Rhumbline Advisers Sells 23,621 Shares of Dropbox, Inc. (NASDAQ:DBX)

Rhumbline Advisers decreased its holdings in shares of Dropbox, Inc. (NASDAQ:DBX) by 3.6% during the 4th quarter, Holdings Channel reports. The firm owned 638,836 shares of the company’s stock after selling 23,621 shares during the quarter. Rhumbline Advisers’ holdings in Dropbox were worth $19,191,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Avion Wealth boosted its position in shares of Dropbox by 4,472.7% during the 4th quarter. Avion Wealth now owns 1,006 shares of the company’s stock valued at $30,000 after purchasing an additional 984 shares in the last quarter. Capital Performance Advisors LLP bought a new stake in shares of Dropbox during the 3rd quarter valued at about $28,000. V Square Quantitative Management LLC boosted its position in shares of Dropbox by 39.0% during the 4th quarter. V Square Quantitative Management LLC now owns 1,717 shares of the company’s stock valued at $52,000 after purchasing an additional 482 shares in the last quarter. Fifth Third Bancorp boosted its holdings in Dropbox by 35.6% in the fourth quarter. Fifth Third Bancorp now owns 1,798 shares of the company’s stock worth $54,000 after acquiring an additional 472 shares in the last quarter. Finally, Quarry LP boosted its holdings in Dropbox by 23.4% in the third quarter. Quarry LP now owns 2,424 shares of the company’s stock worth $62,000 after acquiring an additional 459 shares in the last quarter. Institutional investors own 94.84% of the company’s stock.

Insider Activity at Dropbox

In other Dropbox news, CEO Andrew Houston sold 137,499 shares of the firm’s stock in a transaction on Wednesday, December 11th. The stock was sold at an average price of $30.05, for a total value of $4,131,844.95. Following the completion of the sale, the chief executive officer now directly owns 8,266,666 shares of the company’s stock, valued at $248,413,313.30. This trade represents a 1.64 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CFO Timothy Regan sold 2,500 shares of the firm’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 sale, the chief financial officer now directly owns 396,264 shares of the company’s stock, valued at $12,755,738.16. This represents a 0.63 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 900,238 shares of company stock valued at $26,680,195. 28.59% of the stock is owned by insiders.

Dropbox Stock Performance

Shares of NASDAQ:DBX opened at $31.88 on Friday. The business’s 50 day simple moving average is $31.06 and its two-hundred day simple moving average is $27.51. The firm has a market cap of $9.87 billion, a P/E ratio of 18.43, a PEG ratio of 1.77 and a beta of 0.61. Dropbox, Inc. has a 52-week low of $20.68 and a 52-week high of $33.33.

Dropbox (NASDAQ:DBX) last issued its quarterly earnings data on Thursday, February 20th. The company reported $0.51 EPS for the quarter, missing the consensus estimate of $0.62 by ($0.11). Dropbox had a negative return on equity of 135.85% and a net margin of 22.71%. On average, equities analysts forecast that Dropbox, Inc. will post 1.49 earnings per share for the current fiscal year.

Analysts Set New Price Targets

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

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.