Dropbox, Inc. (NASDAQ:DBX) Shares Sold by Landscape Capital Management L.L.C.

Landscape Capital Management L.L.C. trimmed its holdings in Dropbox, Inc. (NASDAQ:DBX) by 70.8% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 31,903 shares of the company’s stock after selling 77,171 shares during the quarter. Landscape Capital Management L.L.C.’s holdings in Dropbox were worth $958,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently added to or reduced their stakes in DBX. Retirement Systems of Alabama boosted its position in Dropbox by 15.2% during the 3rd quarter. Retirement Systems of Alabama now owns 944,033 shares of the company’s stock worth $24,007,000 after acquiring an additional 124,528 shares during the period. CWA Asset Management Group LLC bought a new position in Dropbox in the 4th quarter valued at about $3,205,000. Sanctuary Advisors LLC acquired a new position in Dropbox during the 3rd quarter valued at about $268,000. Empowered Funds LLC lifted its stake in shares of Dropbox by 68.0% in the 4th quarter. Empowered Funds LLC now owns 36,140 shares of the company’s stock worth $1,086,000 after acquiring an additional 14,629 shares during the period. Finally, Holocene Advisors LP raised its holdings in Dropbox by 478.3% during the third quarter. Holocene Advisors LP now owns 92,160 shares of the company’s stock worth $2,344,000 after purchasing an additional 76,225 shares in the last quarter. 94.84% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, CFO Timothy Regan sold 2,500 shares of the company’s stock in a transaction on Friday, March 28th. The stock was sold at an average price of $26.57, for a total transaction of $66,425.00. Following the transaction, the chief financial officer now directly owns 367,791 shares of the company’s stock, valued at approximately $9,772,206.87. The trade was a 0.68 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Eric Cox sold 3,765 shares of the firm’s 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 sale, the insider now 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. Insiders sold 124,181 shares of company stock worth $3,794,928 over the last quarter. Corporate insiders own 28.59% of the company’s stock.

Analyst Ratings Changes

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

Dropbox Stock Down 5.1 %

Shares of NASDAQ DBX opened at $25.45 on Friday. The business has a fifty day simple moving average of $28.59 and a 200-day simple moving average of $28.14. The company has a market cap of $7.68 billion, a price-to-earnings ratio of 18.05, a P/E/G ratio of 1.70 and a beta of 0.75. Dropbox, Inc. has a 12 month low of $20.68 and a 12 month high of $33.33.

Dropbox (NASDAQ:DBX) last issued its quarterly 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). Dropbox had a net margin of 17.75% and a negative return on equity of 132.63%. The firm had revenue of $643.60 million during the quarter, compared to analysts’ expectations of $638.61 million. As a group, sell-side analysts expect that Dropbox, Inc. will post 1.64 EPS for the current fiscal year.

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.