Retirement Systems of Alabama Grows Position in Dropbox, Inc. (NASDAQ:DBX)

Retirement Systems of Alabama grew its position in Dropbox, Inc. (NASDAQ:DBX) by 15.2% during the third quarter, HoldingsChannel.com reports. The fund owned 944,033 shares of the company’s stock after acquiring an additional 124,528 shares during the quarter. Retirement Systems of Alabama’s holdings in Dropbox were worth $24,007,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of DBX. QRG Capital Management Inc. increased its position in Dropbox by 10.6% in the third quarter. QRG Capital Management Inc. now owns 221,716 shares of the company’s stock worth $5,638,000 after purchasing an additional 21,190 shares during the last quarter. Aigen Investment Management LP purchased a new position in shares of Dropbox in the 3rd quarter worth $482,000. Charles Schwab Investment Management Inc. increased 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 worth $71,108,000 after buying an additional 228,685 shares during the last quarter. Robeco Institutional Asset Management B.V. raised its position in shares of Dropbox by 6.1% during the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 2,355,762 shares of the company’s stock valued at $59,907,000 after buying an additional 134,503 shares in the last quarter. Finally, IVY Lane Capital Management LLC bought a new position in shares of Dropbox in the 3rd quarter valued at about $3,179,000. 94.84% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Dropbox

In other Dropbox news, insider Eric Cox sold 2,330 shares of the firm’s stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $26.41, for a total value of $61,535.30. Following the completion of the sale, the insider now owns 321,871 shares of the company’s stock, valued at $8,500,613.11. This trade represents a 0.72 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Andrew Houston sold 3,493 shares of the company’s stock in a transaction that occurred on Thursday, September 19th. The shares were sold at an average price of $25.00, for a total value of $87,325.00. Following the transaction, the chief executive officer now directly owns 8,266,666 shares in the company, valued at approximately $206,666,650. This represents a 0.04 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 731,781 shares of company stock worth $19,456,607. 26.40% of the stock is currently owned by company insiders.

Dropbox Price Performance

Shares of NASDAQ DBX opened at $29.77 on Friday. Dropbox, Inc. has a 1-year low of $20.68 and a 1-year high of $33.43. The business’s 50 day moving average is $27.22 and its two-hundred day moving average is $24.58. The stock has a market capitalization of $9.22 billion, a P/E ratio of 17.21, a PEG ratio of 1.68 and a beta of 0.63.

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.