State of New Jersey Common Pension Fund D Has $2.36 Million Holdings in Dropbox, Inc. (NASDAQ:DBX)

State of New Jersey Common Pension Fund D cut its holdings in shares of Dropbox, Inc. (NASDAQ:DBX) by 5.4% during the fourth quarter, HoldingsChannel.com reports. The firm owned 78,709 shares of the company’s stock after selling 4,529 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in Dropbox were worth $2,364,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in the business. Allworth Financial LP lifted its position in Dropbox by 33.5% during the 4th quarter. Allworth Financial LP now owns 1,456 shares of the company’s stock valued at $45,000 after purchasing an additional 365 shares during the period. V Square Quantitative Management LLC lifted its position in Dropbox by 39.0% during the 4th quarter. V Square Quantitative Management LLC now owns 1,717 shares of the company’s stock valued at $52,000 after purchasing an additional 482 shares during the period. Avion Wealth lifted its position in Dropbox by 4,472.7% during the 4th quarter. Avion Wealth now owns 1,006 shares of the company’s stock valued at $30,000 after purchasing an additional 984 shares during the period. Summit Trail Advisors LLC acquired a new position in Dropbox during the 4th quarter valued at about $244,000. Finally, Empowered Funds LLC lifted its position in Dropbox by 68.0% during the 4th quarter. Empowered Funds LLC now owns 36,140 shares of the company’s stock valued at $1,086,000 after purchasing an additional 14,629 shares during the period. 94.84% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

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

Insider Buying and Selling

In related news, CFO Timothy Regan sold 2,500 shares of the stock in a transaction that occurred on Friday, February 7th. The stock was sold at an average price of $32.19, for a total transaction of $80,475.00. Following the completion of the sale, the chief financial officer now directly owns 396,264 shares of the company’s stock, valued at approximately $12,755,738.16. This represents a 0.63 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Andrew Houston sold 80,499 shares of the stock in a transaction that occurred on 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 sale, 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 ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 900,238 shares of company stock valued at $26,680,195. 28.59% of the stock is owned by corporate insiders.

Dropbox Price Performance

Shares of NASDAQ:DBX opened at $31.88 on Friday. The company has a market capitalization of $9.87 billion, a price-to-earnings ratio of 18.43, a P/E/G ratio of 1.77 and a beta of 0.61. The firm’s 50 day simple moving average is $31.06 and its 200 day simple moving average is $27.51. Dropbox, Inc. has a fifty-two week low of $20.68 and a fifty-two week high of $33.33.

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