Renaissance Technologies LLC Lowers Holdings in Dropbox, Inc. (NASDAQ:DBX)

Renaissance Technologies LLC lessened its position in shares of Dropbox, Inc. (NASDAQ:DBX) by 0.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 10,550,398 shares of the company’s stock after selling 77,865 shares during the period. Dropbox makes up 0.5% of Renaissance Technologies LLC’s portfolio, making the stock its 27th biggest position. Renaissance Technologies LLC owned about 3.41% of Dropbox worth $316,934,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of DBX. Cerity Partners LLC boosted its stake in Dropbox by 8.0% during the 4th quarter. Cerity Partners LLC now owns 104,295 shares of the company’s stock valued at $3,124,000 after acquiring an additional 7,758 shares during the last quarter. Aster Capital Management DIFC Ltd grew its position in shares of Dropbox by 783.5% in the 4th quarter. Aster Capital Management DIFC Ltd now owns 13,084 shares of the company’s stock worth $393,000 after acquiring an additional 11,603 shares in the last quarter. Russell Investments Group Ltd. increased its holdings in shares of Dropbox by 5.0% in the 4th quarter. Russell Investments Group Ltd. now owns 2,410,194 shares of the company’s stock valued at $72,526,000 after acquiring an additional 114,646 shares during the last quarter. Envestnet Asset Management Inc. grew its holdings in shares of Dropbox by 31.9% during the fourth quarter. Envestnet Asset Management Inc. now owns 39,526 shares of the company’s stock valued at $1,187,000 after purchasing an additional 9,570 shares during the last quarter. Finally, Resona Asset Management Co. Ltd. bought a new stake in shares of Dropbox in the 4th quarter worth approximately $411,000. Hedge funds and other institutional investors own 94.84% of the company’s stock.

Dropbox Trading Up 0.0 %

Shares of DBX opened at $25.46 on Tuesday. The stock has a market capitalization of $7.68 billion, a P/E ratio of 18.06, a P/E/G ratio of 1.70 and a beta of 0.75. Dropbox, Inc. has a 1-year low of $20.68 and a 1-year high of $33.33. The business’s 50-day moving average price is $28.46 and its 200 day moving average price is $28.17.

Dropbox (NASDAQ:DBX) last released its quarterly earnings results on Thursday, February 20th. The company reported $0.51 earnings per share (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 the consensus estimate of $638.61 million. Dropbox had a negative return on equity of 132.63% and a net margin of 17.75%. On average, research analysts predict that Dropbox, Inc. will post 1.64 earnings per share for the current year.

Wall Street Analysts Forecast Growth

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

Insider Buying and Selling

In other Dropbox news, insider Eric Cox sold 3,765 shares of the company’s stock in a transaction dated Thursday, February 27th. The shares were sold at an average price of $26.30, for a total transaction of $99,019.50. Following the sale, the insider now directly owns 309,550 shares of the company’s stock, valued at approximately $8,141,165. This represents a 1.20 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Timothy Regan sold 2,500 shares of the stock in a transaction dated Friday, March 28th. The stock was sold at an average price of $26.57, for a total transaction of $66,425.00. Following the sale, the chief financial officer now directly owns 367,791 shares in the company, valued at approximately $9,772,206.87. This represents a 0.68 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 94,264 shares of company stock valued at $2,895,324 over the last three months. 28.59% of the stock is owned by corporate 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.