10,420 Shares in Dropbox, Inc. (NASDAQ:DBX) Bought by Diametric Capital LP

Diametric Capital LP acquired a new stake in Dropbox, Inc. (NASDAQ:DBX - Free Report) during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor acquired 10,420 shares of the company's stock, valued at approximately $313,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. EverSource Wealth Advisors LLC grew its stake in shares of Dropbox by 96.1% in the 4th quarter. EverSource Wealth Advisors LLC now owns 865 shares of the company's stock valued at $26,000 after buying an additional 424 shares in the last quarter. Avion Wealth lifted its stake in Dropbox by 4,472.7% in the fourth quarter. Avion Wealth now owns 1,006 shares of the company's stock valued at $30,000 after acquiring an additional 984 shares during the last quarter. SBI Securities Co. Ltd. bought a new stake in Dropbox in the fourth quarter worth approximately $40,000. Allworth Financial LP increased its stake in shares of Dropbox by 33.5% during the 4th quarter. Allworth Financial LP now owns 1,456 shares of the company's stock worth $45,000 after purchasing an additional 365 shares during the last quarter. Finally, V Square Quantitative Management LLC raised its holdings in shares of Dropbox by 39.0% during the 4th quarter. V Square Quantitative Management LLC now owns 1,717 shares of the company's stock valued at $52,000 after purchasing an additional 482 shares in the last quarter. Hedge funds and other institutional investors own 94.84% of the company's stock.

Dropbox Price Performance

DBX traded down $1.38 on Friday, hitting $25.45. The company had a trading volume of 5,351,199 shares, compared to its average volume of 3,572,076. The stock has a market cap of $7.68 billion, a price-to-earnings ratio of 18.05, a price-to-earnings-growth ratio of 1.70 and a beta of 0.75. The company's fifty day moving average price is $28.59 and its 200 day moving average price is $28.14. Dropbox, Inc. has a 1-year low of $20.68 and a 1-year high of $33.33.

Dropbox (NASDAQ:DBX - Get Free Report) last issued its quarterly earnings data 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). Dropbox had a negative return on equity of 132.63% and a net margin of 17.75%. The firm had revenue of $643.60 million during the quarter, compared to analyst estimates of $638.61 million. On average, sell-side analysts forecast that Dropbox, Inc. will post 1.64 EPS for the current year.

Insider Buying and Selling at Dropbox

In related news, insider Eric Cox sold 3,765 shares of the business's stock in a transaction on Thursday, February 27th. The shares were sold at an average price of $26.30, for a total transaction 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. The trade was a 1.20 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Timothy Regan sold 2,500 shares of the stock in a transaction on Wednesday, January 15th. The shares were sold at an average price of $30.37, for a total transaction of $75,925.00. Following the completion of the sale, the chief financial officer now directly owns 401,264 shares of the company's stock, valued at approximately $12,186,387.68. This trade represents a 0.62 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 124,181 shares of company stock worth $3,794,928 over the last ninety days. Company insiders own 28.59% of the company's stock.

Analyst Upgrades and Downgrades

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

Dropbox 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.