Bokf Na Makes New Investment in Dropbox, Inc. (NASDAQ:DBX)

BOKF NA acquired a new stake in shares of Dropbox, Inc. (NASDAQ:DBX - Free Report) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 18,706 shares of the company's stock, valued at approximately $550,000.

Other institutional investors have also modified their holdings of the company. Arrowstreet Capital Limited Partnership boosted its holdings in shares of Dropbox by 38.1% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 5,224,864 shares of the company's stock worth $156,955,000 after purchasing an additional 1,440,887 shares during the last quarter. Caisse DE Depot ET Placement DU Quebec lifted its position in Dropbox by 291.2% during the fourth quarter. Caisse DE Depot ET Placement DU Quebec now owns 1,797,823 shares of the company's stock worth $54,007,000 after buying an additional 1,338,234 shares in the last quarter. LSV Asset Management boosted its stake in Dropbox by 24.0% during the fourth quarter. LSV Asset Management now owns 6,446,121 shares of the company's stock worth $193,641,000 after buying an additional 1,245,563 shares during the last quarter. KLP Kapitalforvaltning AS purchased a new stake in Dropbox in the 4th quarter valued at $25,375,000. Finally, Norges Bank purchased a new stake in Dropbox in the 4th quarter valued at $20,482,000. Institutional investors and hedge funds own 94.84% of the company's stock.

Insider Activity at Dropbox

In other Dropbox news, CFO Timothy Regan sold 2,500 shares of the business's stock in a transaction that occurred on Friday, March 28th. The stock was sold at an average price of $26.57, for a total value of $66,425.00. Following the sale, the chief financial officer now owns 367,791 shares of the company's stock, valued at $9,772,206.87. The trade was a 0.68% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Eric Cox sold 3,765 shares of the firm's stock in a transaction on Thursday, February 27th. The stock was sold at an average price of $26.30, for a total value of $99,019.50. Following the transaction, the insider now owns 309,550 shares of the company's stock, valued at approximately $8,141,165. This represents a 1.20% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 11,265 shares of company stock worth $303,520. Company insiders own 29.95% of the company's stock.

Wall Street Analysts Forecast Growth

DBX has been the topic of several analyst reports. Citigroup lifted their price target on Dropbox from $30.00 to $32.00 and gave the stock a "neutral" rating in a report on Friday, May 9th. UBS Group lifted their target price on shares of Dropbox from $30.00 to $31.00 and gave the stock a "buy" rating in a research note on Friday, May 9th.

Dropbox Price Performance

DBX traded down $0.09 during trading hours on Wednesday, reaching $29.61. The company's stock had a trading volume of 3,326,189 shares, compared to its average volume of 3,601,991. The business's 50-day moving average is $27.22 and its 200-day moving average is $28.59. The stock has a market cap of $8.93 billion, a PE ratio of 21.00, a P/E/G ratio of 1.70 and a beta of 0.68. Dropbox, Inc. has a fifty-two week low of $20.68 and a fifty-two week high of $33.33.

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

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.