Dropbox, Inc. (NASDAQ:DBX) Holdings Decreased by Pzena Investment Management LLC

Pzena Investment Management LLC decreased its position in Dropbox, Inc. (NASDAQ:DBX) by 30.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 9,718 shares of the company’s stock after selling 4,235 shares during the quarter. Pzena Investment Management LLC’s holdings in Dropbox were worth $292,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in DBX. Pacer Advisors Inc. grew its position in Dropbox by 4.5% during the 3rd quarter. Pacer Advisors Inc. now owns 7,788,652 shares of the company’s stock worth $198,065,000 after purchasing an additional 333,245 shares in the last quarter. Jacobs Levy Equity Management Inc. boosted its position in shares of Dropbox by 6.2% in the third quarter. Jacobs Levy Equity Management Inc. now owns 6,239,493 shares of the company’s stock worth $158,670,000 after buying an additional 365,893 shares during the period. Geode Capital Management LLC grew its holdings in shares of Dropbox by 0.6% during the third 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. raised its position in Dropbox by 4.2% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,914,005 shares of the company’s stock valued at $87,537,000 after buying an additional 117,767 shares during the period. Finally, Retirement Systems of Alabama lifted its stake in Dropbox by 15.2% in the 3rd quarter. Retirement Systems of Alabama now owns 944,033 shares of the company’s stock worth $24,007,000 after acquiring an additional 124,528 shares in the last quarter. 94.84% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other news, CEO Andrew Houston sold 500,323 shares of the firm’s stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $29.65, for a total transaction of $14,834,576.95. Following the completion of the sale, the chief executive officer now owns 8,266,666 shares in the company, valued at approximately $245,106,646.90. This trade represents a 5.71 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Timothy Regan sold 2,500 shares of the stock in a transaction on Monday, December 30th. The stock was sold at an average price of $30.38, for a total value of $75,950.00. Following the transaction, the chief financial officer now owns 413,764 shares in the company, valued at $12,570,150.32. The trade was a 0.60 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 634,504 shares of company stock valued at $18,935,530 over the last ninety days. Insiders own 28.59% of the company’s stock.

Dropbox Price Performance

Dropbox stock opened at $25.28 on Wednesday. Dropbox, Inc. has a fifty-two week low of $20.68 and a fifty-two week high of $33.33. The firm has a market cap of $7.63 billion, a price-to-earnings ratio of 17.93, a P/E/G ratio of 1.70 and a beta of 0.77. The firm has a fifty day moving average price of $29.97 and a two-hundred day moving average price of $27.89.

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

Analysts Set New Price Targets

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