Distillate Capital Partners LLC Has $15.24 Million Stake in Dropbox, Inc. (NASDAQ:DBX)

Distillate Capital Partners LLC reduced its stake in shares of Dropbox, Inc. (NASDAQ:DBX) by 22.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 507,452 shares of the company’s stock after selling 144,563 shares during the quarter. Distillate Capital Partners LLC owned 0.16% of Dropbox worth $15,244,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Sterling Capital Management LLC increased its holdings in Dropbox by 40.2% during the 4th quarter. Sterling Capital Management LLC now owns 11,112 shares of the company’s stock valued at $334,000 after purchasing an additional 3,187 shares in the last quarter. Paralel Advisors LLC grew its holdings in shares of Dropbox by 10.0% during the fourth quarter. Paralel Advisors LLC now owns 103,320 shares of the company’s stock worth $3,104,000 after purchasing an additional 9,384 shares during the last quarter. Treasurer of the State of North Carolina increased its stake in shares of Dropbox by 0.8% in the fourth quarter. Treasurer of the State of North Carolina now owns 172,783 shares of the company’s stock valued at $5,190,000 after buying an additional 1,405 shares in the last quarter. LSV Asset Management raised its position in shares of Dropbox by 24.0% during the fourth quarter. LSV Asset Management now owns 6,446,121 shares of the company’s stock worth $193,641,000 after acquiring an additional 1,245,563 shares during the last quarter. Finally, Bessemer Group Inc. lifted its stake in shares of Dropbox by 0.3% during the fourth quarter. Bessemer Group Inc. now owns 126,321 shares of the company’s stock valued at $3,794,000 after acquiring an additional 333 shares during the period. 94.84% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

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

Dropbox Price Performance

Shares of DBX stock opened at $27.08 on Friday. The stock has a market cap of $8.17 billion, a PE ratio of 19.21, a price-to-earnings-growth ratio of 1.70 and a beta of 0.75. The stock has a 50-day moving average of $27.80 and a 200-day moving average of $28.21. Dropbox, Inc. has a one year low of $20.68 and a one year high of $33.33.

Dropbox (NASDAQ:DBX) last issued its earnings results on Thursday, February 20th. The company reported $0.51 EPS for the quarter, missing the consensus estimate of $0.62 by ($0.11). The firm had revenue of $643.60 million during the quarter, compared to the consensus estimate of $638.61 million. Dropbox had a net margin of 17.75% and a negative return on equity of 132.63%. As a group, research analysts anticipate that Dropbox, Inc. will post 1.64 earnings per share for the current year.

Insider Buying and Selling

In related news, CFO Timothy Regan sold 2,500 shares of the stock in a transaction that occurred on Wednesday, January 15th. The stock was sold at an average price of $30.37, for a total transaction of $75,925.00. Following the completion of the sale, the chief financial officer now directly owns 401,264 shares of the company’s stock, valued at approximately $12,186,387.68. This represents a 0.62 % 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, insider Eric Cox sold 3,765 shares of Dropbox stock in a transaction that occurred on Thursday, February 27th. The shares were sold at an average price of $26.30, for a total transaction of $99,019.50. Following the completion of the transaction, the insider now directly owns 309,550 shares in the company, valued at approximately $8,141,165. The trade was a 1.20 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 94,264 shares of company stock valued at $2,895,324. 28.59% of the stock is owned by company insiders.

Dropbox Company 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.