Public Employees Retirement Association of Colorado Has $593,000 Stock Position in Dropbox, Inc. (NASDAQ:DBX)

Public Employees Retirement Association of Colorado lessened its stake in shares of Dropbox, Inc. (NASDAQ:DBX) by 8.9% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 26,372 shares of the company’s stock after selling 2,578 shares during the quarter. Public Employees Retirement Association of Colorado’s holdings in Dropbox were worth $593,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in DBX. Vanguard Group Inc. grew its position in Dropbox by 0.4% in the 1st quarter. Vanguard Group Inc. now owns 27,379,532 shares of the company’s stock valued at $665,323,000 after purchasing an additional 105,250 shares during the period. Susquehanna Fundamental Investments LLC acquired a new position in shares of Dropbox during the first quarter valued at about $4,900,000. Lakewood Asset Management LLC bought a new stake in shares of Dropbox during the second quarter worth about $797,000. Janus Henderson Group PLC increased its position in shares of Dropbox by 16.4% during the first quarter. Janus Henderson Group PLC now owns 1,619,231 shares of the company’s stock worth $39,340,000 after acquiring an additional 228,316 shares in the last quarter. Finally, Hsbc Holdings PLC raised its holdings in shares of Dropbox by 224.5% in the 4th quarter. Hsbc Holdings PLC now owns 326,241 shares of the company’s stock worth $9,624,000 after acquiring an additional 225,713 shares during the last quarter. 94.84% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Dropbox news, CEO Andrew Houston sold 82,000 shares of the business’s stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $22.40, for a total value of $1,836,800.00. Following the transaction, the chief executive officer now directly owns 8,266,666 shares in the company, valued at $185,173,318.40. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other Dropbox news, CFO Timothy Regan sold 3,177 shares of the business’s stock in a transaction on Thursday, September 19th. The stock was sold at an average price of $25.00, for a total value of $79,425.00. Following the sale, the chief financial officer now directly owns 481,747 shares in the company, valued at $12,043,675. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Andrew Houston sold 82,000 shares of the company’s stock in a transaction on Monday, July 1st. The shares were sold at an average price of $22.40, for a total value of $1,836,800.00. Following the transaction, the chief executive officer now directly owns 8,266,666 shares in the company, valued at approximately $185,173,318.40. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 180,634 shares of company stock worth $4,243,915. Insiders own 26.40% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on DBX. UBS Group cut their price target on Dropbox from $30.00 to $28.00 and set a “buy” rating for the company in a research note on Friday, August 9th. Citigroup cut their target price on Dropbox from $26.00 to $25.00 and set a “neutral” rating on the stock in a research report on Wednesday, June 26th. Two analysts have rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $28.67.

Dropbox Stock Up 0.6 %

DBX stock opened at $24.98 on Friday. The firm has a market cap of $8.25 billion, a PE ratio of 16.54, a P/E/G ratio of 1.55 and a beta of 0.61. The business has a 50 day moving average of $23.72 and a 200-day moving average of $23.26. Dropbox, Inc. has a 12-month low of $20.68 and a 12-month high of $33.43.

Dropbox (NASDAQ:DBX) last announced its quarterly earnings data on Thursday, August 8th. The company reported $0.60 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.52 by $0.08. The firm had revenue of $634.50 million during the quarter, compared to the consensus estimate of $630.10 million. Dropbox had a negative return on equity of 161.78% and a net margin of 23.06%. The business’s revenue for the quarter was up 1.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.28 EPS. On average, research analysts expect that Dropbox, Inc. will post 1.31 earnings per share for the current 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.