Illinois Municipal Retirement Fund Has $7.28 Million Stock Position in Dropbox, Inc. $DBX

Illinois Municipal Retirement Fund boosted its position in shares of Dropbox, Inc. (NASDAQ:DBX) by 40.9% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 254,595 shares of the company’s stock after purchasing an additional 73,872 shares during the quarter. Illinois Municipal Retirement Fund’s holdings in Dropbox were worth $7,281,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently modified their holdings of the company. Acadian Asset Management LLC grew its position in shares of Dropbox by 1.9% during the 1st quarter. Acadian Asset Management LLC now owns 8,544,978 shares of the company’s stock worth $228,202,000 after buying an additional 157,148 shares during the period. LSV Asset Management boosted its stake in Dropbox by 18.4% in the first quarter. LSV Asset Management now owns 7,633,516 shares of the company’s stock valued at $203,891,000 after acquiring an additional 1,187,395 shares during the last quarter. Charles Schwab Investment Management Inc. grew its holdings in Dropbox by 1.2% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 2,950,273 shares of the company’s stock worth $78,802,000 after acquiring an additional 36,268 shares during the period. Caisse DE Depot ET Placement DU Quebec raised its position in shares of Dropbox by 38.1% during the 1st quarter. Caisse DE Depot ET Placement DU Quebec now owns 2,482,705 shares of the company’s stock valued at $66,313,000 after acquiring an additional 684,882 shares during the last quarter. Finally, Wedge Capital Management L L P NC lifted its stake in shares of Dropbox by 4.0% in the 2nd quarter. Wedge Capital Management L L P NC now owns 2,227,560 shares of the company’s stock valued at $63,708,000 after purchasing an additional 86,534 shares during the period. Institutional investors own 94.84% of the company’s stock.

Insider Buying and Selling at Dropbox

In related news, insider Ashraf Alkarmi sold 10,000 shares of the business’s stock in a transaction on Monday, September 8th. The shares were sold at an average price of $30.00, for a total value of $300,000.00. Following the sale, the insider directly owned 459,333 shares of the company’s stock, valued at approximately $13,779,990. The trade was a 2.13% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CAO Sarah Elizabeth Schubach sold 1,066 shares of the company’s stock in a transaction on Thursday, October 30th. The stock was sold at an average price of $28.40, for a total transaction of $30,274.40. Following the completion of the transaction, the chief accounting officer directly owned 103,591 shares of the company’s stock, valued at approximately $2,941,984.40. The trade was a 1.02% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 318,698 shares of company stock valued at $9,251,159 over the last quarter. 28.59% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of equities research analysts recently commented on DBX shares. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Dropbox in a research note on Wednesday, October 8th. Royal Bank Of Canada raised their target price on Dropbox from $35.00 to $38.00 and gave the stock an “outperform” rating in a report on Friday, November 7th. UBS Group cut Dropbox from a “neutral” rating to a “sell” rating and lowered their price target for the company from $29.00 to $27.00 in a research note on Thursday, September 18th. Finally, Wall Street Zen raised shares of Dropbox from a “hold” rating to a “buy” rating in a research note on Saturday. One research analyst has rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $31.75.

Dropbox Price Performance

NASDAQ:DBX opened at $31.10 on Wednesday. The business’s 50-day simple moving average is $29.88 and its 200-day simple moving average is $28.82. Dropbox, Inc. has a fifty-two week low of $24.42 and a fifty-two week high of $33.33. The stock has a market capitalization of $8.39 billion, a PE ratio of 17.57, a price-to-earnings-growth ratio of 2.77 and a beta of 0.65.

Dropbox (NASDAQ:DBX) last announced its earnings results on Thursday, November 6th. The company reported $0.74 EPS for the quarter, topping the consensus estimate of $0.64 by $0.10. Dropbox had a net margin of 19.87% and a negative return on equity of 49.51%. The firm had revenue of $634.40 million for the quarter, compared to the consensus estimate of $623.59 million. During the same period last year, the company posted $0.60 EPS. The business’s quarterly revenue was down .7% on a year-over-year basis. Dropbox has set its FY 2025 guidance at EPS. Q4 2025 guidance at EPS. On average, research analysts expect that Dropbox, Inc. will post 1.64 earnings per share for the current year.

Dropbox Company 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.