Dropbox, Inc. (NASDAQ:DBX) Shares Bought by Caisse DE Depot ET Placement DU Quebec

Caisse DE Depot ET Placement DU Quebec raised its stake in Dropbox, Inc. (NASDAQ:DBX - Free Report) by 291.2% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,797,823 shares of the company's stock after purchasing an additional 1,338,234 shares during the quarter. Caisse DE Depot ET Placement DU Quebec owned approximately 0.58% of Dropbox worth $54,007,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of DBX. American Trust bought a new stake in Dropbox in the 3rd quarter valued at about $271,000. Retirement Systems of Alabama lifted its holdings in Dropbox by 15.2% in the 3rd quarter. Retirement Systems of Alabama now owns 944,033 shares of the company's stock worth $24,007,000 after buying an additional 124,528 shares during the period. DGS Capital Management LLC grew its stake in Dropbox by 22.5% in the third quarter. DGS Capital Management LLC now owns 13,767 shares of the company's stock worth $350,000 after purchasing an additional 2,532 shares during the period. GAMMA Investing LLC raised its stake in Dropbox by 122.9% during the fourth quarter. GAMMA Investing LLC now owns 6,436 shares of the company's stock valued at $193,000 after buying an additional 3,548 shares during the last quarter. Finally, CWA Asset Management Group LLC bought a new position in Dropbox in the 4th quarter valued at approximately $3,205,000. 94.84% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

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

Dropbox Price Performance

Shares of DBX traded down $0.23 during mid-day trading on Friday, reaching $28.61. 4,139,767 shares of the company's stock traded hands, compared to its average volume of 3,632,574. Dropbox, Inc. has a 12 month low of $20.68 and a 12 month high of $33.33. The stock has a market cap of $8.63 billion, a P/E ratio of 20.29, a P/E/G ratio of 1.70 and a beta of 0.68. The stock's 50-day moving average is $26.77 and its two-hundred day moving average is $28.44.

Dropbox (NASDAQ:DBX - Get Free Report) last released its earnings results on Thursday, February 20th. The company reported $0.51 earnings per share for the quarter, missing the consensus estimate of $0.62 by ($0.11). The business had revenue of $643.60 million for the quarter, compared to the consensus estimate of $638.61 million. Dropbox had a negative return on equity of 132.63% and a net margin of 17.75%. Research analysts predict that Dropbox, Inc. will post 1.64 earnings per share for the current year.

Insider Buying and Selling

In other Dropbox news, CFO Timothy Regan sold 2,500 shares of Dropbox stock in a transaction on Friday, February 7th. The shares were sold at an average price of $32.19, for a total value of $80,475.00. Following the transaction, the chief financial officer now directly owns 396,264 shares of the company's stock, valued at approximately $12,755,738.16. The trade was a 0.63 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Eric Cox sold 3,765 shares of the stock in a transaction on Thursday, February 27th. The shares were sold at an average price of $26.30, for a total value of $99,019.50. Following the sale, 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 position. The disclosure for this sale can be found here. Insiders have sold a total of 13,765 shares of company stock valued at $383,995 over the last quarter. 28.59% of the stock is owned by corporate insiders.

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.