937,011 Dropbox, Inc. $DBX Shares Sold by Robeco Institutional Asset Management B.V.

Robeco Institutional Asset Management B.V. lessened its stake in Dropbox, Inc. (NASDAQ:DBX) by 29.8% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,207,116 shares of the company’s stock after selling 937,011 shares during the period. Robeco Institutional Asset Management B.V. owned 0.98% of Dropbox worth $74,711,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in DBX. IFP Advisors Inc boosted its position in Dropbox by 68.5% in the 3rd quarter. IFP Advisors Inc now owns 18,502 shares of the company’s stock valued at $626,000 after buying an additional 7,521 shares during the period. Founders Grove Wealth Partners LLC bought a new position in Dropbox in the 3rd quarter worth about $252,000. Sanders Morris Harris LLC bought a new position in Dropbox in the 3rd quarter worth about $439,000. NorthCrest Asset Manangement LLC bought a new position in Dropbox in the 3rd quarter worth about $268,000. Finally, GAMMA Investing LLC grew its stake in Dropbox by 5.2% in the 3rd quarter. GAMMA Investing LLC now owns 10,054 shares of the company’s stock worth $340,000 after acquiring an additional 500 shares in the last quarter. Institutional investors own 94.84% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on DBX shares. Wall Street Zen lowered shares of Dropbox from a “buy” rating to a “hold” rating in a research report on Saturday, August 8th. William Blair upgraded Dropbox from an “underperform” rating to a “market perform” rating in a report on Friday, August 7th. Weiss Ratings upgraded Dropbox from a “hold (c)” rating to a “hold (c+)” rating in a report on Thursday, August 13th. Citigroup cut Dropbox from a “neutral” rating to a “sell” rating and dropped their price objective for the stock from $33.00 to $29.00 in a research note on Thursday, September 24th. Finally, Zacks Research upgraded Dropbox from a “strong sell” rating to a “hold” rating in a report on Tuesday, October 6th. One investment analyst has rated the stock with a Buy rating, four have issued a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Reduce” and an average target price of $29.75.

Insider Buying and Selling at Dropbox

In other news, CEO Ashraf Alkarmi sold 28,800 shares of the firm’s stock in a transaction dated Friday, September 11th. The shares were sold at an average price of $35.54, for a total value of $1,023,552.00. Following the sale, the chief executive officer directly owned 1,004,081 shares in the company, valued at approximately $35,685,038.74. This trade represents a 2.79% decrease in their position. The transaction was disclosed in a 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. Also, insider William Yoon sold 12,382 shares of the firm’s stock in a transaction dated Friday, September 4th. The shares were sold at an average price of $34.78, for a total transaction of $430,645.96. Following the completion of the sale, the insider owned 366,693 shares in the company, valued at $12,753,582.54. This represents a 3.27% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders sold 951,100 shares of company stock valued at $32,927,493. 35.48% of the stock is currently owned by corporate insiders.

Dropbox Price Performance

Shares of NASDAQ DBX opened at $37.48 on Friday. Dropbox, Inc. has a 1-year low of $21.69 and a 1-year high of $38.17. The business has a fifty day moving average price of $34.90 and a 200 day moving average price of $30.24. The stock has a market capitalization of $8.46 billion, a P/E ratio of 20.82, a price-to-earnings-growth ratio of 5.39 and a beta of 0.63.

Dropbox (NASDAQ:DBX) last posted its earnings results on Thursday, August 6th. The company reported $0.75 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.74 by $0.01. The company had revenue of $631.50 million for the quarter, compared to analyst estimates of $626.69 million. Dropbox had a negative return on equity of 24.26% and a net margin of 17.49%. The firm’s quarterly revenue was up .9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.71 earnings per share. As a group, equities research analysts anticipate that Dropbox, Inc. will post 1.94 earnings per share for the current fiscal year.

Dropbox Company Profile

Dropbox, Inc (NASDAQ: DBX) is a software company that provides cloud-based tools for storing, organizing, sharing and collaborating on files. Its platform enables individuals, businesses and teams to access documents, photos and other content across connected devices, synchronize files and manage shared workflows.

The company’s offerings include Dropbox for cloud storage and file collaboration, Dropbox Paper for shared documents and project work, Dropbox Sign for electronic signatures, and DocSend for securely sharing and tracking business documents.