Tudor Investment Corp ET AL Invests $7.44 Million in Dropbox, Inc. (NASDAQ:DBX)

Tudor Investment Corp ET AL acquired a new position in shares of Dropbox, Inc. (NASDAQ:DBX - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 247,662 shares of the company's stock, valued at approximately $7,440,000. Tudor Investment Corp ET AL owned about 0.08% of Dropbox as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. EverSource Wealth Advisors LLC grew its stake in shares of Dropbox by 96.1% during the 4th quarter. EverSource Wealth Advisors LLC now owns 865 shares of the company's stock valued at $26,000 after buying an additional 424 shares during the period. Avion Wealth grew its position in Dropbox by 4,472.7% during the fourth quarter. Avion Wealth now owns 1,006 shares of the company's stock valued at $30,000 after acquiring an additional 984 shares during the period. SBI Securities Co. Ltd. acquired a new stake in Dropbox during the fourth quarter worth about $40,000. Allworth Financial LP raised its holdings in shares of Dropbox by 33.5% in the 4th quarter. Allworth Financial LP now owns 1,456 shares of the company's stock worth $45,000 after purchasing an additional 365 shares during the period. Finally, Huntington National Bank raised its holdings in shares of Dropbox by 768.9% in the 4th quarter. Huntington National Bank now owns 1,538 shares of the company's stock worth $46,000 after purchasing an additional 1,361 shares during the period. Hedge funds and other institutional investors own 94.84% of the company's stock.

Insiders Place Their Bets

In other Dropbox news, CFO Timothy Regan sold 2,500 shares of the company's stock in a transaction dated Wednesday, April 30th. The shares were sold at an average price of $28.29, for a total value of $70,725.00. Following the completion of the transaction, the chief financial officer now directly owns 562,568 shares of the company's stock, valued at $15,915,048.72. This represents a 0.44 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Eric Cox sold 3,765 shares of Dropbox 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 directly owns 309,550 shares in the company, valued at approximately $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 a total of 13,765 shares of company stock worth $383,995 in the last 90 days. 28.59% of the stock is owned by company insiders.

Dropbox Stock Performance

Shares of NASDAQ:DBX traded down $0.23 during midday trading on Friday, hitting $28.61. 4,139,767 shares of the company's stock traded hands, compared to its average volume of 3,638,204. The firm's fifty day moving average price is $26.77 and its two-hundred day moving average price is $28.42. Dropbox, Inc. has a twelve month low of $20.68 and a twelve month high of $33.33. The company has a market cap of $8.63 billion, a PE ratio of 20.29, a P/E/G ratio of 1.70 and a beta of 0.68.

Dropbox (NASDAQ:DBX - Get Free Report) last issued its quarterly earnings data on Thursday, February 20th. The company reported $0.51 EPS 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 company had revenue of $643.60 million for the quarter, compared to analyst estimates of $638.61 million. As a group, equities research analysts anticipate that Dropbox, Inc. will post 1.64 EPS for the current fiscal year.

Wall Street Analyst Weigh In

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

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.