Arizona State Retirement System Has $2.07 Million Position in Dropbox, Inc. (NASDAQ:DBX)

Arizona State Retirement System cut its holdings in Dropbox, Inc. (NASDAQ:DBX) by 1.1% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 68,956 shares of the company’s stock after selling 747 shares during the quarter. Arizona State Retirement System’s holdings in Dropbox were worth $2,071,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in DBX. Proficio Capital Partners LLC acquired a new stake in shares of Dropbox in the 4th quarter valued at $511,000. Charles Schwab Investment Management Inc. lifted its position 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 worth $87,537,000 after buying an additional 117,767 shares during the last quarter. SBI Securities Co. Ltd. bought a new stake in shares of Dropbox during the 4th quarter worth about $40,000. Fisher Asset Management LLC boosted its stake in shares of Dropbox by 26.6% during the 4th quarter. Fisher Asset Management LLC now owns 196,406 shares of the company’s stock worth $5,900,000 after acquiring an additional 41,275 shares in the last quarter. Finally, SVB Wealth LLC acquired a new position in shares of Dropbox during the 4th quarter valued at about $230,000. 94.84% of the stock is owned by institutional investors.

Insider Transactions at Dropbox

In related news, insider Eric Cox sold 3,765 shares of the stock in a transaction dated Thursday, February 27th. The shares were sold at an average price of $26.30, for a total value of $99,019.50. Following the completion of the sale, the insider now owns 309,550 shares in the company, valued at approximately $8,141,165. This trade represents a 1.20 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Timothy Regan sold 2,500 shares of the business’s stock in a transaction dated Monday, December 30th. The shares were sold at an average price of $30.38, for a total value of $75,950.00. Following the transaction, the chief financial officer now owns 413,764 shares in the company, valued at $12,570,150.32. This represents a 0.60 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 634,504 shares of company stock worth $18,935,530 over the last three months. 28.59% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

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

Dropbox Price Performance

Shares of DBX opened at $25.28 on Wednesday. Dropbox, Inc. has a one year low of $20.68 and a one year high of $33.33. The company’s fifty day moving average price is $29.97 and its 200 day moving average price is $27.89. The company has a market capitalization of $7.63 billion, a PE ratio of 17.93, a price-to-earnings-growth ratio of 1.70 and a beta of 0.77.

Dropbox (NASDAQ:DBX) last posted its quarterly earnings data on Thursday, February 20th. The company reported $0.51 earnings per share for the quarter, missing the consensus estimate of $0.62 by ($0.11). Dropbox had a negative return on equity of 132.63% and a net margin of 17.75%. The business had revenue of $643.60 million for the quarter, compared to analyst estimates of $638.61 million. Analysts anticipate that Dropbox, Inc. will post 1.64 earnings per share for the current year.

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.