South Dakota Investment Council Grows Position in Dropbox, Inc. (NASDAQ:DBX)

South Dakota Investment Council raised its position in shares of Dropbox, Inc. (NASDAQ:DBX) by 132.4% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 34,400 shares of the company’s stock after acquiring an additional 19,600 shares during the period. South Dakota Investment Council’s holdings in Dropbox were worth $1,033,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of DBX. Pacer Advisors Inc. increased its position in Dropbox by 4.5% in the third quarter. Pacer Advisors Inc. now owns 7,788,652 shares of the company’s stock worth $198,065,000 after purchasing an additional 333,245 shares during the last quarter. Jacobs Levy Equity Management Inc. grew its stake 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 in the last quarter. Geode Capital Management LLC grew its stake 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 in the last quarter. Charles Schwab Investment Management Inc. increased its holdings 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. raised its position in shares of Dropbox by 6.1% during the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 2,355,762 shares of the company’s stock valued at $59,907,000 after buying an additional 134,503 shares in the last quarter. 94.84% of the stock is currently owned by institutional investors.

Dropbox Stock Down 16.2 %

NASDAQ DBX opened at $26.71 on Monday. Dropbox, Inc. has a 52 week low of $20.68 and a 52 week high of $33.33. The firm has a market capitalization of $8.27 billion, a price-to-earnings ratio of 18.94, a PEG ratio of 1.70 and a beta of 0.61. The company has a fifty day moving average of $30.99 and a two-hundred day moving average of $27.64.

Dropbox (NASDAQ:DBX) last released its quarterly earnings results on Thursday, February 20th. The company reported $0.51 EPS for the quarter, missing analysts’ consensus estimates of $0.62 by ($0.11). Dropbox had a negative return on equity of 132.63% and a net margin of 17.75%. The firm had revenue of $643.60 million for the quarter, compared to analysts’ expectations of $638.61 million. Equities research analysts anticipate that Dropbox, Inc. will post 1.64 EPS for the current year.

Analyst Ratings Changes

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

Insider Activity

In other news, CFO Timothy Regan sold 2,500 shares of the business’s stock in a transaction on Friday, February 7th. The shares were sold at an average price of $32.19, for a total transaction 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 approximately $12,755,738.16. The trade was a 0.63 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Andrew Houston sold 80,499 shares of the company’s stock in a transaction dated Tuesday, January 21st. The stock was sold at an average price of $30.97, for a total transaction of $2,493,054.03. Following the completion of the transaction, the chief executive officer now owns 8,266,666 shares in the company, valued at approximately $256,018,646.02. The trade was a 0.96 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 900,238 shares of company stock valued at $26,680,195. 28.59% of the stock is currently owned by insiders.

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.