Dropbox, Inc. $DBX Stock Sold by Robeco Institutional Asset Management B.V.

Robeco Institutional Asset Management B.V. trimmed its holdings in shares of Dropbox, Inc. (NASDAQ:DBX) by 29.8% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,207,116 shares of the company’s stock after selling 937,011 shares during the quarter. Robeco Institutional Asset Management B.V.’s holdings in Dropbox were worth $74,711,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in the business. Arrowstreet Capital Limited Partnership boosted its holdings in Dropbox by 12.7% in the first quarter. Arrowstreet Capital Limited Partnership now owns 8,533,736 shares of the company’s stock worth $193,886,000 after acquiring an additional 960,109 shares in the last quarter. Wedge Capital Management L L P NC grew its stake in shares of Dropbox by 26.4% during the second quarter. Wedge Capital Management L L P NC now owns 3,005,173 shares of the company’s stock worth $82,552,000 after acquiring an additional 627,111 shares during the last quarter. Pacer Advisors Inc. grew its stake in shares of Dropbox by 2.8% during the first quarter. Pacer Advisors Inc. now owns 2,047,966 shares of the company’s stock worth $46,530,000 after acquiring an additional 55,921 shares during the last quarter. KBC Group NV grew its stake in shares of Dropbox by 12.6% during the first quarter. KBC Group NV now owns 944,829 shares of the company’s stock worth $21,466,000 after acquiring an additional 105,876 shares during the last quarter. Finally, Principal Financial Group Inc. grew its stake in shares of Dropbox by 4.0% during the first quarter. Principal Financial Group Inc. now owns 390,386 shares of the company’s stock worth $8,870,000 after acquiring an additional 15,027 shares during the last quarter. 94.84% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

DBX has been the topic of several recent analyst reports. William Blair upgraded shares of Dropbox from an “underperform” rating to a “market perform” rating in a report on Friday, August 7th. Weiss Ratings upgraded shares of Dropbox from a “hold (c)” rating to a “hold (c+)” rating in a research note on Thursday, August 13th. Bank of America reiterated an “underperform” rating on shares of Dropbox in a research note on Friday, August 7th. Royal Bank Of Canada reissued an “outperform” rating and set a $42.00 target price on shares of Dropbox in a research report on Thursday, September 3rd. Finally, Wall Street Zen lowered shares of Dropbox from a “buy” rating to a “hold” rating in a research note on Saturday, August 8th. One analyst has rated the stock with a Buy rating, four have given a Hold rating and three have issued a Sell rating to the company. According to MarketBeat.com, Dropbox has an average rating of “Reduce” and a consensus price target of $29.75.

Dropbox Stock Performance

Shares of DBX opened at $37.48 on Friday. The stock has a 50-day moving average of $34.90 and a two-hundred day moving average of $30.24. Dropbox, Inc. has a one year low of $21.69 and a one year high of $38.17. The stock has a market cap of $8.46 billion, a P/E ratio of 20.82, a P/E/G ratio of 5.39 and a beta of 0.63.

Dropbox (NASDAQ:DBX) last announced its quarterly earnings data on Thursday, August 6th. The company reported $0.75 earnings per share for the quarter, beating analysts’ consensus estimates of $0.74 by $0.01. Dropbox had a negative return on equity of 24.26% and a net margin of 17.49%. The business had revenue of $631.50 million for the quarter, compared to analyst estimates of $626.69 million. During the same period in the prior year, the company earned $0.71 earnings per share. The company’s revenue was up .9% on a year-over-year basis. Analysts predict that Dropbox, Inc. will post 1.94 EPS for the current fiscal year.

Insider Activity

In related news, CFO Ross Tennenbaum sold 97,558 shares of the company’s stock in a transaction that occurred on Thursday, September 10th. The stock was sold at an average price of $35.02, for a total value of $3,416,481.16. Following the sale, the chief financial officer owned 690,666 shares in the company, valued at $24,187,123.32. This represents a 12.38% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Andrew Houston sold 29,500 shares of the stock in a transaction that occurred on Monday, October 12th. The stock was sold at an average price of $35.09, for a total transaction of $1,035,155.00. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders have sold 951,100 shares of company stock valued at $32,927,493. 35.48% of the stock is owned by insiders.

About Dropbox

Dropbox, Inc (NASDAQ: DBX) is a software company that provides cloud-based tools for storing, organizing, sharing and collaborating on files. Its platform enables individuals, businesses and teams to access documents, photos and other content across connected devices, synchronize files and manage shared workflows.

The company’s offerings include Dropbox for cloud storage and file collaboration, Dropbox Paper for shared documents and project work, Dropbox Sign for electronic signatures, and DocSend for securely sharing and tracking business documents.