Rhumbline Advisers Has $19.19 Million Stock Holdings in Dropbox, Inc. (NASDAQ:DBX)

Rhumbline Advisers lessened its position in Dropbox, Inc. (NASDAQ:DBX) by 3.6% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 638,836 shares of the company’s stock after selling 23,621 shares during the quarter. Rhumbline Advisers owned approximately 0.21% of Dropbox worth $19,191,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. QRG Capital Management Inc. boosted its stake in shares of Dropbox by 10.6% during the 3rd quarter. QRG Capital Management Inc. now owns 221,716 shares of the company’s stock worth $5,638,000 after acquiring an additional 21,190 shares during the period. Aigen Investment Management LP bought a new position in shares of Dropbox during the 3rd quarter worth approximately $482,000. Retirement Systems of Alabama boosted its stake in shares of Dropbox by 15.2% during the 3rd 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 during the period. Charles Schwab Investment Management Inc. boosted its stake in shares of Dropbox by 8.9% during the 3rd 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 during the period. Finally, Robeco Institutional Asset Management B.V. boosted its stake in shares of Dropbox by 6.1% during the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 2,355,762 shares of the company’s stock worth $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.

Insider Transactions at Dropbox

In other Dropbox news, CFO Timothy Regan sold 2,500 shares of the company’s stock in a transaction dated Friday, February 7th. The stock was sold at an average price of $32.19, for a total value of $80,475.00. Following the completion of the transaction, the chief financial officer now owns 396,264 shares of the company’s stock, valued at $12,755,738.16. This represents a 0.63 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Andrew Houston sold 80,499 shares of the company’s stock in a transaction dated Tuesday, January 21st. The stock was sold at an average price of $30.97, for a total value of $2,493,054.03. Following the completion of the transaction, the chief executive officer now directly owns 8,266,666 shares of the company’s stock, valued at approximately $256,018,646.02. The trade was a 0.96 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 900,238 shares of company stock valued at $26,680,195. Corporate insiders own 28.59% of the company’s stock.

Analyst Ratings Changes

Separately, Jefferies Financial Group boosted their price target on Dropbox from $27.00 to $30.00 and gave the company a “hold” rating in a research note on Monday, January 6th.

Dropbox Stock Performance

NASDAQ:DBX opened at $31.88 on Friday. The stock has a fifty day moving average price of $31.06 and a 200-day moving average price of $27.51. The company has a market cap of $9.87 billion, a price-to-earnings ratio of 18.43, a PEG ratio of 1.77 and a beta of 0.61. Dropbox, Inc. has a fifty-two week low of $20.68 and a fifty-two week high of $33.33.

Dropbox (NASDAQ:DBX) last posted its quarterly earnings results on Thursday, February 20th. The company reported $0.51 EPS for the quarter, missing analysts’ consensus estimates of $0.62 by ($0.11). Dropbox had a negative return on equity of 135.85% and a net margin of 22.71%. Research analysts predict that Dropbox, Inc. will post 1.49 EPS for the current fiscal year.

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.