Mutual of America Capital Management LLC Lowers Position in Dropbox, Inc. (NASDAQ:DBX)

Mutual of America Capital Management LLC decreased its position in shares of Dropbox, Inc. (NASDAQ:DBX) by 5.5% during the 4th quarter, Holdings Channel.com reports. The fund owned 158,399 shares of the company’s stock after selling 9,305 shares during the period. Mutual of America Capital Management LLC’s holdings in Dropbox were worth $4,670,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Contravisory Investment Management Inc. acquired a new position in Dropbox during the 4th quarter worth about $26,000. Fifth Third Bancorp boosted its stake in shares of Dropbox by 424.2% in the 3rd quarter. Fifth Third Bancorp now owns 1,085 shares of the company’s stock valued at $30,000 after buying an additional 878 shares during the period. Cary Street Partners Investment Advisory LLC boosted its stake in shares of Dropbox by 29,175.0% in the 3rd quarter. Cary Street Partners Investment Advisory LLC now owns 1,171 shares of the company’s stock valued at $32,000 after buying an additional 1,167 shares during the period. Atlas Capital Advisors LLC purchased a new position in shares of Dropbox in the 2nd quarter valued at about $35,000. Finally, Covestor Ltd boosted its stake in shares of Dropbox by 446.6% in the 1st quarter. Covestor Ltd now owns 1,372 shares of the company’s stock valued at $32,000 after buying an additional 1,121 shares during the period. Institutional investors and hedge funds own 94.84% of the company’s stock.

Insiders Place Their Bets

In other news, CFO Timothy Regan sold 3,000 shares of the business’s stock in a transaction that occurred on Wednesday, March 27th. The stock was sold at an average price of $24.36, for a total value of $73,080.00. Following the transaction, the chief financial officer now owns 400,720 shares of the company’s stock, valued at $9,761,539.20. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other news, CFO Timothy Regan sold 3,000 shares of the business’s stock in a transaction that occurred on Wednesday, March 27th. The stock was sold at an average price of $24.36, for a total value of $73,080.00. Following the transaction, the chief financial officer now owns 400,720 shares of the company’s stock, valued at $9,761,539.20. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Andrew Houston sold 164,000 shares of the business’s stock in a transaction that occurred on Tuesday, March 5th. The shares were sold at an average price of $23.86, for a total value of $3,913,040.00. Following the completion of the transaction, the chief executive officer now directly owns 8,266,666 shares in the company, valued at approximately $197,242,650.76. The disclosure for this sale can be found here. Insiders have sold a total of 180,039 shares of company stock valued at $4,324,757 over the last quarter. Company insiders own 25.78% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the company. Citigroup decreased their price objective on Dropbox from $31.00 to $27.00 and set a “neutral” rating for the company in a research note on Friday, March 22nd. KeyCorp lifted their price objective on Dropbox from $32.00 to $37.00 and gave the company an “overweight” rating in a research note on Friday, January 19th. JPMorgan Chase & Co. cut Dropbox from an “overweight” rating to a “neutral” rating and decreased their target price for the stock from $33.00 to $30.00 in a research note on Friday, February 16th. The Goldman Sachs Group cut Dropbox from a “neutral” rating to a “sell” rating and decreased their target price for the stock from $26.00 to $24.00 in a research note on Friday, February 16th. Finally, JMP Securities cut Dropbox from an “outperform” rating to a “market perform” rating in a research note on Friday, February 16th. Three investment analysts have rated the stock with a sell rating, four have assigned a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, Dropbox presently has an average rating of “Hold” and a consensus price target of $29.78.

Dropbox Stock Down 0.3 %

DBX opened at $22.92 on Tuesday. The firm has a market cap of $7.88 billion, a price-to-earnings ratio of 17.36, a price-to-earnings-growth ratio of 2.59 and a beta of 0.71. Dropbox, Inc. has a 52 week low of $19.55 and a 52 week high of $33.43. The business’s 50 day moving average is $25.33 and its two-hundred day moving average is $27.55.

Dropbox (NASDAQ:DBX) last released its quarterly earnings results on Thursday, February 15th. The company reported $0.25 EPS for the quarter, missing the consensus estimate of $0.26 by ($0.01). The firm had revenue of $635.00 million for the quarter, compared to analyst estimates of $630.77 million. Dropbox had a negative return on equity of 120.82% and a net margin of 18.13%. Equities analysts expect that Dropbox, Inc. will post 1.14 EPS for the current fiscal year.

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.