Alyeska Investment Group L.P. Makes New $16.02 Million Investment in Dropbox, Inc. (NASDAQ:DBX)

Alyeska Investment Group L.P. bought a new position in Dropbox, Inc. (NASDAQ:DBX - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 533,133 shares of the company's stock, valued at approximately $16,015,000. Alyeska Investment Group L.P. owned about 0.17% of Dropbox at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of DBX. CWA Asset Management Group LLC purchased a new position in shares of Dropbox in the fourth quarter worth about $3,205,000. Empowered Funds LLC lifted its position in Dropbox by 68.0% in the fourth quarter. Empowered Funds LLC now owns 36,140 shares of the company's stock valued at $1,086,000 after purchasing an additional 14,629 shares during the last quarter. Exchange Traded Concepts LLC boosted its stake in shares of Dropbox by 291.4% during the fourth quarter. Exchange Traded Concepts LLC now owns 124,991 shares of the company's stock valued at $3,755,000 after purchasing an additional 93,058 shares during the period. Blue Trust Inc. increased its stake in shares of Dropbox by 23.2% in the fourth quarter. Blue Trust Inc. now owns 3,616 shares of the company's stock worth $109,000 after buying an additional 682 shares during the period. Finally, Janney Montgomery Scott LLC bought a new stake in Dropbox during the 4th quarter valued at $656,000. Hedge funds and other institutional investors own 94.84% of the company's stock.

Insider Buying and Selling

In other news, CFO Timothy Regan sold 2,500 shares of the stock in a transaction on Tuesday, April 15th. The stock was sold at an average price of $26.94, for a total value of $67,350.00. Following the sale, the chief financial officer now directly owns 565,068 shares of the company's stock, valued at approximately $15,222,931.92. This represents a 0.44 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 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 completion of the transaction, 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 position. The disclosure for this sale can be found here. Insiders sold a total of 11,265 shares of company stock worth $303,520 in the last three months. 29.95% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

DBX has been the topic of a number of research analyst reports. Citigroup boosted their price target on Dropbox from $30.00 to $32.00 and gave the company a "neutral" rating in a report on Friday. UBS Group upped their price objective on shares of Dropbox from $30.00 to $31.00 and gave the stock a "buy" rating in a report on Friday.

Dropbox Stock Down 0.8 %

Shares of NASDAQ:DBX traded down $0.23 during trading on Friday, hitting $29.46. The stock had a trading volume of 5,041,176 shares, compared to its average volume of 3,606,821. The company has a market capitalization of $8.89 billion, a PE ratio of 20.89, a PEG ratio of 1.70 and a beta of 0.68. The firm's fifty day moving average is $27.08 and its 200 day moving average is $28.54. Dropbox, Inc. has a 12 month low of $20.68 and a 12 month high of $33.33.

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

Dropbox 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.