Dropbox, Inc. (NASDAQ:DBX) Stake Reduced by Graphene Investments SAS

Graphene Investments SAS decreased its holdings in shares of Dropbox, Inc. (NASDAQ:DBX) by 22.7% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 97,500 shares of the company’s stock after selling 28,600 shares during the period. Dropbox makes up 2.0% of Graphene Investments SAS’s portfolio, making the stock its 29th biggest holding. Graphene Investments SAS’s holdings in Dropbox were worth $2,929,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. QRG Capital Management Inc. boosted its position in shares of Dropbox by 10.6% in the 3rd quarter. QRG Capital Management Inc. now owns 221,716 shares of the company’s stock valued at $5,638,000 after purchasing an additional 21,190 shares during the period. Aigen Investment Management LP acquired a new position in shares of Dropbox in the third quarter worth about $482,000. Retirement Systems of Alabama increased its position in shares of Dropbox by 15.2% in the third quarter. Retirement Systems of Alabama now owns 944,033 shares of the company’s stock worth $24,007,000 after acquiring an additional 124,528 shares in the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of 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 acquiring an additional 228,685 shares in the last quarter. Finally, Robeco Institutional Asset Management B.V. raised its holdings in shares of Dropbox by 6.1% during 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 acquiring an additional 134,503 shares during the period. Institutional investors and hedge funds own 94.84% of the company’s stock.

Insiders Place Their Bets

In related news, insider Eric Cox sold 2,330 shares of Dropbox stock in a transaction on Monday, November 18th. The shares were sold at an average price of $26.41, for a total value of $61,535.30. Following the completion of the sale, the insider now owns 321,871 shares of the company’s stock, valued at approximately $8,500,613.11. The trade was a 0.72 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Andrew Houston sold 132,000 shares of the stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $28.12, for a total transaction of $3,711,840.00. Following the transaction, the chief executive officer now directly owns 8,266,666 shares in the company, valued at $232,458,647.92. The trade was a 1.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 902,568 shares of company stock valued at $26,729,180 in the last three months. Insiders own 26.40% of the company’s stock.

Dropbox Stock Down 1.3 %

DBX stock opened at $32.20 on Friday. The company has a 50 day moving average of $30.28 and a two-hundred day moving average of $26.87. The company has a market cap of $9.97 billion, a price-to-earnings ratio of 18.61, a PEG ratio of 1.63 and a beta of 0.61. 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, November 7th. The company reported $0.36 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.52 by ($0.16). Dropbox had a negative return on equity of 135.85% and a net margin of 22.71%. The firm had revenue of $638.80 million for the quarter, compared to analysts’ expectations of $636.93 million. During the same quarter in the prior year, the business posted $0.35 earnings per share. On average, research analysts anticipate that Dropbox, Inc. will post 1.49 EPS for the current year.

Analyst Ratings Changes

Separately, Jefferies Financial Group boosted their target price on shares of Dropbox from $27.00 to $30.00 and gave the company a “hold” rating in a research note on Monday, January 6th. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat, Dropbox currently has an average rating of “Hold” and a consensus target price of $27.50.

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.