Bayesian Capital Management LP Invests $2.28 Million in Dropbox, Inc. (NASDAQ:DBX)

Bayesian Capital Management LP purchased a new position in shares of 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 (SEC). The firm purchased 76,000 shares of the company's stock, valued at approximately $2,283,000.

A number of other hedge funds have also bought and sold shares of the company. CWA Asset Management Group LLC acquired a new position in shares of Dropbox in the 4th quarter valued at about $3,205,000. Empowered Funds LLC increased its position in Dropbox by 68.0% in the fourth quarter. Empowered Funds LLC now owns 36,140 shares of the company's stock worth $1,086,000 after buying an additional 14,629 shares during the period. Exchange Traded Concepts LLC increased its holdings in shares of Dropbox by 291.4% in the 4th quarter. Exchange Traded Concepts LLC now owns 124,991 shares of the company's stock worth $3,755,000 after acquiring an additional 93,058 shares during the period. Blue Trust Inc. boosted its position in shares of Dropbox by 23.2% during 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 acquired a new stake in Dropbox in the 4th quarter valued at approximately $656,000. 94.84% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, insider Eric Cox sold 3,765 shares of the business's stock in a transaction on Thursday, February 27th. The shares were sold at an average price of $26.30, for a total transaction of $99,019.50. Following the transaction, the insider now directly owns 309,550 shares in the company, valued at $8,141,165. The trade was a 1.20 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Timothy Regan sold 2,500 shares of the stock in a transaction on Wednesday, April 30th. The stock was sold at an average price of $28.29, for a total value of $70,725.00. Following the sale, the chief financial officer now owns 562,568 shares of the company's stock, valued at approximately $15,915,048.72. This represents a 0.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 11,265 shares of company stock worth $303,520 over the last quarter. Corporate insiders own 29.95% of the company's stock.

Dropbox Stock Down 0.3 %

Dropbox stock traded down $0.10 during mid-day trading on Friday, hitting $29.59. The company's stock had a trading volume of 2,899,260 shares, compared to its average volume of 3,630,186. The stock has a market capitalization of $8.93 billion, a P/E ratio of 20.99, a P/E/G ratio of 1.70 and a beta of 0.68. Dropbox, Inc. has a twelve month low of $20.68 and a twelve month high of $33.33. The stock's fifty day moving average price is $27.02 and its two-hundred day moving average price is $28.50.

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

Analysts Set New Price Targets

Separately, Citigroup boosted their price target on Dropbox from $30.00 to $32.00 and gave the stock a "neutral" rating in a research report on Friday.

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.