Dropbox, Inc. (NASDAQ:DBX) Shares Sold by QRG Capital Management Inc.

QRG Capital Management Inc. reduced its position in shares of Dropbox, Inc. (NASDAQ:DBX) by 79.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 44,672 shares of the company’s stock after selling 177,044 shares during the period. QRG Capital Management Inc.’s holdings in Dropbox were worth $1,342,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Aigen Investment Management LP bought a new position in shares of Dropbox during the 3rd quarter valued at about $482,000. Retirement Systems of Alabama boosted its holdings in Dropbox by 15.2% during the third quarter. Retirement Systems of Alabama now owns 944,033 shares of the company’s stock worth $24,007,000 after buying an additional 124,528 shares in the last quarter. Charles Schwab Investment Management Inc. grew its position in Dropbox by 8.9% in the third 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. Robeco Institutional Asset Management B.V. increased its holdings in shares of Dropbox by 6.1% in the third 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. Finally, IVY Lane Capital Management LLC acquired a new stake in shares of Dropbox during the 3rd quarter valued at $3,179,000. 94.84% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Separately, Jefferies Financial Group lifted 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 $25.90 on Tuesday. The company has a 50-day moving average of $30.52 and a two-hundred day moving average of $27.80. The stock has a market cap of $8.02 billion, a price-to-earnings ratio of 18.37, a PEG ratio of 1.70 and a beta of 0.61. Dropbox, Inc. has a one year low of $20.68 and a one year high of $33.33.

Dropbox (NASDAQ:DBX) last issued its quarterly earnings results 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 net margin of 17.75% and a negative return on equity of 132.63%. The firm had revenue of $643.60 million during the quarter, compared to analysts’ expectations of $638.61 million. Analysts anticipate that Dropbox, Inc. will post 1.64 earnings per share for the current year.

Insider Transactions at Dropbox

In other news, CFO Timothy Regan sold 2,500 shares of the company’s stock in a transaction dated Monday, December 30th. The stock was 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Andrew Houston sold 137,499 shares of the stock in a transaction that occurred on Wednesday, December 11th. The stock was sold at an average price of $30.05, for a total transaction 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 disclosure for this sale can be found here. Insiders sold a total of 772,003 shares of company stock valued at $23,067,375 over the last quarter. Company insiders own 28.59% 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.