Mutual of America Capital Management LLC Has $3.53 Million Stock Holdings in Dropbox, Inc. (NASDAQ:DBX)

Mutual of America Capital Management LLC lessened its holdings in Dropbox, Inc. (NASDAQ:DBX) by 8.3% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 117,581 shares of the company’s stock after selling 10,642 shares during the quarter. Mutual of America Capital Management LLC’s holdings in Dropbox were worth $3,532,000 as of its most recent SEC filing.

A number of other large investors have also recently modified their holdings of DBX. Pacer Advisors Inc. boosted its holdings in shares of Dropbox by 4.5% during the 3rd quarter. Pacer Advisors Inc. now owns 7,788,652 shares of the company’s stock valued at $198,065,000 after acquiring an additional 333,245 shares in the last quarter. Jacobs Levy Equity Management Inc. boosted its holdings in shares of Dropbox by 6.2% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 6,239,493 shares of the company’s stock valued at $158,670,000 after acquiring an additional 365,893 shares in the last quarter. Geode Capital Management LLC boosted its holdings in shares of Dropbox by 0.6% during the 3rd quarter. Geode Capital Management LLC now owns 4,366,271 shares of the company’s stock valued at $111,368,000 after acquiring an additional 25,893 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in shares of Dropbox by 8.9% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,796,238 shares of the company’s stock valued at $71,108,000 after acquiring an additional 228,685 shares in the last quarter. Finally, Retirement Systems of Alabama boosted its holdings in shares of Dropbox by 15.2% during the 3rd quarter. Retirement Systems of Alabama now owns 944,033 shares of the company’s stock valued at $24,007,000 after acquiring an additional 124,528 shares in the last quarter. Institutional investors and hedge funds own 94.84% of the company’s stock.

Insiders Place Their Bets

In other news, insider Eric Cox sold 3,765 shares of Dropbox stock in a transaction dated 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 directly owns 309,550 shares of the company’s stock, valued at approximately $8,141,165. This trade represents a 1.20 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Andrew Houston sold 500,323 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 value of $14,834,576.95. Following the completion of the transaction, the chief executive officer now directly owns 8,266,666 shares of the company’s stock, valued at approximately $245,106,646.90. This trade represents a 5.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 772,003 shares of company stock valued at $23,067,375. 28.59% of the stock is currently owned by company insiders.

Dropbox Stock Performance

Shares of DBX opened at $26.32 on Thursday. The company has a market capitalization of $7.94 billion, a PE ratio of 18.67, a PEG ratio of 1.70 and a beta of 0.77. Dropbox, Inc. has a 12 month low of $20.68 and a 12 month high of $33.33. The stock’s 50-day moving average price is $30.34 and its two-hundred day moving average price is $27.81.

Dropbox (NASDAQ:DBX) last announced 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 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 predict that Dropbox, Inc. will post 1.64 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

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

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.