Dropbox, Inc. (NASDAQ:DBX) Position Reduced by Louisiana State Employees Retirement System

Louisiana State Employees Retirement System trimmed its stake in shares of Dropbox, Inc. (NASDAQ:DBX) by 6.1% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 61,800 shares of the company’s stock after selling 4,000 shares during the quarter. Louisiana State Employees Retirement System’s holdings in Dropbox were worth $1,856,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Pacer Advisors Inc. lifted its position in shares of Dropbox by 4.5% in the 3rd quarter. Pacer Advisors Inc. now owns 7,788,652 shares of the company’s stock worth $198,065,000 after buying an additional 333,245 shares during the last quarter. Jacobs Levy Equity Management Inc. lifted its position in shares of Dropbox by 6.2% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 6,239,493 shares of the company’s stock worth $158,670,000 after buying an additional 365,893 shares during the last quarter. Geode Capital Management LLC lifted its position in shares of Dropbox by 0.6% in the 3rd 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 position in shares of Dropbox by 8.9% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,796,238 shares of the company’s stock worth $71,108,000 after buying an additional 228,685 shares during the last quarter. Finally, Robeco Institutional Asset Management B.V. lifted its position in shares of Dropbox by 6.1% in the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 2,355,762 shares of the company’s stock worth $59,907,000 after buying an additional 134,503 shares during the last quarter. 94.84% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Separately, Jefferies Financial Group increased their price objective on shares of Dropbox from $27.00 to $30.00 and gave the stock a “hold” rating in a report on Monday, January 6th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $27.50.

Dropbox Trading Up 0.9 %

Dropbox stock opened at $32.78 on Friday. The stock has a market cap of $10.15 billion, a price-to-earnings ratio of 18.95, a PEG ratio of 1.64 and a beta of 0.61. The company’s 50-day moving average price is $30.80 and its two-hundred day moving average price is $27.28. Dropbox, Inc. has a 52 week low of $20.68 and a 52 week high of $33.33.

Insider Buying and Selling at Dropbox

In other news, insider Eric Cox sold 2,330 shares of Dropbox stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $26.41, for a total value of $61,535.30. Following the transaction, the insider now owns 321,871 shares of the company’s stock, valued at $8,500,613.11. The trade was a 0.72 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CFO Timothy Regan sold 2,500 shares of Dropbox stock in a transaction that occurred on Friday, February 7th. The stock was sold at an average price of $32.19, for a total transaction of $80,475.00. Following the completion of the transaction, the chief financial officer now directly owns 396,264 shares in the company, valued at $12,755,738.16. This represents a 0.63 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 902,568 shares of company stock valued at $26,741,730. Company insiders own 26.40% of the company’s stock.

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.