institutional investors and hedge funds own 94.84% of the company’s stock.

Analyst Ratings Changes

Separately, Citigroup dropped their price target on Dropbox from $31.00 to $27.00 and set a “neutral” rating on the stock in a research report on Friday, March 22nd. Three research 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. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $29.78.

Dropbox Trading Up 1.0 %

Shares of NASDAQ DBX opened at $20.96 on Friday. Dropbox, Inc. has a 12-month low of $20.68 and a 12-month high of $33.43. The company has a market cap of $6.92 billion, a PE ratio of 13.88, a P/E/G ratio of 1.44 and a beta of 0.68. The stock has a 50 day simple moving average of $22.79 and a 200-day simple moving average of $26.07.

Dropbox (NASDAQ:DBX) last announced its quarterly earnings results on Thursday, May 9th. The company reported $0.41 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.28 by $0.13. The company had revenue of $631.30 million during the quarter, compared to analyst estimates of $628.81 million. Dropbox had a negative return on equity of 148.13% and a net margin of 20.50%. Sell-side analysts forecast that Dropbox, Inc. will post 1.26 earnings per share for the current fiscal year.

Insider Buying and Selling at Dropbox

In other news, CFO Timothy Regan sold 3,000 shares of the company’s stock in a transaction that occurred on Wednesday, March 27th. The shares were sold at an average price of $24.36, for a total value 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 sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, insider Eric Cox sold 8,536 shares of the firm’s stock in a transaction dated Monday, June 10th. The stock was sold at an average price of $21.27, for a total transaction of $181,560.72. Following the completion of the transaction, the insider now owns 350,471 shares of the company’s stock, valued at $7,454,518.17. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Timothy Regan sold 3,000 shares of Dropbox stock in a transaction dated Wednesday, March 27th. The stock was sold at an average price of $24.36, for a total value of $73,080.00. Following the transaction, the chief financial officer now directly owns 400,720 shares in the company, valued at $9,761,539.20. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 201,218 shares of company stock valued at $4,607,699. Company insiders own 26.40% of the company’s stock.

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.