Caz Investments LP Decreases Position in Dropbox, Inc. (NASDAQ:DBX)

Caz Investments LP trimmed its position in shares of Dropbox, Inc. (NASDAQ:DBX) by 66.7% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 3,000 shares of the company’s stock after selling 6,000 shares during the period. Dropbox comprises about 0.1% of Caz Investments LP’s portfolio, making the stock its 15th biggest position. Caz Investments LP’s holdings in Dropbox were worth $90,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the company. Natixis Advisors LLC purchased a new stake in shares of Dropbox during the third quarter worth approximately $270,000. Thrivent Financial for Lutherans lifted its stake in Dropbox by 12.6% in the 3rd quarter. Thrivent Financial for Lutherans now owns 65,771 shares of the company’s stock valued at $1,672,000 after buying an additional 7,385 shares in the last quarter. Charles Schwab Investment Management Inc. increased its position in Dropbox by 8.9% during 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 in the last quarter. Cerity Partners LLC raised its holdings in shares of Dropbox by 21.2% in the third quarter. Cerity Partners LLC now owns 96,537 shares of the company’s stock worth $2,455,000 after acquiring an additional 16,917 shares during the last quarter. Finally, Fisher Asset Management LLC lifted its position in shares of Dropbox by 8.6% in the third quarter. Fisher Asset Management LLC now owns 155,131 shares of the company’s stock valued at $3,945,000 after acquiring an additional 12,248 shares in the last quarter. 94.84% of the stock is owned by hedge funds and other institutional investors.

Dropbox Price Performance

NASDAQ DBX opened at $26.56 on Friday. The company has a market cap of $8.01 billion, a P/E ratio of 18.84, a P/E/G ratio of 1.70 and a beta of 0.77. Dropbox, Inc. has a 12 month low of $20.68 and a 12 month high of $33.33. The company has a 50-day moving average of $29.03 and a 200-day moving average of $28.03.

Dropbox (NASDAQ:DBX) last issued its quarterly earnings data 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 firm had revenue of $643.60 million during the quarter, compared to analyst estimates of $638.61 million. As a group, equities research analysts anticipate that Dropbox, Inc. will post 1.64 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.

Insiders Place Their Bets

In other news, CFO Timothy Regan sold 2,500 shares of the business’s stock in a transaction dated Friday, February 7th. The shares were sold at an average price of $32.19, for a total value of $80,475.00. Following the completion of the sale, the chief financial officer now 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Andrew Houston sold 500,323 shares of the company’s stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $29.65, for a total transaction of $14,834,576.95. Following the completion of the sale, the chief executive officer now owns 8,266,666 shares in the company, valued at approximately $245,106,646.90. This trade represents a 5.71 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 634,504 shares of company stock worth $18,935,530 in the last quarter. 28.59% of the stock is owned by corporate 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.