DekaBank Deutsche Girozentrale increased its position in shares of Dropbox, Inc. (NASDAQ:DBX - Free Report) by 5.3% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,875,968 shares of the company's stock after buying an additional 95,205 shares during the period. DekaBank Deutsche Girozentrale owned 0.62% of Dropbox worth $49,366,000 at the end of the most recent reporting period.
Several other large investors have also modified their holdings of the company. SG Americas Securities LLC bought a new stake in Dropbox in the 1st quarter valued at $647,000. Intech Investment Management LLC boosted its holdings in Dropbox by 185.2% in the 4th 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 period. HighTower Advisors LLC raised its stake in shares of Dropbox by 4.3% in 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 in the last quarter. KLP Kapitalforvaltning AS acquired a new position in shares of Dropbox in the 4th quarter valued at $25,375,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake 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 valued at $52,908,000 after buying an additional 137,916 shares in the last quarter. 94.84% of the stock is owned by institutional investors.
Analysts Set New Price Targets
A number of equities analysts have recently issued reports on DBX shares. UBS Group increased their price objective on shares of Dropbox from $30.00 to $31.00 and gave the company a "buy" rating in a research note on Friday, May 9th. Citigroup increased 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.
View Our Latest Stock Analysis on DBX
Insider Activity at Dropbox
In other news, CFO Timothy Regan sold 10,000 shares of Dropbox stock in a transaction that occurred on Tuesday, July 1st. The shares were sold at an average price of $27.94, for a total transaction of $279,400.00. Following the completion of the sale, the chief financial officer owned 516,094 shares in the company, valued at $14,419,666.36. The trade was a 1.90% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, 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 transaction of $283,753.80. Following the transaction, the insider directly owned 492,856 shares in the company, valued at $13,849,253.60. The trade was a 2.01% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 466,125 shares of company stock worth $13,222,405 over the last 90 days. Insiders own 29.95% of the company's stock.
Dropbox Trading Down 2.6%
Shares of Dropbox stock traded down $0.71 during mid-day trading on Friday, reaching $26.61. 2,712,738 shares of the stock were exchanged, compared to its average volume of 3,405,596. The company has a market cap of $7.49 billion, a price-to-earnings ratio of 17.39, a price-to-earnings-growth ratio of 10.47 and a beta of 0.65. The firm has a 50-day simple moving average of $28.61 and a 200 day simple moving average of $28.67. Dropbox, Inc. has a fifty-two week low of $21.32 and a fifty-two week high of $33.33.
Dropbox (NASDAQ:DBX - Get Free Report) last announced its earnings results on Thursday, May 8th. The company reported $0.70 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.62 by $0.08. The business 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%. The firm's revenue for the quarter was down 1.0% on a year-over-year basis. During the same quarter last year, the company posted $0.58 EPS. On average, research analysts predict that Dropbox, Inc. will post 1.64 EPS for the current fiscal year.
About Dropbox
(
Free Report)
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.
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