Louisiana State Employees Retirement System Makes New Investment in Dropbox, Inc. (NASDAQ:DBX)

Louisiana State Employees Retirement System purchased a new position in shares of Dropbox, Inc. (NASDAQ:DBX) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 72,000 shares of the company’s stock, valued at approximately $2,123,000.

Other large investors also recently made changes to their positions in the company. AlphaQ Advisors LLC purchased a new position in shares of Dropbox in the 4th quarter worth $265,000. Clarius Group LLC purchased a new position in shares of Dropbox in the 4th quarter worth $206,000. Cerity Partners LLC raised its position in shares of Dropbox by 0.7% in the 4th quarter. Cerity Partners LLC now owns 79,052 shares of the company’s stock worth $2,330,000 after buying an additional 565 shares during the period. DekaBank Deutsche Girozentrale raised its position in shares of Dropbox by 65.8% in the 4th quarter. DekaBank Deutsche Girozentrale now owns 2,189,593 shares of the company’s stock worth $64,825,000 after buying an additional 869,043 shares during the period. Finally, Stratos Wealth Partners LTD. raised its position in shares of Dropbox by 1.8% in the 4th quarter. Stratos Wealth Partners LTD. now owns 23,086 shares of the company’s stock worth $681,000 after buying an additional 415 shares during the period. Hedge funds and other institutional investors own 94.84% of the company’s stock.

Dropbox Price Performance

Shares of Dropbox stock opened at $22.80 on Thursday. The business has a 50-day moving average of $25.13 and a 200-day moving average of $27.52. The company has a market capitalization of $7.84 billion, a PE ratio of 17.27, a P/E/G ratio of 2.58 and a beta of 0.71. Dropbox, Inc. has a 1-year low of $19.55 and a 1-year high of $33.43.

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

Insider Activity

In other news, CFO Timothy Regan sold 3,000 shares of the stock in a transaction dated Tuesday, January 30th. The shares were sold at an average price of $32.50, for a total transaction of $97,500.00. Following the transaction, the chief financial officer now owns 434,761 shares of the company’s stock, valued at $14,129,732.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, insider Bart Volkmer sold 6,682 shares of the stock in a transaction dated Monday, April 15th. The shares were sold at an average price of $23.12, for a total transaction of $154,487.84. Following the transaction, the insider now owns 372,332 shares of the company’s stock, valued at $8,608,315.84. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Timothy Regan sold 3,000 shares of the stock in a transaction dated Tuesday, January 30th. The stock was sold at an average price of $32.50, for a total transaction of $97,500.00. Following the transaction, the chief financial officer now directly owns 434,761 shares in the company, valued at approximately $14,129,732.50. The disclosure for this sale can be found here. Insiders sold 189,721 shares of company stock worth $4,548,575 over the last ninety days. Corporate insiders own 26.40% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on DBX. KeyCorp increased their target price on Dropbox from $32.00 to $37.00 and gave the stock an “overweight” rating in a research report on Friday, January 19th. JMP Securities downgraded Dropbox from an “outperform” rating to a “market perform” rating in a report on Friday, February 16th. Bank of America downgraded Dropbox from a “buy” rating to an “underperform” rating and lowered their price target for the company from $34.00 to $28.00 in a report on Friday, February 16th. JPMorgan Chase & Co. downgraded Dropbox from an “overweight” rating to a “neutral” rating and lowered their price target for the company from $33.00 to $30.00 in a report on Friday, February 16th. Finally, Citigroup lowered their price target on Dropbox from $31.00 to $27.00 and set a “neutral” rating for the company in a report on Friday, March 22nd. Three analysts have rated the stock with a sell rating, four have assigned a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, Dropbox currently has a consensus rating of “Hold” and an average target price of $29.78.

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.