CANADA LIFE ASSURANCE Co Sells 45,091 Shares of Dropbox, Inc. (NASDAQ:DBX)

CANADA LIFE ASSURANCE Co trimmed its holdings in shares of Dropbox, Inc. (NASDAQ:DBX) by 12.4% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 317,108 shares of the company’s stock after selling 45,091 shares during the quarter. CANADA LIFE ASSURANCE Co’s holdings in Dropbox were worth $9,525,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of DBX. Arrowstreet Capital Limited Partnership raised its position in Dropbox by 38.1% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 5,224,864 shares of the company’s stock worth $156,955,000 after purchasing an additional 1,440,887 shares during the last quarter. LSV Asset Management lifted its stake in shares of Dropbox by 24.0% in the fourth quarter. LSV Asset Management now owns 6,446,121 shares of the company’s stock worth $193,641,000 after acquiring an additional 1,245,563 shares during the period. KLP Kapitalforvaltning AS bought a new stake in Dropbox in the fourth quarter valued at approximately $25,375,000. Norges Bank acquired a new stake in Dropbox during the 4th quarter valued at approximately $20,482,000. Finally, Bridgewater Associates LP raised its holdings in Dropbox by 39.7% during the 4th quarter. Bridgewater Associates LP now owns 981,914 shares of the company’s stock worth $29,497,000 after purchasing an additional 278,902 shares during the last quarter. Institutional investors own 94.84% of the company’s stock.

Dropbox Price Performance

NASDAQ DBX opened at $26.67 on Tuesday. 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 $27.17 and a 200 day simple moving average of $28.30. The stock has a market capitalization of $8.05 billion, a P/E ratio of 18.92, a P/E/G ratio of 1.70 and a beta of 0.75.

Dropbox (NASDAQ:DBX) last released its quarterly earnings data on Thursday, February 20th. The company reported $0.51 earnings per share for the quarter, missing the consensus estimate of $0.62 by ($0.11). The company had revenue of $643.60 million during the quarter, compared to the consensus estimate of $638.61 million. Dropbox had a net margin of 17.75% and a negative return on equity of 132.63%. Equities analysts expect that Dropbox, Inc. will post 1.64 earnings per share for the current year.

Insider Activity

In related news, CFO Timothy Regan sold 2,500 shares of the company’s stock in a transaction that occurred on Friday, February 7th. The stock was sold at an average price of $32.19, for a total transaction of $80,475.00. Following the transaction, the chief financial officer now directly owns 396,264 shares of the company’s stock, valued at approximately $12,755,738.16. This represents a 0.63 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 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 completion of the transaction, the insider now owns 309,550 shares in the company, valued at approximately $8,141,165. The trade was a 1.20 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 13,765 shares of company stock worth $393,695. Company insiders own 28.59% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Jefferies Financial Group upped their price objective on shares of Dropbox from $27.00 to $30.00 and gave the company a “hold” rating in a research note on Monday, January 6th.

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.