Teacher Retirement System of Texas Has $7.32 Million Stock Position in Dropbox, Inc. (NASDAQ:DBX)

Teacher Retirement System of Texas grew its position in Dropbox, Inc. (NASDAQ:DBX) by 70.7% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 243,626 shares of the company’s stock after buying an additional 100,886 shares during the period. Teacher Retirement System of Texas’ holdings in Dropbox were worth $7,319,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in DBX. EverSource Wealth Advisors LLC boosted its position in shares of Dropbox by 96.1% in the 4th quarter. EverSource Wealth Advisors LLC now owns 865 shares of the company’s stock worth $26,000 after purchasing an additional 424 shares during the last quarter. Avion Wealth boosted its position in shares of Dropbox by 4,472.7% in the 4th quarter. Avion Wealth now owns 1,006 shares of the company’s stock worth $30,000 after purchasing an additional 984 shares during the last quarter. SBI Securities Co. Ltd. bought a new position in shares of Dropbox in the 4th quarter worth $40,000. Allworth Financial LP boosted its position in shares of Dropbox by 33.5% in the 4th quarter. Allworth Financial LP now owns 1,456 shares of the company’s stock worth $45,000 after purchasing an additional 365 shares during the last quarter. Finally, V Square Quantitative Management LLC boosted its position in shares of Dropbox by 39.0% in the 4th quarter. V Square Quantitative Management LLC now owns 1,717 shares of the company’s stock worth $52,000 after purchasing an additional 482 shares during the last quarter. 94.84% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

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

Insiders Place Their Bets

In other news, CEO Andrew Houston sold 29,917 shares of the business’s stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $30.07, for a total value of $899,604.19. Following the sale, the chief executive officer now directly owns 8,266,666 shares in the company, valued at $248,578,646.62. The trade was a 0.36 % decrease in their ownership of the stock. The sale 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 business’s stock in a transaction dated Friday, February 7th. The shares were sold at an average price of $32.19, for a total value of $80,475.00. Following the completion of the sale, the chief financial officer now owns 396,264 shares in the company, valued at approximately $12,755,738.16. This trade represents a 0.63 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 634,504 shares of company stock worth $18,935,530. Corporate insiders own 28.59% of the company’s stock.

Dropbox Trading Up 0.5 %

DBX stock opened at $26.50 on Friday. The business’s 50-day moving average price is $29.36 and its two-hundred day moving average price is $27.94. The firm has a market cap of $8.00 billion, a PE ratio of 18.79, a P/E/G ratio of 1.70 and a beta of 0.77. Dropbox, Inc. has a 1-year low of $20.68 and a 1-year high of $33.33.

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

About Dropbox

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.