Mutual of America Capital Management LLC Sells 10,642 Shares of Dropbox, Inc. (NASDAQ:DBX)

Mutual of America Capital Management LLC trimmed its position in Dropbox, Inc. (NASDAQ:DBX) by 8.3% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 117,581 shares of the company’s stock after selling 10,642 shares during the quarter. Mutual of America Capital Management LLC’s holdings in Dropbox were worth $3,532,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Pacer Advisors Inc. increased its position in Dropbox by 4.5% in the 3rd quarter. Pacer Advisors Inc. now owns 7,788,652 shares of the company’s stock valued at $198,065,000 after buying an additional 333,245 shares in the last quarter. Jacobs Levy Equity Management Inc. increased its position in Dropbox by 6.2% in 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 buying an additional 365,893 shares in the last quarter. Geode Capital Management LLC increased its position in Dropbox by 0.6% in the 3rd quarter. Geode Capital Management LLC now owns 4,366,271 shares of the company’s stock valued at $111,368,000 after buying an additional 25,893 shares in the last quarter. Charles Schwab Investment Management Inc. increased its position in 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 buying an additional 228,685 shares in the last quarter. Finally, Retirement Systems of Alabama increased its position in 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 buying an additional 124,528 shares in the last quarter. 94.84% of the stock is owned by institutional investors.

Dropbox Stock Performance

DBX stock opened at $26.32 on Thursday. The company has a market capitalization of $7.94 billion, a P/E 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 business has a 50-day simple moving average of $30.34 and a two-hundred day simple moving average of $27.81.

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

Insider Transactions at Dropbox

In related news, CEO Andrew Houston sold 500,323 shares of the company’s stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $29.65, for a total value of $14,834,576.95. Following the transaction, the chief executive officer now owns 8,266,666 shares in the company, valued at approximately $245,106,646.90. This represents a 5.71 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Eric Cox sold 3,765 shares of the business’s stock in a transaction 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 sale, the insider now directly owns 309,550 shares in the company, valued at $8,141,165. The trade was a 1.20 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 772,003 shares of company stock worth $23,067,375 in the last 90 days. Insiders own 28.59% of the company’s stock.

Analyst Upgrades and Downgrades

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

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.