Caxton Associates LP Takes Position in Dropbox, Inc. (NASDAQ:DBX)

Caxton Associates LP bought a new position in shares of Dropbox, Inc. (NASDAQ:DBX - Free Report) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 62,781 shares of the company's stock, valued at approximately $1,886,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Arrowstreet Capital Limited Partnership grew its holdings in Dropbox by 38.1% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 5,224,864 shares of the company's stock valued at $156,955,000 after buying an additional 1,440,887 shares in the last quarter. Caisse DE Depot ET Placement DU Quebec boosted its position in shares of 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 acquiring an additional 1,338,234 shares during the last quarter. LSV Asset Management grew 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 valued at $193,641,000 after acquiring an additional 1,245,563 shares in the last quarter. KLP Kapitalforvaltning AS purchased a new position in Dropbox during the fourth quarter valued at $25,375,000. Finally, Norges Bank bought a new stake in Dropbox in the 4th quarter valued at $20,482,000. Institutional investors own 94.84% of the company's stock.

Analyst Upgrades and Downgrades

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

Insiders Place Their Bets

In other Dropbox news, insider Eric Cox sold 3,765 shares of the firm's stock in a transaction dated Thursday, February 27th. The shares were 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 of the company's stock, valued at $8,141,165. This trade represents a 1.20 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Timothy Regan sold 2,500 shares of the company's stock in a transaction that occurred on Friday, March 28th. The shares were sold at an average price of $26.57, for a total value of $66,425.00. Following the transaction, the chief financial officer now directly owns 367,791 shares in the company, valued at approximately $9,772,206.87. This represents a 0.68 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 13,765 shares of company stock valued at $383,995 over the last three months. 28.59% of the stock is owned by company insiders.

Dropbox Stock Performance

NASDAQ DBX opened at $28.61 on Monday. The stock has a 50 day moving average price of $26.77 and a 200-day moving average price of $28.45. Dropbox, Inc. has a one year low of $20.68 and a one year high of $33.33. The company has a market capitalization 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.

Dropbox (NASDAQ:DBX - Get Free Report) last posted its earnings results on Thursday, February 20th. The company reported $0.51 earnings per share for the quarter, missing analysts' consensus estimates of $0.62 by ($0.11). The business had revenue of $643.60 million during 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%. As a group, equities analysts predict that Dropbox, Inc. will post 1.64 EPS for the current fiscal 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.

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