Dropbox, Inc. (NASDAQ:DBX) Shares Sold by Maryland State Retirement & Pension System

Maryland State Retirement & Pension System reduced its holdings in Dropbox, Inc. (NASDAQ:DBX) by 11.1% in the 4th quarter, Holdings Channel reports. The institutional investor owned 12,631 shares of the company’s stock after selling 1,575 shares during the quarter. Maryland State Retirement & Pension System’s holdings in Dropbox were worth $379,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently modified their holdings of the business. EverSource Wealth Advisors LLC grew its position in Dropbox by 96.1% during the fourth quarter. EverSource Wealth Advisors LLC now owns 865 shares of the company’s stock worth $26,000 after buying an additional 424 shares during the period. Avion Wealth boosted its stake in shares of Dropbox by 4,472.7% during the 4th quarter. Avion Wealth now owns 1,006 shares of the company’s stock worth $30,000 after acquiring an additional 984 shares in the last quarter. SBI Securities Co. Ltd. acquired a new stake in shares of Dropbox in the 4th quarter worth approximately $40,000. Allworth Financial LP increased its stake in Dropbox by 33.5% in the 4th quarter. Allworth Financial LP now owns 1,456 shares of the company’s stock valued at $45,000 after purchasing an additional 365 shares in the last quarter. Finally, V Square Quantitative Management LLC raised its holdings in Dropbox by 39.0% during the fourth quarter. V Square Quantitative Management LLC now owns 1,717 shares of the company’s stock worth $52,000 after purchasing an additional 482 shares during the last quarter. 94.84% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

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

Insider Buying and Selling at Dropbox

In other Dropbox news, CFO Timothy Regan sold 2,500 shares of the business’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 transaction, the chief financial officer now directly owns 396,264 shares in the company, valued at approximately $12,755,738.16. The trade was a 0.63 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Eric Cox sold 3,765 shares of the firm’s stock in a transaction on Thursday, February 27th. The stock was sold at an average price of $26.30, for a total value of $99,019.50. Following the sale, the insider now owns 309,550 shares in the company, valued at $8,141,165. This trade represents a 1.20 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 634,504 shares of company stock worth $18,935,530. Corporate insiders own 28.59% of the company’s stock.

Dropbox Price Performance

Shares of DBX opened at $27.24 on Wednesday. Dropbox, Inc. has a 1-year low of $20.68 and a 1-year high of $33.33. The stock has a market cap of $8.22 billion, a price-to-earnings ratio of 19.32, a price-to-earnings-growth ratio of 1.70 and a beta of 0.77. The firm has a 50 day simple moving average of $29.25 and a 200-day simple moving average of $28.02.

Dropbox (NASDAQ:DBX) last released its quarterly earnings results on Thursday, February 20th. The company reported $0.51 earnings per share for the quarter, missing analysts’ consensus estimates of $0.62 by ($0.11). The company had revenue of $643.60 million during the quarter, compared to analyst estimates of $638.61 million. Dropbox had a negative return on equity of 132.63% and a net margin of 17.75%. On average, equities analysts expect that Dropbox, Inc. will post 1.64 earnings per share for the current fiscal 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.