Dropbox, Inc. (NASDAQ:DBX) Position Boosted by Crossmark Global Holdings Inc.

Crossmark Global Holdings Inc. increased its position in shares of Dropbox, Inc. (NASDAQ:DBX - Free Report) by 36.1% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 255,407 shares of the company's stock after buying an additional 67,805 shares during the quarter. Crossmark Global Holdings Inc. owned about 0.08% of Dropbox worth $6,822,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. LSV Asset Management raised its position in shares of Dropbox by 24.0% in the fourth quarter. LSV Asset Management now owns 6,446,121 shares of the company's stock worth $193,641,000 after buying an additional 1,245,563 shares in the last quarter. Arrowstreet Capital Limited Partnership grew its stake in shares of Dropbox by 38.1% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 5,224,864 shares of the company's stock worth $156,955,000 after purchasing an additional 1,440,887 shares during the last quarter. AQR Capital Management LLC boosted its position in Dropbox by 3.0% during the 4th quarter. AQR Capital Management LLC now owns 3,332,516 shares of the company's stock valued at $99,842,000 after acquiring an additional 97,551 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of Dropbox by 4.2% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,914,005 shares of the company's stock valued at $87,537,000 after purchasing an additional 117,767 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its holdings in shares of Dropbox by 3.2% during the fourth quarter. Dimensional Fund Advisors LP now owns 2,646,502 shares of the company's stock valued at $79,505,000 after purchasing an additional 82,284 shares during the last quarter. 94.84% of the stock is owned by institutional investors.

Dropbox Price Performance

DBX traded down $0.67 on Friday, reaching $26.66. 463,920 shares of the company's stock were exchanged, compared to its average volume of 3,396,142. The stock's fifty day moving average price is $28.65 and its 200-day moving average price is $28.72. Dropbox, Inc. has a twelve month low of $21.32 and a twelve month high of $33.33. The stock has a market cap of $7.50 billion, a PE ratio of 17.46, a P/E/G ratio of 10.89 and a beta of 0.65.

Dropbox (NASDAQ:DBX - Get Free Report) last announced its earnings results on Thursday, May 8th. The company reported $0.70 earnings per share for the quarter, topping the consensus estimate of $0.62 by $0.08. Dropbox had a net margin of 18.50% and a negative return on equity of 79.66%. The firm had revenue of $624.70 million for the quarter, compared to the consensus estimate of $619.56 million. During the same period in the prior year, the firm earned $0.58 EPS. The firm's revenue for the quarter was down 1.0% on a year-over-year basis. As a group, research analysts predict that Dropbox, Inc. will post 1.64 earnings per share for the current fiscal year.

Insider Transactions at Dropbox

In other Dropbox news, Director Karen Peacock sold 7,000 shares of the firm's stock in a transaction on Tuesday, May 27th. The shares were sold at an average price of $28.53, for a total transaction of $199,710.00. Following the transaction, the director directly owned 25,295 shares of the company's stock, valued at approximately $721,666.35. This trade represents a 21.68% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Ashraf Alkarmi sold 10,098 shares of Dropbox stock in a transaction dated Friday, June 13th. The shares were sold at an average price of $28.10, for a total transaction 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 position. The disclosure for this sale can be found here. Over the last three months, insiders sold 466,125 shares of company stock worth $13,222,405. Insiders own 29.95% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on DBX. Citigroup boosted their target price on shares of Dropbox from $30.00 to $32.00 and gave the company a "neutral" rating in a research note on Friday, May 9th. UBS Group boosted their price target on shares of Dropbox from $30.00 to $31.00 and gave the stock a "buy" rating in a research note on Friday, May 9th.

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.