QRG Capital Management Inc. Raises Stock Position in Dropbox, Inc. (NASDAQ:DBX)

QRG Capital Management Inc. grew its holdings in shares of Dropbox, Inc. (NASDAQ:DBX) by 10.6% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 221,716 shares of the company’s stock after buying an additional 21,190 shares during the quarter. QRG Capital Management Inc. owned 0.07% of Dropbox worth $5,638,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the business. Vanguard Group Inc. increased its position in Dropbox by 0.4% during the first quarter. Vanguard Group Inc. now owns 27,379,532 shares of the company’s stock valued at $665,323,000 after acquiring an additional 105,250 shares during the last quarter. Susquehanna Fundamental Investments LLC purchased a new stake in shares of Dropbox in the first quarter worth approximately $4,900,000. Lakewood Asset Management LLC purchased a new stake in Dropbox in the second quarter worth $797,000. Janus Henderson Group PLC lifted its holdings in Dropbox by 16.4% during the 1st quarter. Janus Henderson Group PLC now owns 1,619,231 shares of the company’s stock valued at $39,340,000 after buying an additional 228,316 shares in the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. raised its stake in shares of Dropbox by 32.8% during the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 154,260 shares of the company’s stock valued at $3,749,000 after acquiring an additional 38,131 shares in the last quarter. Institutional investors own 94.84% of the company’s stock.

Insider Transactions at Dropbox

In related news, CFO Timothy Regan sold 2,500 shares of the business’s stock in a transaction on Friday, September 13th. The stock was sold at an average price of $24.35, for a total transaction of $60,875.00. Following the transaction, the chief financial officer now directly owns 485,724 shares in the company, valued at $11,827,379.40. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, CFO Timothy Regan sold 2,500 shares of the stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $24.35, for a total value of $60,875.00. Following the completion of the transaction, the chief financial officer now directly owns 485,724 shares of the company’s stock, valued at $11,827,379.40. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Andrew Houston sold 66,064 shares of the company’s stock in a transaction that occurred on Tuesday, September 24th. The shares were sold at an average price of $25.00, for a total transaction of $1,651,600.00. Following the transaction, the chief executive officer now owns 8,266,666 shares in the company, valued at $206,666,650. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 459,952 shares of company stock valued at $11,544,337. Corporate insiders own 26.40% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, UBS Group cut their price target on Dropbox from $30.00 to $28.00 and set a “buy” rating on the stock in a research note on Friday, August 9th. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Dropbox presently has a consensus rating of “Hold” and an average target price of $28.67.

Dropbox Stock Up 1.6 %

Dropbox stock opened at $26.66 on Wednesday. Dropbox, Inc. has a twelve month low of $20.68 and a twelve month high of $33.43. The business has a fifty day moving average of $25.20 and a two-hundred day moving average of $23.67. The firm has a market cap of $8.68 billion, a P/E ratio of 15.50, a P/E/G ratio of 1.62 and a beta of 0.61.

Dropbox (NASDAQ:DBX) last posted its quarterly earnings data on Thursday, August 8th. The company reported $0.60 EPS for the quarter, topping the consensus estimate of $0.52 by $0.08. The firm had revenue of $634.50 million during the quarter, compared to analyst estimates of $630.10 million. Dropbox had a net margin of 23.06% and a negative return on equity of 161.78%. Dropbox’s revenue was up 1.9% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.28 EPS. Equities analysts expect that Dropbox, Inc. will post 1.31 earnings per share for the current year.

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.