Dropbox, Inc. $DBX Shares Bought by Charles Schwab Investment Management Inc.

Charles Schwab Investment Management Inc. increased its position in Dropbox, Inc. (NASDAQ:DBX - Free Report) by 1.2% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,950,273 shares of the company's stock after acquiring an additional 36,268 shares during the period. Charles Schwab Investment Management Inc. owned approximately 0.98% of Dropbox worth $78,802,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. True Wealth Design LLC lifted its stake 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 valued at $31,000 after buying an additional 680 shares during the period. SBI Securities Co. Ltd. boosted its holdings in shares of 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 purchasing an additional 449 shares during the last quarter. Fifth Third Bancorp boosted its holdings in shares of 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 purchasing an additional 490 shares during the last quarter. UMB Bank n.a. boosted its holdings in shares of Dropbox by 115.0% during the first quarter. UMB Bank n.a. now owns 2,501 shares of the company's stock worth $67,000 after purchasing an additional 1,338 shares during the last quarter. Finally, Kayne Anderson Rudnick Investment Management LLC acquired a new stake in shares of Dropbox during the fourth quarter worth $109,000. Institutional investors and hedge funds own 94.84% of the company's stock.

Dropbox Stock Down 2.0%

Shares of DBX stock traded down $0.56 during mid-day trading on Monday, reaching $27.27. The company's stock had a trading volume of 2,736,351 shares, compared to its average volume of 3,767,986. The company's 50 day simple moving average is $27.70 and its 200-day simple moving average is $28.07. Dropbox, Inc. has a 12-month low of $22.72 and a 12-month high of $33.33. The firm has a market capitalization of $7.36 billion, a PE ratio of 16.63, a price-to-earnings-growth ratio of 3.74 and a beta of 0.64.

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

Wall Street Analyst Weigh In

DBX has been the topic of several analyst reports. UBS Group decreased their price objective on Dropbox from $31.00 to $29.00 and set a "neutral" rating on the stock in a report on Friday, August 8th. Citigroup raised their price objective on Dropbox from $30.00 to $32.00 and gave the stock a "neutral" rating in a report on Friday, May 9th.

Insider Transactions at Dropbox

In related news, CEO Andrew Houston sold 92,000 shares of Dropbox stock in a transaction dated Tuesday, July 1st. The shares were sold at an average price of $27.96, for a total value of $2,572,320.00. Following the sale, the chief executive officer directly owned 8,266,666 shares in the company, valued at $231,135,981.36. This trade represents a 1.10% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Timothy Regan sold 2,500 shares of the business's stock in a transaction that occurred on Tuesday, July 29th. The stock was sold at an average price of $27.98, for a total value of $69,950.00. Following the transaction, the chief financial officer owned 511,094 shares of the company's stock, valued at approximately $14,300,410.12. This represents a 0.49% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 450,598 shares of company stock valued at $12,770,529 in the last three months. Corporate insiders own 28.59% of the company's stock.

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.