D. E. Shaw & Co. Inc. Makes New $9.19 Million Investment in Dropbox, Inc. (NASDAQ:DBX)

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

Other hedge funds have also made changes to their positions in the company. Arrowstreet Capital Limited Partnership raised its position in Dropbox by 38.1% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 5,224,864 shares of the company's stock valued at $156,955,000 after acquiring an additional 1,440,887 shares in the last quarter. Caisse DE Depot ET Placement DU Quebec raised 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 valued at $54,007,000 after acquiring an additional 1,338,234 shares in the last quarter. LSV Asset Management raised its position 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 bought a new position in Dropbox during the fourth quarter valued at approximately $25,375,000. Finally, Norges Bank bought a new position in Dropbox during the fourth quarter valued at approximately $20,482,000. 94.84% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities analysts recently weighed in on DBX shares. Citigroup raised their price objective on shares of Dropbox from $30.00 to $32.00 and gave the company a "neutral" rating in a research report on Friday, May 9th. UBS Group raised their price objective on shares of Dropbox from $30.00 to $31.00 and gave the company a "buy" rating in a research report on Friday, May 9th.

Dropbox Stock Down 1.9%

Shares of NASDAQ:DBX traded down $0.55 during trading on Friday, reaching $28.91. The stock had a trading volume of 6,112,663 shares, compared to its average volume of 3,611,552. Dropbox, Inc. has a 52 week low of $20.68 and a 52 week high of $33.33. The firm has a market capitalization of $8.14 billion, a price-to-earnings ratio of 20.50, a P/E/G ratio of 1.70 and a beta of 0.68. The stock has a fifty day simple moving average of $27.43 and a two-hundred day simple moving average of $28.66.

Dropbox (NASDAQ:DBX - Get Free Report) last released its quarterly earnings results 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 for the quarter, compared to analyst estimates of $619.56 million. During the same quarter last year, the firm posted $0.58 earnings per share. The company's quarterly revenue was down 1.0% compared to the same quarter last year. On average, analysts forecast that Dropbox, Inc. will post 1.64 EPS for the current year.

Insider Activity

In other news, insider Eric Cox sold 3,765 shares of the firm's 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 in the company, valued at approximately $8,141,165. This trade represents a 1.20% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Timothy Regan sold 2,500 shares of the firm's stock in a transaction on Wednesday, April 30th. The stock was sold at an average price of $28.29, for a total transaction of $70,725.00. Following the completion of the sale, the chief financial officer now owns 562,568 shares in the company, valued at approximately $15,915,048.72. The trade was a 0.44% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 11,265 shares of company stock valued at $303,520 over the last 90 days. 29.95% of the stock is currently 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.