DekaBank Deutsche Girozentrale Purchases 95,205 Shares of Dropbox, Inc. (NASDAQ:DBX)

DekaBank Deutsche Girozentrale raised its stake in Dropbox, Inc. (NASDAQ:DBX - Free Report) by 5.3% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,875,968 shares of the company's stock after purchasing an additional 95,205 shares during the quarter. DekaBank Deutsche Girozentrale owned about 0.62% of Dropbox worth $49,366,000 at the end of the most recent quarter.

Several other institutional investors also recently made changes to their positions in the stock. SG Americas Securities LLC acquired a new stake in Dropbox in the first quarter valued at $647,000. Intech Investment Management LLC increased its stake in Dropbox by 185.2% during the fourth quarter. Intech Investment Management LLC now owns 150,488 shares of the company's stock valued at $4,521,000 after purchasing an additional 97,725 shares during the last quarter. HighTower Advisors LLC grew its position in shares of Dropbox by 4.3% during the 4th quarter. HighTower Advisors LLC now owns 27,707 shares of the company's stock valued at $832,000 after buying an additional 1,131 shares during the last quarter. KLP Kapitalforvaltning AS acquired a new position in Dropbox in the fourth quarter valued at approximately $25,375,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in shares of Dropbox by 8.5% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,761,252 shares of the company's stock worth $52,908,000 after purchasing an additional 137,916 shares during the last quarter. 94.84% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other Dropbox news, CFO Timothy Regan sold 10,000 shares of Dropbox stock in a transaction dated Tuesday, July 1st. The stock was sold at an average price of $27.94, for a total value of $279,400.00. Following the sale, the chief financial officer owned 516,094 shares of the company's stock, valued at $14,419,666.36. This trade represents a 1.90% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Ashraf Alkarmi sold 10,098 shares of Dropbox stock in a transaction that occurred on 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 owned 492,856 shares in the company, valued at $13,849,253.60. This trade represents a 2.01% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 466,125 shares of company stock valued at $13,222,405. 29.95% of the stock is currently owned by company insiders.

Dropbox Stock Performance

Shares of NASDAQ:DBX traded down $0.71 on Friday, hitting $26.61. 2,712,738 shares of the company were exchanged, compared to its average volume of 3,404,677. The company's 50 day moving average price is $28.65 and its two-hundred day moving average price is $28.72. The firm has a market capitalization of $7.49 billion, a price-to-earnings ratio of 17.39, a PEG ratio of 10.89 and a beta of 0.65. Dropbox, Inc. has a one year low of $21.32 and a one year high of $33.33.

Dropbox (NASDAQ:DBX - Get Free Report) last posted its earnings results on Thursday, May 8th. The company reported $0.70 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.62 by $0.08. The company had revenue of $624.70 million during the quarter, compared to analysts' expectations of $619.56 million. Dropbox had a net margin of 18.50% and a negative return on equity of 79.66%. Dropbox's quarterly revenue was down 1.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.58 earnings per share. Research analysts predict that Dropbox, Inc. will post 1.64 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on DBX. Citigroup lifted their price objective 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 lifted their price objective 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.