Dropbox, Inc. (NASDAQ:DBX) Shares Purchased by Axa S.A.

AXA S.A. boosted its holdings in shares of Dropbox, Inc. (NASDAQ:DBX - Free Report) by 28.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 600,154 shares of the company's stock after buying an additional 132,853 shares during the period. AXA S.A. owned approximately 0.19% of Dropbox worth $18,029,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. CWA Asset Management Group LLC acquired a new position in shares of Dropbox in the 4th quarter valued at $3,205,000. Empowered Funds LLC increased its holdings in shares of Dropbox by 68.0% in the fourth quarter. Empowered Funds LLC now owns 36,140 shares of the company's stock valued at $1,086,000 after purchasing an additional 14,629 shares during the period. Exchange Traded Concepts LLC increased its holdings in shares of Dropbox by 291.4% in the fourth quarter. Exchange Traded Concepts LLC now owns 124,991 shares of the company's stock valued at $3,755,000 after purchasing an additional 93,058 shares during the period. Blue Trust Inc. raised its stake in shares of Dropbox by 23.2% in the fourth quarter. Blue Trust Inc. now owns 3,616 shares of the company's stock worth $109,000 after purchasing an additional 682 shares during the last quarter. Finally, Janney Montgomery Scott LLC acquired a new stake in shares of Dropbox during the fourth quarter worth about $656,000. 94.84% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the stock. UBS Group raised their price target on shares of Dropbox from $30.00 to $31.00 and gave the stock a "buy" rating in a research report on Friday. Citigroup raised their target price on shares of Dropbox from $30.00 to $32.00 and gave the stock a "neutral" rating in a report on Friday.

Insider Activity

In other Dropbox news, CFO Timothy Regan sold 2,500 shares of the stock in a transaction that occurred 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 transaction, the chief financial officer now owns 562,568 shares in the company, valued at approximately $15,915,048.72. This represents a 0.44 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Eric Cox sold 3,765 shares of the business's stock in a transaction that occurred 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 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 disclosure for this sale can be found here. Insiders have sold 11,265 shares of company stock worth $303,520 in the last ninety days. Company insiders own 29.95% of the company's stock.

Dropbox Price Performance

DBX stock traded down $0.23 during trading on Friday, hitting $29.46. 5,041,176 shares of the company traded hands, compared to its average volume of 3,623,101. Dropbox, Inc. has a 1 year low of $20.68 and a 1 year high of $33.33. The stock's 50-day simple moving average is $27.08 and its 200 day simple moving average is $28.52. The company has a market cap of $8.89 billion, a PE ratio of 20.89, 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, May 8th. The company reported $0.70 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.62 by $0.08. The firm had revenue of $624.70 million during the quarter, compared to analysts' expectations of $619.56 million. Dropbox had a net margin of 17.75% and a negative return on equity of 132.63%. The business's revenue was down 1.0% compared to the same quarter last year. During the same period in the previous year, the business posted $0.58 EPS. Research analysts expect that Dropbox, Inc. will post 1.64 earnings per share for the current year.

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.