Banco Bilbao Vizcaya Argentaria S.A. Buys 10,619 Shares of Dropbox, Inc. $DBX

Key Points

• Banco Bilbao Vizcaya Argentaria S.A. significantly increased its stake in Dropbox, Inc. by 126.1%, acquiring an additional 10,619 shares, bringing its total holdings to 19,038 shares valued at approximately $509,000.
• Insider transactions included Director Karen Peacock and CFO Timothy Regan each selling shares, with Peacock decreasing her holdings by 21.68% and Regan by 1.90% after their respective sales on May 27 and July 1.
• Dropbox recently reported an earnings per share (EPS) of $0.71 for the quarter, exceeding analysts' estimates, while the stock is currently rated as a "Hold" with an average price target of $30.33.

Banco Bilbao Vizcaya Argentaria S.A. lifted its stake in shares of Dropbox, Inc. (NASDAQ:DBX - Free Report) by 126.1% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 19,038 shares of the company's stock after acquiring an additional 10,619 shares during the period. Banco Bilbao Vizcaya Argentaria S.A.'s holdings in Dropbox were worth $509,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in DBX. SG Americas Securities LLC bought a new position in Dropbox during the 1st quarter worth about $647,000. Rehmann Capital Advisory Group acquired a new position in shares of Dropbox during the first quarter worth about $675,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in shares of Dropbox by 8.5% during the fourth 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 buying an additional 137,916 shares in the last quarter. Envestnet Asset Management Inc. raised its position in Dropbox by 31.9% in 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 last quarter. Finally, Commerce Bank raised its position in Dropbox by 94.9% in the 1st quarter. Commerce Bank now owns 203,052 shares of the company's stock valued at $5,424,000 after buying an additional 98,867 shares during the last quarter. 94.84% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Dropbox

In other Dropbox news, Director Karen Peacock sold 7,000 shares of the company's stock in a transaction that occurred on Tuesday, May 27th. The stock was sold at an average price of $28.53, for a total value of $199,710.00. Following the sale, the director owned 25,295 shares in the company, valued at $721,666.35. This represents a 21.68% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Timothy Regan sold 10,000 shares of the firm's stock in a transaction that occurred on Tuesday, July 1st. The shares were sold at an average price of $27.94, for a total value of $279,400.00. Following the completion of the sale, the chief financial officer directly owned 516,094 shares of the company's stock, valued at approximately $14,419,666.36. The trade was a 1.90% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 571,572 shares of company stock worth $16,130,641 over the last ninety days. Company insiders own 29.95% of the company's stock.

Dropbox Stock Up 1.8%

DBX stock opened at $28.82 on Friday. The company has a market cap of $7.78 billion, a price-to-earnings ratio of 17.57, a P/E/G ratio of 3.81 and a beta of 0.64. Dropbox, Inc. has a twelve month low of $22.72 and a twelve month high of $33.33. The business has a 50 day moving average price of $27.68 and a two-hundred day moving average price of $27.96.

Dropbox (NASDAQ:DBX - Get Free Report) last announced its quarterly earnings data on Thursday, August 7th. The company reported $0.71 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.63 by $0.08. The company had revenue of $625.70 million for the quarter, compared to analysts' expectations of $618.60 million. Dropbox had a negative return on equity of 61.31% and a net margin of 19.17%.The business's revenue was down 1.4% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.60 EPS. On average, equities research analysts anticipate that Dropbox, Inc. will post 1.64 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the company. UBS Group reduced their price target on Dropbox from $31.00 to $29.00 and set a "neutral" rating for the company in a research report on Friday, August 8th. Citigroup boosted their price objective on shares of Dropbox from $30.00 to $32.00 and gave the stock a "neutral" rating in a research report on Friday, May 9th. Three investment analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, Dropbox presently has an average rating of "Hold" and a consensus price target of $30.33.

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.

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