Fjarde AP Fonden Fourth Swedish National Pension Fund Sells 3,400 Shares of Dropbox Inc (NASDAQ:DBX)

Fjarde AP Fonden Fourth Swedish National Pension Fund lowered its position in Dropbox Inc (NASDAQ:DBX) by 4.3% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 75,800 shares of the company’s stock after selling 3,400 shares during the quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund’s holdings in Dropbox were worth $1,529,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in DBX. BlackRock Inc. boosted its position in Dropbox by 35.8% during the 2nd quarter. BlackRock Inc. now owns 18,369,211 shares of the company’s stock valued at $460,147,000 after acquiring an additional 4,847,447 shares in the last quarter. Vanguard Group Inc. boosted its position in Dropbox by 48.5% during the 2nd quarter. Vanguard Group Inc. now owns 16,362,654 shares of the company’s stock valued at $409,885,000 after acquiring an additional 5,341,378 shares in the last quarter. First Trust Advisors LP boosted its position in Dropbox by 63.1% during the 2nd quarter. First Trust Advisors LP now owns 6,551,431 shares of the company’s stock valued at $164,113,000 after acquiring an additional 2,535,197 shares in the last quarter. Renaissance Technologies LLC boosted its position in Dropbox by 836.0% during the 2nd quarter. Renaissance Technologies LLC now owns 6,537,007 shares of the company’s stock valued at $163,752,000 after acquiring an additional 5,838,601 shares in the last quarter. Finally, Wells Fargo & Company MN boosted its position in Dropbox by 36.1% during the 2nd quarter. Wells Fargo & Company MN now owns 4,973,152 shares of the company’s stock valued at $124,577,000 after acquiring an additional 1,319,835 shares in the last quarter. 39.78% of the stock is currently owned by institutional investors.

Several analysts have issued reports on the company. Nomura increased their target price on Dropbox from $25.00 to $27.00 and gave the company a “buy” rating in a research report on Friday. William Blair dropped coverage on Dropbox in a research report on Friday, August 9th. Jefferies Financial Group reissued a “buy” rating and issued a $28.00 price objective (down previously from $32.00) on shares of Dropbox in a research report on Friday. Royal Bank of Canada dropped coverage on Dropbox in a research report on Thursday, September 26th. Finally, Instinet raised Dropbox from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $18.92 to $25.00 in a research report on Tuesday, October 22nd. One investment analyst has rated the stock with a sell rating and eleven have given a buy rating to the stock. The company presently has an average rating of “Buy” and an average price target of $28.10.

Dropbox stock opened at $19.80 on Friday. The company has a debt-to-equity ratio of 0.99, a current ratio of 1.18 and a quick ratio of 1.18. The stock has a market capitalization of $8.63 billion, a price-to-earnings ratio of -15.11 and a beta of 1.56. Dropbox Inc has a 1-year low of $17.20 and a 1-year high of $27.15. The business has a fifty day moving average price of $19.73 and a 200-day moving average price of $21.72.

Dropbox (NASDAQ:DBX) last posted its quarterly earnings data on Thursday, November 7th. The company reported $0.13 earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.04) by $0.17. The firm had revenue of $428.20 million during the quarter, compared to analysts’ expectations of $423.48 million. Dropbox had a negative return on equity of 6.57% and a negative net margin of 2.91%. The business’s quarterly revenue was up 18.8% on a year-over-year basis. During the same quarter last year, the firm earned $0.11 EPS. On average, equities research analysts anticipate that Dropbox Inc will post -0.12 earnings per share for the current fiscal year.

In related news, CTO Quentin Clark sold 8,333 shares of the firm’s stock in a transaction on Thursday, October 24th. The stock was sold at an average price of $20.06, for a total value of $167,159.98. Also, Director Condoleezza Rice sold 23,943 shares of the firm’s stock in a transaction on Monday, August 12th. The stock was sold at an average price of $18.38, for a total value of $440,072.34. The disclosure for this sale can be found here. Insiders sold a total of 84,276 shares of company stock valued at $1,666,898 in the last 90 days. 31.20% of the stock is currently owned by company insiders.

Dropbox Profile

Dropbox, Inc provides a collaboration platform worldwide. Its platform allows individuals, 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. The company has approximately 500 million registered users across 180 countries.

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Institutional Ownership by Quarter for Dropbox (NASDAQ:DBX)

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