BI Asset Management Fondsmaeglerselskab A S Has $4.20 Million Position in 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 holdings in Dropbox, Inc. (NASDAQ:DBX - Free Report) by 282.3% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 157,389 shares of the company's stock after buying an additional 116,222 shares during the quarter. BI Asset Management Fondsmaeglerselskab A S owned 0.05% of Dropbox worth $4,204,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Elequin Capital LP boosted its position in shares of Dropbox by 71.0% during the 1st quarter. Elequin Capital LP now owns 1,130 shares of the company's stock valued at $30,000 after acquiring an additional 469 shares in the last quarter. True Wealth Design LLC lifted its stake in Dropbox by 191.0% during the fourth quarter. True Wealth Design LLC now owns 1,036 shares of the company's stock worth $31,000 after purchasing an additional 680 shares during the period. Brooklyn Investment Group lifted its stake in Dropbox by 250.3% during the first quarter. Brooklyn Investment Group now owns 1,387 shares of the company's stock worth $37,000 after purchasing an additional 991 shares during the period. SBI Securities Co. Ltd. boosted its holdings in Dropbox by 33.4% during the first quarter. SBI Securities Co. Ltd. now owns 1,794 shares of the company's stock valued at $48,000 after purchasing an additional 449 shares in the last quarter. Finally, Fifth Third Bancorp grew its stake in shares of Dropbox by 27.3% in the 1st quarter. Fifth Third Bancorp now owns 2,288 shares of the company's stock valued at $61,000 after purchasing an additional 490 shares during the period. 94.84% of the stock is owned by institutional investors.

Dropbox Price Performance

Shares of DBX opened at $28.42 on Thursday. The company has a market capitalization of $7.67 billion, a P/E ratio of 17.33, a PEG ratio of 3.81 and a beta of 0.64. Dropbox, Inc. has a one year low of $22.72 and a one year high of $33.33. The business's 50 day simple moving average is $27.66 and its 200-day simple moving average is $28.05.

Dropbox (NASDAQ:DBX - Get Free Report) last issued its quarterly earnings data on Thursday, August 7th. The company reported $0.71 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.63 by $0.08. The firm had revenue of $625.70 million during the quarter, compared to the consensus estimate 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 for the quarter was down 1.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.60 EPS. On average, sell-side analysts anticipate that Dropbox, Inc. will post 1.64 EPS for the current fiscal year.

Insider Buying and Selling at Dropbox

In other Dropbox news, CTO Ali Dasdan sold 7,146 shares of the business's stock in a transaction dated Thursday, August 14th. The shares were sold at an average price of $27.82, for a total value of $198,801.72. Following the completion of the transaction, the chief technology officer directly owned 588,793 shares of the company's stock, valued at approximately $16,380,221.26. The trade was a 1.20% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Timothy Regan sold 10,000 shares of the company's stock in a transaction that occurred on Tuesday, July 1st. The stock was sold at an average price of $27.94, for a total transaction of $279,400.00. Following the transaction, the chief financial officer owned 516,094 shares in the company, valued at $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 have sold 568,008 shares of company stock worth $16,029,923 over the last quarter. Corporate insiders own 29.95% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on DBX shares. Citigroup raised their target price on Dropbox from $30.00 to $32.00 and gave the stock a "neutral" rating in a research report on Friday, May 9th. UBS Group cut their price objective on 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 data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price 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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