Versor Investments LP Cuts Stake in Dropbox, Inc. (NASDAQ:DBX)

Versor Investments LP cut its holdings in shares of Dropbox, Inc. (NASDAQ:DBX) by 52.4% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 6,800 shares of the company’s stock after selling 7,489 shares during the quarter. Versor Investments LP’s holdings in Dropbox were worth $204,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. QRG Capital Management Inc. increased its stake in shares of Dropbox by 10.6% during the third quarter. QRG Capital Management Inc. now owns 221,716 shares of the company’s stock worth $5,638,000 after buying an additional 21,190 shares during the period. Aigen Investment Management LP acquired a new position in Dropbox during the 3rd quarter worth approximately $482,000. Retirement Systems of Alabama increased its position in shares of Dropbox by 15.2% in the 3rd quarter. Retirement Systems of Alabama now owns 944,033 shares of the company’s stock valued at $24,007,000 after purchasing an additional 124,528 shares during the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of Dropbox by 8.9% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,796,238 shares of the company’s stock valued at $71,108,000 after purchasing an additional 228,685 shares in the last quarter. Finally, IVY Lane Capital Management LLC purchased a new stake in shares of Dropbox during the 3rd quarter worth $3,179,000. Hedge funds and other institutional investors own 94.84% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Insider Buying and Selling at Dropbox

In other news, insider Eric Cox sold 3,765 shares of the stock in a transaction that occurred on Thursday, February 27th. The stock was sold at an average price of $26.30, for a total value of $99,019.50. Following the completion of the sale, the insider now directly owns 309,550 shares of the company’s stock, valued at approximately $8,141,165. This represents a 1.20 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Andrew Houston sold 137,499 shares of the firm’s stock in a transaction that occurred on Wednesday, December 11th. The stock was sold at an average price of $30.05, for a total transaction of $4,131,844.95. Following the transaction, the chief executive officer now owns 8,266,666 shares in the company, valued at approximately $248,413,313.30. This trade represents a 1.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 772,003 shares of company stock worth $23,067,375 over the last 90 days. Corporate insiders own 28.59% of the company’s stock.

Dropbox Stock Up 1.6 %

Shares of DBX opened at $26.32 on Wednesday. The company has a market capitalization of $7.94 billion, a price-to-earnings ratio of 18.67, a price-to-earnings-growth ratio of 1.70 and a beta of 0.77. Dropbox, Inc. has a 52-week low of $20.68 and a 52-week high of $33.33. The stock has a 50 day moving average price of $30.43 and a 200 day moving average price of $27.82.

Dropbox (NASDAQ:DBX) last issued its quarterly earnings data on Thursday, February 20th. The company reported $0.51 earnings per share for the quarter, missing the consensus estimate of $0.62 by ($0.11). The company had revenue of $643.60 million for 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%. On average, equities analysts anticipate that Dropbox, Inc. will post 1.64 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.