Dropbox, Inc. $DBX Shares Sold by Geode Capital Management LLC

Geode Capital Management LLC reduced its holdings in Dropbox, Inc. (NASDAQ:DBX) by 2.0% in the 4th quarter, HoldingsChannel.com reports. The firm owned 4,046,562 shares of the company’s stock after selling 81,452 shares during the quarter. Geode Capital Management LLC’s holdings in Dropbox were worth $114,835,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the business. LSV Asset Management increased its stake in Dropbox by 1.1% in the fourth quarter. LSV Asset Management now owns 11,735,641 shares of the company’s stock valued at $326,251,000 after purchasing an additional 121,999 shares during the last quarter. Arrowstreet Capital Limited Partnership increased its stake in Dropbox by 2.2% in the third quarter. Arrowstreet Capital Limited Partnership now owns 6,806,508 shares of the company’s stock valued at $205,625,000 after purchasing an additional 144,347 shares during the last quarter. Jacobs Levy Equity Management Inc. increased its stake in Dropbox by 1.4% in the third quarter. Jacobs Levy Equity Management Inc. now owns 5,095,485 shares of the company’s stock valued at $153,935,000 after purchasing an additional 70,867 shares during the last quarter. Robeco Institutional Asset Management B.V. increased its stake in Dropbox by 22.5% in the fourth quarter. Robeco Institutional Asset Management B.V. now owns 2,518,534 shares of the company’s stock valued at $70,015,000 after purchasing an additional 463,258 shares during the last quarter. Finally, Northern Trust Corp increased its stake in Dropbox by 29.1% in the third quarter. Northern Trust Corp now owns 2,488,077 shares of the company’s stock valued at $75,165,000 after purchasing an additional 560,694 shares during the last quarter. 94.84% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other Dropbox news, insider William T. Yoon sold 7,230 shares of the business’s stock in a transaction dated Monday, May 18th. The stock was sold at an average price of $27.57, for a total transaction of $199,331.10. Following the completion of the sale, the insider owned 366,963 shares of the company’s stock, valued at approximately $10,117,169.91. The trade was a 1.93% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CTO Ali Dasdan sold 5,666 shares of the business’s stock in a transaction dated Monday, May 18th. The shares were sold at an average price of $27.56, for a total value of $156,154.96. Following the sale, the chief technology officer directly owned 514,611 shares of the company’s stock, valued at approximately $14,182,679.16. This trade represents a 1.09% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold 239,883 shares of company stock valued at $6,006,972 in the last 90 days. 35.48% of the stock is owned by corporate insiders.

Dropbox Trading Up 1.2%

DBX stock opened at $27.52 on Friday. The stock has a 50-day moving average price of $25.11 and a two-hundred day moving average price of $26.19. Dropbox, Inc. has a 12-month low of $21.69 and a 12-month high of $32.40. The company has a market cap of $6.42 billion, a PE ratio of 15.04, a price-to-earnings-growth ratio of 2.98 and a beta of 0.67.

Dropbox (NASDAQ:DBX) last posted its quarterly earnings results on Thursday, May 7th. The company reported $0.76 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.71 by $0.05. Dropbox had a negative return on equity of 30.01% and a net margin of 18.71%.The firm had revenue of $629.50 million during the quarter, compared to the consensus estimate of $620.56 million. During the same quarter in the previous year, the business earned $0.70 earnings per share. The firm’s quarterly revenue was up .8% compared to the same quarter last year. Equities analysts forecast that Dropbox, Inc. will post 2.09 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms recently commented on DBX. Royal Bank Of Canada reiterated an “outperform” rating on shares of Dropbox in a research note on Monday. Wall Street Zen upgraded Dropbox from a “hold” rating to a “buy” rating in a research note on Saturday, May 16th. JPMorgan Chase & Co. dropped their target price on Dropbox from $29.00 to $25.00 and set a “neutral” rating for the company in a research note on Friday, February 20th. William Blair reiterated an “underperform” rating on shares of Dropbox in a research note on Monday, March 23rd. Finally, Citigroup upped their target price on Dropbox from $27.00 to $28.00 and gave the company a “neutral” rating in a research note on Monday, May 11th. One investment analyst has rated the stock with a Buy rating, three have issued a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Reduce” and a consensus target price of $27.00.

Dropbox Profile

Dropbox, Inc (NASDAQ: DBX) is a leading provider of cloud-based file storage, collaboration, and productivity tools. Founded in 2007 and headquartered in San Francisco, California, the company offers a suite of services designed to help individuals and organizations securely store, share, and manage digital content. Dropbox has grown from a simple file-syncing application into an integrated collaboration platform used by millions of customers around the globe.

At its core, Dropbox provides cloud storage plans tailored for consumers and businesses.