Illinois Municipal Retirement Fund Increases Stock Position in Dropbox, Inc. (NASDAQ:DBX)

Illinois Municipal Retirement Fund lifted its position in shares of Dropbox, Inc. (NASDAQ:DBX) by 19.1% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 180,723 shares of the company’s stock after purchasing an additional 28,923 shares during the period. Illinois Municipal Retirement Fund’s holdings in Dropbox were worth $5,429,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Avion Wealth lifted its position in shares of Dropbox by 4,472.7% during the 4th quarter. Avion Wealth now owns 1,006 shares of the company’s stock worth $30,000 after buying an additional 984 shares in the last quarter. Capital Performance Advisors LLP bought a new position in shares of Dropbox in the third quarter valued at approximately $28,000. Allworth Financial LP increased its position in shares of Dropbox by 33.5% during the fourth quarter. Allworth Financial LP now owns 1,456 shares of the company’s stock valued at $45,000 after acquiring an additional 365 shares during the last quarter. V Square Quantitative Management LLC lifted its holdings in Dropbox by 39.0% during the fourth quarter. V Square Quantitative Management LLC now owns 1,717 shares of the company’s stock worth $52,000 after acquiring an additional 482 shares during the period. Finally, Fifth Third Bancorp boosted its position in Dropbox by 35.6% in the fourth quarter. Fifth Third Bancorp now owns 1,798 shares of the company’s stock worth $54,000 after purchasing an additional 472 shares during the last quarter. 94.84% of the stock is currently owned by hedge funds and other institutional investors.

Dropbox Stock Up 0.7 %

DBX opened at $26.60 on Thursday. The company’s 50-day moving average price is $30.82 and its two-hundred day moving average price is $27.70. Dropbox, Inc. has a twelve month low of $20.68 and a twelve month high of $33.33. The stock has a market cap of $8.24 billion, a price-to-earnings ratio of 18.86, a PEG ratio of 1.70 and a beta of 0.61.

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

Insider Transactions at Dropbox

In other news, CEO Andrew Houston sold 29,917 shares of the business’s stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $30.07, for a total value of $899,604.19. Following the sale, the chief executive officer now owns 8,266,666 shares of the company’s stock, valued at $248,578,646.62. The trade was a 0.36 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Timothy Regan sold 2,500 shares of the company’s stock in a transaction that occurred on Friday, February 7th. The shares were sold at an average price of $32.19, for a total transaction of $80,475.00. Following the sale, the chief financial officer now owns 396,264 shares in the company, valued at $12,755,738.16. The trade was a 0.63 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 900,238 shares of company stock worth $26,680,195. 28.59% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

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

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.