Dropbox, Inc. $DBX Shares Bought by Caisse DE Depot ET Placement DU Quebec

Key Points

• Caisse DE Depot ET Placement DU Quebec increased its ownership of Dropbox, Inc. by 38.1% during the first quarter, acquiring an additional 684,882 shares, bringing its total to 2,482,705 shares valued at approximately $66.3 million.
• Dropbox reported earnings of $0.71 per share for the latest quarter, exceeding analyst expectations of $0.63, despite a year-over-year revenue decline of 1.4%.
• Recent insider trading activity included CFO Timothy Regan selling 10,000 shares, reducing his ownership by 1.90%, while CEO Andrew Houston sold 319,000 shares, marking a 3.72% decrease in his stake.

Caisse DE Depot ET Placement DU Quebec increased its position in shares of Dropbox, Inc. (NASDAQ:DBX - Free Report) by 38.1% in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 2,482,705 shares of the company's stock after purchasing an additional 684,882 shares during the quarter. Caisse DE Depot ET Placement DU Quebec owned approximately 0.82% of Dropbox worth $66,313,000 as of its most recent filing with the SEC.

Other large investors have also recently made changes to their positions in the company. True Wealth Design LLC increased its position in shares of 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 in the last quarter. Elequin Capital LP boosted its stake in Dropbox by 71.0% during the first quarter. Elequin Capital LP now owns 1,130 shares of the company's stock worth $30,000 after buying an additional 469 shares during the last quarter. Brooklyn Investment Group boosted 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 buying an additional 991 shares during the last quarter. SBI Securities Co. Ltd. boosted its stake in Dropbox by 33.4% during the first quarter. SBI Securities Co. Ltd. now owns 1,794 shares of the company's stock worth $48,000 after buying an additional 449 shares during the last quarter. Finally, Fifth Third Bancorp boosted its stake in Dropbox by 27.3% during the first quarter. Fifth Third Bancorp now owns 2,288 shares of the company's stock worth $61,000 after buying an additional 490 shares during the last quarter. 94.84% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, CFO Timothy Regan sold 10,000 shares of the stock in a transaction dated 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 of the company's stock, valued at approximately $14,419,666.36. This represents a 1.90% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Andrew Houston sold 319,000 shares of the stock in a transaction dated Wednesday, June 11th. The stock was sold at an average price of $28.48, for a total value of $9,085,120.00. Following the transaction, the chief executive officer directly owned 8,266,666 shares in the company, valued at approximately $235,434,647.68. The trade was a 3.72% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 564,572 shares of company stock worth $15,930,931 in the last quarter. Insiders own 29.95% of the company's stock.

Dropbox Trading Up 0.3%

Dropbox stock traded up $0.10 during trading on Thursday, hitting $28.92. The company had a trading volume of 3,124,663 shares, compared to its average volume of 3,622,523. Dropbox, Inc. has a 1-year low of $22.72 and a 1-year high of $33.33. The company's 50 day simple moving average is $27.68 and its 200-day simple moving average is $27.90. The stock has a market cap of $7.80 billion, a price-to-earnings ratio of 17.63, a price-to-earnings-growth ratio of 3.81 and a beta of 0.64.

Dropbox (NASDAQ:DBX - Get Free Report) last posted its earnings results on Thursday, August 7th. The company reported $0.71 earnings per share for the quarter, beating the consensus estimate of $0.63 by $0.08. Dropbox had a net margin of 19.17% and a negative return on equity of 61.31%. The firm had revenue of $625.70 million during the quarter, compared to the consensus estimate of $618.60 million. During the same quarter last year, the firm earned $0.60 EPS. The firm's revenue for the quarter was down 1.4% on a year-over-year basis. As a group, analysts forecast that Dropbox, Inc. will post 1.64 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

DBX has been the topic of a number of recent research reports. UBS Group lowered their price objective on Dropbox from $31.00 to $29.00 and set a "neutral" rating on the stock in a research note on Friday, August 8th. Citigroup boosted their price objective on Dropbox from $30.00 to $32.00 and gave the stock a "neutral" rating in a research note on Friday, May 9th. Three research analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, the company presently has a consensus 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.