BI Asset Management Fondsmaeglerselskab A S Acquires 116,222 Shares of Dropbox, Inc. $DBX

Key Points

• BI Asset Management Fondsmaeglerselskab A S increased its position in Dropbox by 282.3%, owning 157,389 shares worth approximately $4.20 million as of its latest SEC filing.
• Dropbox's recent quarterly earnings report showed $0.71 earnings per share, exceeding expectations and reflecting a revenue of $625.70 million, although it was down 1.4% from the previous year.
• Major institutional investors now own 94.84% of Dropbox's stock, indicating strong interest from larger investment firms.

BI Asset Management Fondsmaeglerselskab A S raised its position in shares of Dropbox, Inc. (NASDAQ:DBX - Free Report) by 282.3% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 157,389 shares of the company's stock after purchasing an additional 116,222 shares during the quarter. BI Asset Management Fondsmaeglerselskab A S owned 0.05% of Dropbox worth $4,204,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Parallel Advisors LLC increased its stake in shares of Dropbox by 5.6% in the first quarter. Parallel Advisors LLC now owns 7,411 shares of the company's stock worth $198,000 after acquiring an additional 395 shares during the last quarter. Banco Bilbao Vizcaya Argentaria S.A. boosted its holdings in Dropbox by 5.1% in the fourth quarter. Banco Bilbao Vizcaya Argentaria S.A. now owns 8,419 shares of the company's stock worth $256,000 after purchasing an additional 407 shares in the last quarter. SBI Securities Co. Ltd. boosted its holdings in Dropbox by 33.4% in the first quarter. SBI Securities Co. Ltd. now owns 1,794 shares of the company's stock worth $48,000 after purchasing an additional 449 shares in the last quarter. Elequin Capital LP boosted its holdings in Dropbox by 71.0% during the first quarter. Elequin Capital LP now owns 1,130 shares of the company's stock valued at $30,000 after acquiring an additional 469 shares during the period. Finally, Fifth Third Bancorp boosted its holdings in Dropbox by 27.3% during the first quarter. Fifth Third Bancorp now owns 2,288 shares of the company's stock valued at $61,000 after acquiring an additional 490 shares during the period. 94.84% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Dropbox

In other news, CEO Andrew Houston sold 92,000 shares of the stock in a transaction that occurred on Thursday, August 14th. The shares were sold at an average price of $27.83, for a total transaction of $2,560,360.00. Following the sale, the chief executive officer directly owned 8,266,666 shares of the company's stock, valued at $230,061,314.78. This represents a 1.10% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Abhay Parasnis sold 3,564 shares of the stock in a transaction that occurred on Wednesday, August 20th. The shares were sold at an average price of $28.26, for a total transaction of $100,718.64. Following the sale, the director directly owned 40,522 shares in the company, valued at $1,145,151.72. This trade represents a 8.08% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 564,572 shares of company stock valued at $15,930,931 over the last three months. Insiders own 28.59% of the company's stock.

Analysts Set New Price Targets

A number of research firms have issued reports on DBX. Citigroup upped their price target on shares of Dropbox from $30.00 to $32.00 and gave the company a "neutral" rating in a report on Friday, May 9th. UBS Group decreased their price target on shares of Dropbox from $31.00 to $29.00 and set a "neutral" rating for the company in a report on Friday, August 8th. Three investment analysts have rated the stock with a Hold rating, According to MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $30.33.

Dropbox Trading Down 0.4%

NASDAQ:DBX traded down $0.13 during mid-day trading on Tuesday, hitting $28.37. The company's stock had a trading volume of 713,265 shares, compared to its average volume of 3,740,808. Dropbox, Inc. has a fifty-two week low of $22.72 and a fifty-two week high of $33.33. The company has a market capitalization of $7.65 billion, a price-to-earnings ratio of 17.27, a P/E/G ratio of 3.81 and a beta of 0.64. The stock has a fifty day moving average of $27.68 and a 200-day moving average of $27.91.

Dropbox (NASDAQ:DBX - Get Free Report) last posted its quarterly earnings results on Thursday, August 7th. The company reported $0.71 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.63 by $0.08. The firm had revenue of $625.70 million during the quarter, compared to analyst estimates of $618.60 million. Dropbox had a net margin of 19.17% and a negative return on equity of 61.31%. The company's quarterly 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 earnings per share. On average, equities analysts anticipate 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.