Mubadala Investment Co PJSC Invests $2.46 Million in Dropbox, Inc. (NASDAQ:DBX)

Mubadala Investment Co PJSC purchased a new stake in Dropbox, Inc. (NASDAQ:DBX - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 81,750 shares of the company's stock, valued at approximately $2,456,000.

Several other institutional investors have also bought and sold shares of the stock. Cooper Financial Group boosted its stake in Dropbox by 39.8% in the fourth quarter. Cooper Financial Group now owns 22,466 shares of the company's stock worth $675,000 after purchasing an additional 6,395 shares in the last quarter. Oak Thistle LLC boosted its stake in Dropbox by 70.4% in the fourth quarter. Oak Thistle LLC now owns 32,249 shares of the company's stock worth $969,000 after purchasing an additional 13,320 shares in the last quarter. Empirical Asset Management LLC acquired a new position in Dropbox in the fourth quarter worth $229,000. Aaron Wealth Advisors LLC boosted its stake in Dropbox by 4.8% in the fourth quarter. Aaron Wealth Advisors LLC now owns 10,151 shares of the company's stock worth $305,000 after purchasing an additional 461 shares in the last quarter. Finally, Nisa Investment Advisors LLC boosted its stake in Dropbox by 10.0% in the fourth quarter. Nisa Investment Advisors LLC now owns 5,389 shares of the company's stock worth $162,000 after purchasing an additional 490 shares in the last quarter. Institutional investors and hedge funds own 94.84% of the company's stock.

Insider Activity at Dropbox

In related news, insider Eric Cox sold 3,765 shares of the company's 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 completion of the sale, the insider now owns 309,550 shares in the company, valued at approximately $8,141,165. This represents a 1.20% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CFO Timothy Regan sold 2,500 shares of the business'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 approximately $15,915,048.72. The trade was a 0.44% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 11,265 shares of company stock worth $303,520. 29.95% of the stock is owned by insiders.

Dropbox Price Performance

Shares of DBX stock traded down $0.55 on Friday, reaching $28.91. 6,112,663 shares of the stock were exchanged, compared to its average volume of 3,606,961. The stock has a market cap of $8.72 billion, a PE ratio of 20.50, a P/E/G ratio of 1.70 and a beta of 0.68. Dropbox, Inc. has a one year low of $20.68 and a one year high of $33.33. The stock has a 50 day moving average price of $27.43 and a 200 day moving average price of $28.65.

Dropbox (NASDAQ:DBX - Get Free Report) last released its earnings results on Thursday, May 8th. The company reported $0.70 earnings per share for the quarter, topping analysts' consensus estimates of $0.62 by $0.08. The company had revenue of $624.70 million during the quarter, compared to the consensus estimate of $619.56 million. Dropbox had a negative return on equity of 132.63% and a net margin of 17.75%. The firm's quarterly revenue was down 1.0% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.58 earnings per share. On average, research analysts expect that Dropbox, Inc. will post 1.64 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts have commented on DBX shares. UBS Group boosted their price objective on Dropbox from $30.00 to $31.00 and gave the stock a "buy" rating in a research note on Friday, May 9th. Citigroup boosted their target price on Dropbox from $30.00 to $32.00 and gave the stock a "neutral" rating in a research report on Friday, May 9th.

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.