Banco Santander S.A. Purchases New Holdings in Dropbox, Inc. (NASDAQ:DBX)

Key Points

• Banco Santander S.A. has acquired 42,735 shares of Dropbox, Inc. (NASDAQ:DBX), valued at approximately $1.14 million, during the first quarter.
• Dropbox reported earnings of $0.70 EPS for the last quarter, surpassing analyst expectations of $0.62, despite a 1.0% decline in revenue year-over-year.
• The company's market capital is currently $7.45 billion, with a price-to-earnings ratio of 17.29 and a recent stock price opening at $26.46.

Banco Santander S.A. purchased a new stake in Dropbox, Inc. (NASDAQ:DBX - Free Report) in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 42,735 shares of the company's stock, valued at approximately $1,141,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. SG Americas Securities LLC acquired a new position in shares of Dropbox during the first quarter worth about $647,000. Rehmann Capital Advisory Group purchased a new stake in Dropbox in the 1st quarter worth approximately $675,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in Dropbox by 8.5% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,761,252 shares of the company's stock worth $52,908,000 after acquiring an additional 137,916 shares during the period. Envestnet Asset Management Inc. grew its stake in shares of Dropbox by 31.9% during the 4th quarter. Envestnet Asset Management Inc. now owns 39,526 shares of the company's stock valued at $1,187,000 after buying an additional 9,570 shares during the period. Finally, Paralel Advisors LLC grew its stake in shares of Dropbox by 10.0% during the 4th quarter. Paralel Advisors LLC now owns 103,320 shares of the company's stock valued at $3,104,000 after buying an additional 9,384 shares during the period. 94.84% of the stock is owned by hedge funds and other institutional investors.

Dropbox Trading Up 0.8%

DBX traded up $0.22 on Monday, hitting $26.68. 2,383,053 shares of the company's stock were exchanged, compared to its average volume of 3,180,951. The firm has a market cap of $7.51 billion, a PE ratio of 17.44, a P/E/G ratio of 10.41 and a beta of 0.64. Dropbox, Inc. has a twelve month low of $21.32 and a twelve month high of $33.33. The stock has a fifty day moving average of $28.09 and a two-hundred day moving average of $28.39.

Dropbox (NASDAQ:DBX - Get Free Report) last posted its earnings results on Thursday, May 8th. The company reported $0.70 EPS for the quarter, topping the consensus estimate of $0.62 by $0.08. Dropbox had a net margin of 18.50% and a negative return on equity of 79.66%. The firm had revenue of $624.70 million during the quarter, compared to analysts' expectations of $619.56 million. During the same quarter in the prior year, the firm earned $0.58 EPS. Dropbox's quarterly revenue was down 1.0% on a year-over-year basis. On average, analysts predict that Dropbox, Inc. will post 1.64 EPS for the current year.

Wall Street Analyst Weigh In

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

Insiders Place Their Bets

In other news, insider William T. Yoon sold 5,449 shares of the stock in a transaction that occurred on Friday, May 16th. The shares were sold at an average price of $28.94, for a total value of $157,694.06. Following the completion of the transaction, the insider directly owned 245,837 shares in the company, valued at $7,114,522.78. This trade represents a 2.17% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Timothy Regan sold 10,000 shares of the stock in a transaction that occurred on Tuesday, July 1st. The shares were sold at an average price of $27.94, for a total transaction of $279,400.00. Following the completion of the transaction, the chief financial officer owned 516,094 shares of the company's stock, valued at $14,419,666.36. This trade represents a 1.90% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 466,125 shares of company stock valued at $13,221,355. 28.59% of the stock is currently owned by 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.