Dropbox, Inc. (NASDAQ:DBX) Shares Purchased by Charles Schwab Investment Management Inc.

Charles Schwab Investment Management Inc. raised its holdings in Dropbox, Inc. (NASDAQ:DBX - Free Report) by 1.2% in the 1st quarter, according to 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 buying an additional 36,268 shares during the quarter. Charles Schwab Investment Management Inc. owned approximately 0.98% of Dropbox worth $78,802,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of DBX. LPL Financial LLC boosted its stake in Dropbox by 31.2% during the fourth quarter. LPL Financial LLC now owns 24,506 shares of the company's stock valued at $736,000 after buying an additional 5,823 shares in the last quarter. Envestnet Asset Management Inc. grew its stake in shares of Dropbox by 31.9% during the fourth quarter. Envestnet Asset Management Inc. now owns 39,526 shares of the company's stock worth $1,187,000 after purchasing an additional 9,570 shares during the period. Raymond James Financial Inc. acquired a new position in Dropbox in the fourth quarter valued at about $2,511,000. Sterling Capital Management LLC raised its holdings in Dropbox by 40.2% during the fourth quarter. Sterling Capital Management LLC now owns 11,112 shares of the company's stock worth $334,000 after acquiring an additional 3,187 shares in the last quarter. Finally, CreativeOne Wealth LLC increased its stake in shares of Dropbox by 34.7% during the fourth quarter. CreativeOne Wealth LLC now owns 12,274 shares of the company's stock worth $369,000 after purchasing an additional 3,159 shares during the period. 94.84% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Dropbox news, insider Ashraf Alkarmi sold 10,098 shares of Dropbox stock in a transaction that occurred on Friday, June 13th. The stock was sold at an average price of $28.10, for a total value of $283,753.80. Following the completion of the sale, the insider directly owned 492,856 shares in the company, valued at approximately $13,849,253.60. The trade was a 2.01% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Andrew Houston sold 92,000 shares of the company's stock in a transaction on Tuesday, July 1st. The stock was sold at an average price of $27.96, for a total value of $2,572,320.00. Following the sale, the chief executive officer owned 8,266,666 shares of the company's stock, valued at $231,135,981.36. This trade represents a 1.10% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 450,598 shares of company stock valued at $12,770,529. 29.95% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several analysts have recently commented on DBX shares. Citigroup increased 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. UBS Group cut their price objective on Dropbox from $31.00 to $29.00 and set a "neutral" rating for the company in a research report on Friday, August 8th.

Dropbox Stock Up 0.3%

Shares of Dropbox stock traded up $0.09 during trading hours on Friday, hitting $27.82. The company's stock had a trading volume of 3,517,253 shares, compared to its average volume of 3,213,328. The business has a fifty day moving average of $27.70 and a 200 day moving average of $28.10. Dropbox, Inc. has a 1-year low of $22.43 and a 1-year high of $33.33. The company has a market capitalization of $7.51 billion, a PE ratio of 16.96, a P/E/G ratio of 3.74 and a beta of 0.64.

Dropbox (NASDAQ:DBX - Get Free Report) last released its quarterly earnings results on Thursday, August 7th. The company reported $0.71 EPS for the quarter, beating analysts' consensus estimates of $0.63 by $0.08. The company had revenue of $625.70 million for 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 last year, the firm posted $0.60 earnings per share. On average, sell-side 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.