QRG Capital Management Inc. Has $1.34 Million Stock Position in Dropbox, Inc. (NASDAQ:DBX)

QRG Capital Management Inc. reduced its position in Dropbox, Inc. (NASDAQ:DBX) by 79.9% during the 4th quarter, HoldingsChannel.com reports. The firm owned 44,672 shares of the company’s stock after selling 177,044 shares during the quarter. QRG Capital Management Inc.’s holdings in Dropbox were worth $1,342,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in DBX. Allworth Financial LP lifted its stake in shares of 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 during the last quarter. Quarry LP raised its holdings in Dropbox by 23.4% during the third quarter. Quarry LP now owns 2,424 shares of the company’s stock valued at $62,000 after buying an additional 459 shares in the last quarter. Aaron Wealth Advisors LLC lifted its position in shares of Dropbox by 4.8% in the fourth quarter. Aaron Wealth Advisors LLC now owns 10,151 shares of the company’s stock worth $305,000 after buying an additional 461 shares during the last quarter. Fifth Third Bancorp boosted its stake in shares of Dropbox by 35.6% during the 4th quarter. Fifth Third Bancorp now owns 1,798 shares of the company’s stock worth $54,000 after acquiring an additional 472 shares in the last quarter. Finally, V Square Quantitative Management LLC increased its holdings in shares of Dropbox by 39.0% during the 4th quarter. V Square Quantitative Management LLC now owns 1,717 shares of the company’s stock valued at $52,000 after acquiring an additional 482 shares during the last quarter. 94.84% of the stock is owned by hedge funds and other institutional investors.

Dropbox Trading Down 0.3 %

NASDAQ:DBX opened at $25.90 on Tuesday. The firm has a market capitalization of $8.02 billion, a PE ratio of 18.37, a PEG ratio of 1.70 and a beta of 0.61. Dropbox, Inc. has a 1 year low of $20.68 and a 1 year high of $33.33. The firm’s fifty day simple moving average is $30.52 and its 200 day simple moving average is $27.80.

Dropbox (NASDAQ:DBX) last issued its quarterly earnings results on Thursday, February 20th. The company reported $0.51 earnings per share (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 business had revenue of $643.60 million during the quarter, compared to analyst estimates of $638.61 million. As a group, analysts anticipate that Dropbox, Inc. will post 1.64 EPS for the current fiscal year.

Analysts Set New Price Targets

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.

Insiders Place Their Bets

In other Dropbox news, CEO Andrew Houston sold 137,499 shares of the stock in a transaction on Wednesday, December 11th. The shares were sold at an average price of $30.05, for a total value 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 represents a 1.64 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Eric Cox sold 3,765 shares of the business’s stock in a transaction dated Thursday, February 27th. The stock was sold at an average price of $26.30, for a total transaction of $99,019.50. Following the transaction, the insider now owns 309,550 shares in the company, valued at approximately $8,141,165. The trade was a 1.20 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 772,003 shares of company stock valued at $23,067,375 in the last three months. Company insiders own 28.59% of the company’s stock.

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.