IVY Lane Capital Management LLC Reduces Stock Position in Dropbox, Inc. (NASDAQ:DBX)

IVY Lane Capital Management LLC trimmed its position in Dropbox, Inc. (NASDAQ:DBX) by 28.0% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 90,000 shares of the company’s stock after selling 35,000 shares during the period. Dropbox accounts for 1.5% of IVY Lane Capital Management LLC’s investment portfolio, making the stock its 12th biggest position. IVY Lane Capital Management LLC’s holdings in Dropbox were worth $2,704,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in DBX. Orion Portfolio Solutions LLC boosted its position in Dropbox by 18.2% during the 4th quarter. Orion Portfolio Solutions LLC now owns 31,975 shares of the company’s stock valued at $961,000 after acquiring an additional 4,915 shares in the last quarter. denkapparat Operations GmbH purchased a new stake in Dropbox in the fourth quarter worth approximately $284,000. Pictet Asset Management Holding SA boosted its holdings in shares of Dropbox by 10.5% in the fourth quarter. Pictet Asset Management Holding SA now owns 34,810 shares of the company’s stock worth $1,046,000 after buying an additional 3,297 shares during the last quarter. New Age Alpha Advisors LLC bought a new position in Dropbox in the fourth quarter worth approximately $1,578,000. Finally, Norges Bank purchased a new stake in Dropbox in the 4th quarter worth approximately $20,482,000. 94.84% of the stock is currently owned by institutional investors.

Dropbox Stock Down 1.4 %

Shares of DBX opened at $26.56 on Friday. Dropbox, Inc. has a twelve month low of $20.68 and a twelve month high of $33.33. The company has a 50 day moving average of $29.03 and a two-hundred day moving average of $28.03. The company has a market cap of $8.01 billion, a price-to-earnings ratio of 18.84, a price-to-earnings-growth ratio of 1.70 and a beta of 0.77.

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

Analyst Ratings Changes

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

Insider Activity

In other Dropbox news, CFO Timothy Regan sold 2,500 shares of the company’s stock in a transaction on Monday, December 30th. The shares were sold at an average price of $30.38, for a total value of $75,950.00. Following the completion of the transaction, the chief financial officer now owns 413,764 shares in the company, valued at $12,570,150.32. This represents a 0.60 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing 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 $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. In the last quarter, insiders have sold 634,504 shares of company stock valued at $18,935,530. 28.59% of the stock is currently owned by insiders.

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.