New York State Common Retirement Fund Sells 15,000 Shares of Dropbox, Inc. (NASDAQ:DBX)

New York State Common Retirement Fund decreased its position in shares of Dropbox, Inc. (NASDAQ:DBX) by 10.4% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 128,553 shares of the company’s stock after selling 15,000 shares during the quarter. New York State Common Retirement Fund’s holdings in Dropbox were worth $3,862,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of DBX. Caisse DE Depot ET Placement DU Quebec bought a new stake in shares of Dropbox in the 3rd quarter valued at $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 valued at $158,670,000 after purchasing an additional 365,893 shares in the last quarter. Pacer Advisors Inc. boosted its holdings in Dropbox by 4.5% during the 3rd quarter. Pacer Advisors Inc. now owns 7,788,652 shares of the company’s stock worth $198,065,000 after acquiring an additional 333,245 shares during the last quarter. Algert Global LLC boosted its holdings in Dropbox by 414.9% during the 3rd quarter. Algert Global LLC now owns 365,832 shares of the company’s stock worth $9,303,000 after acquiring an additional 294,780 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its holdings in 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 last quarter. Institutional investors own 94.84% of the company’s stock.

Insider Buying and Selling

In other Dropbox news, CFO Timothy Regan sold 10,000 shares of the company’s stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $29.65, for a total transaction of $296,500.00. Following the sale, the chief financial officer now directly owns 403,764 shares of the company’s stock, valued at $11,971,602.60. This represents a 2.42 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Andrew Houston sold 132,000 shares of the company’s stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $28.12, for a total transaction of $3,711,840.00. Following the sale, the chief executive officer now directly owns 8,266,666 shares in the company, valued at approximately $232,458,647.92. This trade represents a 1.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 900,238 shares of company stock valued at $26,680,195. 28.59% of the stock is owned by insiders.

Analyst Ratings Changes

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

Dropbox Stock Performance

Shares of NASDAQ:DBX opened at $25.98 on Friday. The company’s 50-day moving average is $30.69 and its 200 day moving average is $27.68. The company has a market capitalization of $8.05 billion, a P/E ratio of 18.43, a price-to-earnings-growth ratio of 1.70 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 issued 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). The company had revenue of $643.60 million during the quarter, compared to analysts’ expectations of $638.61 million. Dropbox had a negative return on equity of 132.63% and a net margin of 17.75%. As a group, research analysts predict 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.