D. E. Shaw & Co. Inc. Buys New Position in Dropbox, Inc. (NASDAQ:DBX)

D. E. Shaw & Co. Inc. bought a new position in shares of Dropbox, Inc. (NASDAQ:DBX - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 305,883 shares of the company's stock, valued at approximately $9,189,000. D. E. Shaw & Co. Inc. owned about 0.10% of Dropbox as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently made changes to their positions in DBX. Bessemer Group Inc. lifted its position in shares of Dropbox by 0.3% in the 4th quarter. Bessemer Group Inc. now owns 126,321 shares of the company's stock worth $3,794,000 after purchasing an additional 333 shares during the period. Allworth Financial LP grew its holdings in shares of Dropbox by 33.5% during the fourth quarter. Allworth Financial LP now owns 1,456 shares of the company's stock valued at $45,000 after buying an additional 365 shares during the last quarter. Heron Bay Capital Management raised its stake in shares of Dropbox by 2.3% in the fourth quarter. Heron Bay Capital Management now owns 16,769 shares of the company's stock worth $504,000 after purchasing an additional 378 shares during the last quarter. Banco Bilbao Vizcaya Argentaria S.A. lifted its stake in Dropbox by 5.1% during the 4th quarter. Banco Bilbao Vizcaya Argentaria S.A. now owns 8,419 shares of the company's stock valued at $256,000 after acquiring an additional 407 shares in the last quarter. Finally, EverSource Wealth Advisors LLC lifted its position in shares of Dropbox by 96.1% during the 4th quarter. EverSource Wealth Advisors LLC now owns 865 shares of the company's stock worth $26,000 after buying an additional 424 shares in the last quarter. Institutional investors own 94.84% of the company's stock.

Wall Street Analysts Forecast Growth

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

Dropbox Stock Down 0.1%

DBX traded down $0.03 on Tuesday, hitting $28.67. The company's stock had a trading volume of 388,340 shares, compared to its average volume of 3,953,247. Dropbox, Inc. has a 12 month low of $20.68 and a 12 month high of $33.33. The firm has a market cap of $8.07 billion, a P/E ratio of 20.34, a price-to-earnings-growth ratio of 1.70 and a beta of 0.68. The company's 50 day simple moving average is $27.50 and its 200-day simple moving average is $28.70.

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

Insiders Place Their Bets

In other news, CFO Timothy Regan sold 2,500 shares of the company's stock in a transaction 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 owns 367,791 shares of the company's stock, valued at approximately $9,772,206.87. This represents a 0.68% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, 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 stock was 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 in the company, valued at $8,141,165. This trade represents a 1.20% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 26,792 shares of company stock worth $754,346 in the last quarter. 29.95% of the stock is owned by company insiders.

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.