Teacher Retirement System of Texas Acquires 100,886 Shares of Dropbox, Inc. (NASDAQ:DBX)

Teacher Retirement System of Texas boosted its holdings in shares of Dropbox, Inc. (NASDAQ:DBX) by 70.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 243,626 shares of the company’s stock after purchasing an additional 100,886 shares during the quarter. Teacher Retirement System of Texas owned about 0.08% of Dropbox worth $7,319,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the business. Natixis Advisors LLC bought a new stake in shares of Dropbox in the 3rd quarter worth approximately $270,000. Thrivent Financial for Lutherans lifted its position in shares of Dropbox by 12.6% in the 3rd quarter. Thrivent Financial for Lutherans now owns 65,771 shares of the company’s stock worth $1,672,000 after acquiring an additional 7,385 shares during the period. Advisors Asset Management Inc. lifted its position in shares of Dropbox by 12.0% in the 3rd quarter. Advisors Asset Management Inc. now owns 27,593 shares of the company’s stock worth $702,000 after acquiring an additional 2,960 shares during the period. Massachusetts Financial Services Co. MA lifted its position in shares of Dropbox by 25.0% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 615,879 shares of the company’s stock worth $15,662,000 after acquiring an additional 123,000 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its position in shares of Dropbox by 8.9% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,796,238 shares of the company’s stock worth $71,108,000 after acquiring an additional 228,685 shares during the period. Institutional investors own 94.84% of the company’s stock.

Analysts Set New Price Targets

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

Insider Buying and Selling

In related news, CEO Andrew Houston sold 500,323 shares of the firm’s stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $29.65, for a total transaction of $14,834,576.95. Following the completion of the sale, the chief executive officer now directly owns 8,266,666 shares of the company’s stock, valued at $245,106,646.90. This trade represents a 5.71 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Timothy Regan sold 2,500 shares of the firm’s stock in a transaction on Friday, February 7th. The shares were sold at an average price of $32.19, for a total value of $80,475.00. Following the sale, the chief financial officer now directly owns 396,264 shares of the company’s stock, valued at $12,755,738.16. This represents a 0.63 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 634,504 shares of company stock worth $18,935,530 in the last 90 days. 28.59% of the stock is owned by company insiders.

Dropbox Price Performance

Dropbox stock opened at $26.50 on Friday. The company has a market capitalization of $8.00 billion, a PE ratio of 18.79, a price-to-earnings-growth ratio of 1.70 and a beta of 0.77. Dropbox, Inc. has a one year low of $20.68 and a one year high of $33.33. The business has a 50 day simple moving average of $29.36 and a 200 day simple moving average of $27.94.

Dropbox (NASDAQ:DBX) last posted its earnings results on Thursday, February 20th. The company reported $0.51 EPS for the quarter, missing the consensus estimate of $0.62 by ($0.11). The company 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%. Equities analysts anticipate that Dropbox, Inc. will post 1.64 earnings per share 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.