AQR Capital Management LLC Grows Position in Dropbox, Inc. (NASDAQ:DBX)

AQR Capital Management LLC lifted its position in shares of Dropbox, Inc. (NASDAQ:DBX - Free Report) by 3.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 3,332,516 shares of the company's stock after acquiring an additional 97,551 shares during the period. AQR Capital Management LLC owned approximately 1.08% of Dropbox worth $99,842,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also made changes to their positions in the company. EverSource Wealth Advisors LLC boosted 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 purchasing an additional 424 shares in the last quarter. Avion Wealth boosted its position 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 buying an additional 984 shares in the last quarter. SBI Securities Co. Ltd. acquired a new position in shares of Dropbox during the fourth quarter worth $40,000. Allworth Financial LP lifted its stake in shares of Dropbox by 33.5% in the 4th quarter. Allworth Financial LP now owns 1,456 shares of the company's stock valued at $45,000 after acquiring an additional 365 shares during the last quarter. Finally, Huntington National Bank boosted its holdings in shares of Dropbox by 768.9% during the 4th quarter. Huntington National Bank now owns 1,538 shares of the company's stock valued at $46,000 after acquiring an additional 1,361 shares in the last quarter. Institutional investors and hedge funds own 94.84% of the company's stock.

Insider Buying and Selling

In other Dropbox news, insider Eric Cox sold 3,765 shares of Dropbox 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 directly owns 309,550 shares of the company's stock, valued at $8,141,165. The trade was a 1.20 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Timothy Regan sold 2,500 shares of the stock in a transaction dated Friday, March 28th. The shares were sold at an average price of $26.57, for a total transaction of $66,425.00. Following the completion of the sale, 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 position. The disclosure for this sale can be found here. Insiders sold 13,765 shares of company stock valued at $383,995 over the last quarter. Insiders own 28.59% of the company's stock.

Analyst Ratings Changes

Separately, Jefferies Financial Group increased their target price on Dropbox from $27.00 to $30.00 and gave the company a "hold" rating in a research report on Monday, January 6th.

Dropbox Price Performance

Shares of Dropbox stock traded up $0.44 during trading on Monday, hitting $29.05. The company's stock had a trading volume of 1,486,025 shares, compared to its average volume of 3,624,413. The stock has a market cap of $8.76 billion, a price-to-earnings ratio of 20.61, 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 stock has a 50-day moving average price of $26.77 and a two-hundred day moving average price of $28.45.

Dropbox (NASDAQ:DBX - Get Free Report) last posted its quarterly earnings data on Thursday, February 20th. The company reported $0.51 EPS for the quarter, missing analysts' consensus estimates of $0.62 by ($0.11). The company had revenue of $643.60 million during the quarter, compared to analyst estimates of $638.61 million. Dropbox had a negative return on equity of 132.63% and a net margin of 17.75%. On average, equities analysts predict that Dropbox, Inc. will post 1.64 EPS 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.