Dropbox, Inc. (NASDAQ:DBX) Shares Bought by Envestnet Asset Management Inc.

Envestnet Asset Management Inc. lifted its position in shares of Dropbox, Inc. (NASDAQ:DBX - Free Report) by 31.9% during the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 39,526 shares of the company's stock after buying an additional 9,570 shares during the period. Envestnet Asset Management Inc.'s holdings in Dropbox were worth $1,187,000 as of its most recent SEC filing.

Other institutional investors also recently made changes to their positions in the company. Arrowstreet Capital Limited Partnership boosted its position in Dropbox by 38.1% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 5,224,864 shares of the company's stock worth $156,955,000 after purchasing an additional 1,440,887 shares during the period. Charles Schwab Investment Management Inc. lifted its stake in shares of Dropbox by 4.2% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,914,005 shares of the company's stock worth $87,537,000 after purchasing an additional 117,767 shares in the last quarter. Retirement Systems of Alabama boosted its position in shares of Dropbox by 15.2% in the third 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. Mitsubishi UFJ Trust & Banking Corp grew its stake in shares of Dropbox by 13.5% in the fourth quarter. Mitsubishi UFJ Trust & Banking Corp now owns 901,459 shares of the company's stock valued at $27,080,000 after buying an additional 107,460 shares in the last quarter. Finally, KLP Kapitalforvaltning AS purchased a new stake in shares of Dropbox during the 4th quarter valued at about $25,375,000. 94.84% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

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

Insider Transactions at Dropbox

In other 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 transaction, the insider now directly owns 309,550 shares in the company, valued at approximately $8,141,165. This trade represents a 1.20 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Timothy Regan sold 2,500 shares of the business's stock in a transaction dated Friday, February 7th. The shares were sold at an average price of $32.19, for a total transaction of $80,475.00. Following the sale, the chief financial officer now directly owns 396,264 shares of the company's stock, valued at approximately $12,755,738.16. This represents a 0.63 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 13,765 shares of company stock valued at $383,995. Insiders own 28.59% of the company's stock.

Dropbox Stock Performance

Shares of NASDAQ DBX traded down $0.15 during midday trading on Tuesday, reaching $28.83. 3,321,447 shares of the company's stock were exchanged, compared to its average volume of 3,631,238. The stock has a market capitalization of $8.70 billion, a PE ratio of 20.45, a price-to-earnings-growth ratio of 1.70 and a beta of 0.68. Dropbox, Inc. has a 52-week low of $20.68 and a 52-week high of $33.33. The business's fifty day moving average price is $26.87 and its two-hundred day moving average price is $28.47.

Dropbox (NASDAQ:DBX - Get Free Report) last announced its earnings results on Thursday, February 20th. The company reported $0.51 earnings per share (EPS) 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 analyst estimates of $638.61 million. Dropbox had a net margin of 17.75% and a negative return on equity of 132.63%. Analysts predict that Dropbox, Inc. will post 1.64 earnings per share for the current fiscal year.

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.