Illinois Municipal Retirement Fund Purchases 28,923 Shares of Dropbox, Inc. (NASDAQ:DBX)

Illinois Municipal Retirement Fund lifted its position in shares of Dropbox, Inc. (NASDAQ:DBX) by 19.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 180,723 shares of the company’s stock after buying an additional 28,923 shares during the quarter. Illinois Municipal Retirement Fund owned about 0.06% of Dropbox worth $5,429,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of the company. Avion Wealth grew its holdings in Dropbox by 4,472.7% during the 4th quarter. Avion Wealth now owns 1,006 shares of the company’s stock worth $30,000 after acquiring an additional 984 shares during the period. Capital Performance Advisors LLP bought a new stake in shares of Dropbox during the 3rd quarter valued at about $28,000. Allworth Financial LP grew its stake in Dropbox by 33.5% during the fourth quarter. Allworth Financial LP now owns 1,456 shares of the company’s stock worth $45,000 after purchasing an additional 365 shares during the period. V Square Quantitative Management LLC grew its stake in Dropbox by 39.0% during the fourth quarter. V Square Quantitative Management LLC now owns 1,717 shares of the company’s stock worth $52,000 after purchasing an additional 482 shares during the period. Finally, Fifth Third Bancorp increased its holdings in Dropbox by 35.6% in the fourth quarter. Fifth Third Bancorp now owns 1,798 shares of the company’s stock worth $54,000 after purchasing an additional 472 shares in the last quarter. Institutional investors own 94.84% of the company’s stock.

Analysts Set New Price Targets

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

Dropbox Trading Up 0.7 %

Shares of NASDAQ DBX opened at $26.60 on Thursday. The firm has a market capitalization of $8.24 billion, a P/E ratio of 18.86, a P/E/G ratio of 1.70 and a beta of 0.61. The firm’s 50-day moving average price is $30.82 and its 200-day moving average price is $27.70. Dropbox, Inc. has a 1-year low of $20.68 and a 1-year high of $33.33.

Dropbox (NASDAQ:DBX) last posted 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 for the quarter, compared to analyst estimates of $638.61 million. Dropbox had a negative return on equity of 132.63% and a net margin of 17.75%. Equities research analysts forecast that Dropbox, Inc. will post 1.64 EPS for the current year.

Insider Transactions at Dropbox

In other Dropbox news, CFO Timothy Regan sold 10,000 shares of Dropbox stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $29.65, for a total transaction of $296,500.00. Following the completion of the transaction, the chief financial officer now owns 403,764 shares in the company, valued at approximately $11,971,602.60. The trade was a 2.42 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Andrew Houston sold 132,000 shares of the business’s stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $28.12, for a total value of $3,711,840.00. Following the sale, the chief executive officer now directly owns 8,266,666 shares of the company’s stock, valued at $232,458,647.92. This represents a 1.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 900,238 shares of company stock valued at $26,680,195 over the last ninety days. 28.59% of the stock is owned by company insiders.

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.