Sterling Capital Management LLC Has $334,000 Holdings in Dropbox, Inc. (NASDAQ:DBX)

Sterling Capital Management LLC grew its stake in Dropbox, Inc. (NASDAQ:DBX) by 40.2% in the fourth quarter, HoldingsChannel reports. The fund owned 11,112 shares of the company’s stock after acquiring an additional 3,187 shares during the period. Sterling Capital Management LLC’s holdings in Dropbox were worth $334,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of DBX. Retirement Systems of Alabama boosted its position in Dropbox by 15.2% in the 3rd quarter. Retirement Systems of Alabama now owns 944,033 shares of the company’s stock valued at $24,007,000 after buying an additional 124,528 shares during the last quarter. CWA Asset Management Group LLC bought a new position in Dropbox in the fourth quarter valued at about $3,205,000. Sanctuary Advisors LLC acquired a new stake in Dropbox in the third quarter worth about $268,000. Empowered Funds LLC raised its holdings in Dropbox by 68.0% during the 4th quarter. Empowered Funds LLC now owns 36,140 shares of the company’s stock worth $1,086,000 after purchasing an additional 14,629 shares during the last quarter. Finally, Exchange Traded Concepts LLC lifted its position in Dropbox by 291.4% during the 4th quarter. Exchange Traded Concepts LLC now owns 124,991 shares of the company’s stock valued at $3,755,000 after purchasing an additional 93,058 shares during the period. 94.84% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

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

Dropbox Trading Up 1.0 %

NASDAQ:DBX opened at $27.11 on Friday. Dropbox, Inc. has a 1-year low of $20.68 and a 1-year high of $33.33. The firm has a market capitalization of $8.18 billion, a price-to-earnings ratio of 19.23, a PEG ratio of 1.70 and a beta of 0.75. The business’s 50-day moving average price is $27.28 and its two-hundred day moving average price is $28.27.

Dropbox (NASDAQ:DBX) last announced its quarterly earnings results on Thursday, February 20th. The company reported $0.51 earnings per share for the quarter, missing analysts’ consensus estimates of $0.62 by ($0.11). The firm had revenue of $643.60 million during the quarter, compared to analyst estimates of $638.61 million. Dropbox had a net margin of 17.75% and a negative return on equity of 132.63%. Sell-side analysts predict that Dropbox, Inc. will post 1.64 earnings per share for the current year.

Insider Activity

In other news, CEO Andrew Houston sold 80,499 shares of Dropbox stock in a transaction dated Tuesday, January 21st. The stock was sold at an average price of $30.97, for a total transaction of $2,493,054.03. Following the transaction, the chief executive officer now owns 8,266,666 shares in the company, valued at $256,018,646.02. The trade was a 0.96 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Eric Cox sold 3,765 shares of the stock in a transaction that occurred on Thursday, February 27th. The stock was sold at an average price of $26.30, for a total value of $99,019.50. Following the sale, the insider now directly owns 309,550 shares of the company’s stock, valued at approximately $8,141,165. The trade was a 1.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 94,264 shares of company stock valued at $2,886,749 in the last quarter. Company insiders own 28.59% of the company’s stock.

About Dropbox

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.