California State Teachers Retirement System Has $6.68 Million Position in Dropbox, Inc. (NASDAQ:DBX)

California State Teachers Retirement System lowered its holdings in shares of Dropbox, Inc. (NASDAQ:DBX) by 3.5% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 222,337 shares of the company’s stock after selling 8,018 shares during the period. California State Teachers Retirement System owned about 0.07% of Dropbox worth $6,679,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. EverSource Wealth Advisors LLC boosted its stake in Dropbox by 96.1% in the 4th quarter. EverSource Wealth Advisors LLC now owns 865 shares of the company’s stock valued at $26,000 after buying an additional 424 shares in the last quarter. Avion Wealth boosted its stake in Dropbox by 4,472.7% in the 4th quarter. Avion Wealth now owns 1,006 shares of the company’s stock valued at $30,000 after buying an additional 984 shares in the last quarter. True Wealth Design LLC boosted its stake in Dropbox by 191.0% in the 4th quarter. True Wealth Design LLC now owns 1,036 shares of the company’s stock valued at $31,000 after buying an additional 680 shares in the last quarter. SBI Securities Co. Ltd. acquired a new stake in Dropbox in the 4th quarter valued at $40,000. Finally, Allworth Financial LP boosted its stake in Dropbox by 33.5% in the 4th quarter. Allworth Financial LP now owns 1,456 shares of the company’s stock valued at $45,000 after buying an additional 365 shares in the last quarter. Institutional investors and hedge funds own 94.84% of the company’s stock.

Dropbox Stock Performance

Dropbox stock opened at $28.74 on Monday. The firm has a market cap of $8.09 billion, a P/E ratio of 20.38, a P/E/G ratio of 1.70 and a beta of 0.68. The business’s fifty day moving average is $27.92 and its two-hundred day moving average is $28.78. Dropbox, Inc. has a 52 week low of $20.68 and a 52 week high of $33.33.

Dropbox (NASDAQ:DBX) last posted its quarterly earnings data on Thursday, May 8th. The company reported $0.70 EPS for the quarter, topping analysts’ consensus estimates of $0.62 by $0.08. The company had revenue of $624.70 million for the quarter, compared to analyst estimates of $619.56 million. Dropbox had a negative return on equity of 132.63% and a net margin of 17.75%. The business’s revenue was down 1.0% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.58 earnings per share. On average, equities research analysts predict that Dropbox, Inc. will post 1.64 earnings per share for the current year.

Insiders Place Their Bets

In other news, CFO Timothy Regan sold 2,500 shares of the company’s stock in a transaction on Thursday, May 15th. The stock was sold at an average price of $29.53, for a total transaction of $73,825.00. Following the transaction, the chief financial officer now owns 533,594 shares of the company’s stock, valued at $15,757,030.82. This represents a 0.47% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider William T. Yoon sold 5,449 shares of the company’s stock in a transaction on Friday, May 16th. The shares were sold at an average price of $28.94, for a total value of $157,694.06. Following the transaction, the insider now directly owns 245,837 shares in the company, valued at $7,114,522.78. This trade represents a 2.17% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 30,027 shares of company stock valued at $855,036. 28.59% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several brokerages recently commented on DBX. Citigroup boosted their price target on Dropbox from $30.00 to $32.00 and gave the company a “neutral” rating in a research note on Friday, May 9th. UBS Group boosted their price objective on Dropbox from $30.00 to $31.00 and gave the stock a “buy” rating in a research note on Friday, May 9th.

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.