Victory Capital Management Inc. Sells 13,373 Shares of Dropbox, Inc. (NASDAQ:DBX)

Victory Capital Management Inc. decreased its holdings in Dropbox, Inc. (NASDAQ:DBX) by 1.8% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 721,680 shares of the company’s stock after selling 13,373 shares during the quarter. Victory Capital Management Inc. owned 0.23% of Dropbox worth $21,679,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of DBX. Caisse DE Depot ET Placement DU Quebec acquired a new stake in shares of Dropbox in the third quarter valued at approximately $11,687,000. Jacobs Levy Equity Management Inc. increased its stake in Dropbox by 6.2% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 6,239,493 shares of the company’s stock worth $158,670,000 after acquiring an additional 365,893 shares during the period. Pacer Advisors Inc. raised its holdings in Dropbox by 4.5% in the 3rd quarter. Pacer Advisors Inc. now owns 7,788,652 shares of the company’s stock valued at $198,065,000 after acquiring an additional 333,245 shares in the last quarter. Algert Global LLC lifted its position in shares of Dropbox by 414.9% during the 3rd quarter. Algert Global LLC now owns 365,832 shares of the company’s stock valued at $9,303,000 after acquiring an additional 294,780 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its holdings 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 purchasing an additional 228,685 shares in the last quarter. Institutional investors own 94.84% of the company’s stock.

Wall Street Analyst Weigh In

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.

Insider Activity

In other news, CFO Timothy Regan sold 2,500 shares of the stock in a transaction on Monday, December 30th. The stock was sold at an average price of $30.38, for a total value of $75,950.00. Following the completion of the transaction, the chief financial officer now directly owns 413,764 shares in the company, valued at approximately $12,570,150.32. This represents a 0.60 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Andrew Houston sold 500,323 shares of the business’s stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $29.65, for a total value of $14,834,576.95. Following the sale, the chief executive officer now owns 8,266,666 shares in the company, valued at $245,106,646.90. This represents a 5.71 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 634,504 shares of company stock worth $18,935,530. Corporate insiders own 28.59% of the company’s stock.

Dropbox Price Performance

NASDAQ DBX opened at $25.28 on Wednesday. The business has a fifty day moving average price of $29.97 and a two-hundred day moving average price of $27.89. The stock has a market capitalization of $7.63 billion, a PE ratio of 17.93, a PEG ratio of 1.70 and a beta of 0.77. 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). The business had revenue of $643.60 million for the quarter, compared to analyst estimates of $638.61 million. Dropbox had a negative return on equity of 132.63% and a net margin of 17.75%. As a group, sell-side analysts expect that Dropbox, Inc. will post 1.64 earnings per share for the current year.

About Dropbox

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.