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

QRG Capital Management Inc. increased its holdings in shares of Dropbox, Inc. (NASDAQ:DBX) by 10.6% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 221,716 shares of the company’s stock after purchasing an additional 21,190 shares during the period. QRG Capital Management Inc.’s holdings in Dropbox were worth $5,638,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Vanguard Group Inc. raised its stake in shares of Dropbox by 0.4% during the 1st quarter. Vanguard Group Inc. now owns 27,379,532 shares of the company’s stock valued at $665,323,000 after buying an additional 105,250 shares during the last quarter. Renaissance Technologies LLC grew its position in Dropbox by 5.2% during the second quarter. Renaissance Technologies LLC now owns 10,314,233 shares of the company’s stock valued at $231,761,000 after buying an additional 506,200 shares during the period. Pacer Advisors Inc. increased its holdings in Dropbox by 63.0% in the second quarter. Pacer Advisors Inc. now owns 7,455,407 shares of the company’s stock valued at $167,523,000 after buying an additional 2,881,981 shares in the last quarter. Jacobs Levy Equity Management Inc. raised its position in shares of Dropbox by 0.7% in the first quarter. Jacobs Levy Equity Management Inc. now owns 4,670,151 shares of the company’s stock worth $113,485,000 after acquiring an additional 32,600 shares during the period. Finally, LSV Asset Management boosted its stake in shares of Dropbox by 9.2% during the 2nd quarter. LSV Asset Management now owns 3,742,292 shares of the company’s stock worth $84,089,000 after acquiring an additional 314,862 shares in the last quarter. 94.84% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Dropbox news, CFO Timothy Regan sold 2,500 shares of the stock in a transaction dated Tuesday, October 29th. The shares were sold at an average price of $25.71, for a total value of $64,275.00. Following the completion of the sale, the chief financial officer now owns 464,247 shares in the company, valued at approximately $11,935,790.37. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Dropbox news, CFO Timothy Regan sold 2,500 shares of the company’s stock in a transaction on Tuesday, October 29th. The stock was sold at an average price of $25.71, for a total value of $64,275.00. Following the completion of the sale, the chief financial officer now directly owns 464,247 shares in the company, valued at $11,935,790.37. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Andrew Houston sold 66,064 shares of the firm’s stock in a transaction on Tuesday, September 24th. The stock was sold at an average price of $25.00, for a total value of $1,651,600.00. Following the completion of the sale, the chief executive officer now directly owns 8,266,666 shares of the company’s stock, valued at $206,666,650. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 459,952 shares of company stock worth $11,544,337. 26.40% of the stock is owned by insiders.

Dropbox Price Performance

NASDAQ DBX opened at $26.66 on Wednesday. The stock’s 50 day simple moving average is $25.20 and its 200-day simple moving average is $23.67. The company has a market cap of $8.68 billion, a PE ratio of 15.50, a price-to-earnings-growth ratio of 1.62 and a beta of 0.61. Dropbox, Inc. has a 1-year low of $20.68 and a 1-year high of $33.43.

Dropbox (NASDAQ:DBX) last announced its quarterly earnings data on Thursday, August 8th. The company reported $0.60 earnings per share for the quarter, beating analysts’ consensus estimates of $0.52 by $0.08. Dropbox had a negative return on equity of 161.78% and a net margin of 23.06%. The company had revenue of $634.50 million for the quarter, compared to analyst estimates of $630.10 million. During the same quarter last year, the firm posted $0.28 EPS. The firm’s revenue for the quarter was up 1.9% on a year-over-year basis. On average, equities research analysts anticipate that Dropbox, Inc. will post 1.31 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Separately, UBS Group cut their price target on Dropbox from $30.00 to $28.00 and set a “buy” rating for the company in a research note on Friday, August 9th. Two analysts have rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the company. According to MarketBeat, Dropbox has an average rating of “Hold” and an average price target of $28.67.

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.