Intrepid Capital Management Inc. Sells 59,438 Shares of Dropbox, Inc. (NASDAQ:DBX)

Intrepid Capital Management Inc. reduced its stake in Dropbox, Inc. (NASDAQ:DBX) by 49.0% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 61,891 shares of the company’s stock after selling 59,438 shares during the quarter. Intrepid Capital Management Inc.’s holdings in Dropbox were worth $1,859,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Arrowstreet Capital Limited Partnership boosted its holdings in Dropbox by 38.1% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 5,224,864 shares of the company’s stock worth $156,955,000 after acquiring an additional 1,440,887 shares in the last quarter. KLP Kapitalforvaltning AS purchased a new position in shares of Dropbox in the 4th quarter worth about $25,375,000. Norges Bank bought a new position in Dropbox in the 4th quarter worth about $20,482,000. Caisse DE Depot ET Placement DU Quebec purchased a new stake in Dropbox during the 3rd quarter valued at about $11,687,000. Finally, Jacobs Levy Equity Management Inc. increased its stake in 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 purchasing an additional 365,893 shares in the last quarter. Hedge funds and other institutional investors own 94.84% of the company’s stock.

Wall Street Analyst Weigh In

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

Insider Buying and Selling

In other news, CFO Timothy Regan sold 10,000 shares of the stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $29.65, for a total value of $296,500.00. Following the transaction, the chief financial officer now owns 403,764 shares in the company, valued at $11,971,602.60. This represents a 2.42 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Andrew Houston sold 500,323 shares of the firm’s stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $29.65, for a total transaction of $14,834,576.95. Following the completion of the transaction, the chief executive officer now directly owns 8,266,666 shares in the company, valued at approximately $245,106,646.90. The trade was a 5.71 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 634,504 shares of company stock worth $18,926,005. 28.59% of the stock is owned by insiders.

Dropbox Price Performance

DBX stock opened at $27.18 on Wednesday. The stock has a market capitalization of $8.20 billion, a P/E ratio of 19.28, a P/E/G ratio of 1.70 and a beta of 0.77. Dropbox, Inc. has a 1-year low of $20.68 and a 1-year high of $33.33. The business has a fifty day moving average price of $28.87 and a 200-day moving average price of $28.13.

Dropbox (NASDAQ:DBX) last issued its earnings results on Thursday, February 20th. The company reported $0.51 earnings per share for the quarter, missing analysts’ consensus estimates of $0.62 by ($0.11). Dropbox had a negative return on equity of 132.63% and a net margin of 17.75%. The business had revenue of $643.60 million during the quarter, compared to analysts’ expectations of $638.61 million. As a group, analysts anticipate that Dropbox, Inc. will post 1.64 earnings per share for the current 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.