Dropbox, Inc. $DBX Shares Purchased by Bokf Na

Key Points

• Bokf Na increased its Dropbox stake by 48.8% to 163,896 shares (about $4.95M), and institutional investors now own roughly 94.84% of DBX.
• Several analysts have cut price targets (e.g., JPMorgan to $25, UBS to $23) and the stock carries a consensus "Hold" rating with an average target of $27.50.
• Insiders sold about 451,613 shares (~$11.74M) in the past three months (insiders own 29.95%), while Dropbox's latest quarter beat EPS ($0.68 vs. $0.66) but revenue fell 1.1% year‑over‑year to $636.2M.

Bokf Na grew its position in shares of Dropbox, Inc. (NASDAQ:DBX - Free Report) by 48.8% during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 163,896 shares of the company's stock after purchasing an additional 53,741 shares during the period. Bokf Na owned approximately 0.06% of Dropbox worth $4,951,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. LSV Asset Management lifted its stake in Dropbox by 38.1% during the 3rd quarter. LSV Asset Management now owns 11,613,642 shares of the company's stock worth $350,848,000 after acquiring an additional 3,205,140 shares in the last quarter. Intech Investment Management LLC grew its position in Dropbox by 117.3% in the 3rd quarter. Intech Investment Management LLC now owns 407,958 shares of the company's stock valued at $12,324,000 after acquiring an additional 220,176 shares in the last quarter. Kestra Investment Management LLC acquired a new position in Dropbox in the 2nd quarter valued at about $682,000. CenterBook Partners LP purchased a new stake in Dropbox during the second quarter worth about $2,368,000. Finally, Norges Bank acquired a new stake in shares of Dropbox during the second quarter worth about $51,307,000. 94.84% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on DBX shares. JPMorgan Chase & Co. lowered their price objective on shares of Dropbox from $29.00 to $25.00 and set a "neutral" rating for the company in a research note on Friday, February 20th. Wall Street Zen lowered shares of Dropbox from a "buy" rating to a "hold" rating in a report on Friday, January 23rd. UBS Group decreased their price target on shares of Dropbox from $27.00 to $23.00 and set a "sell" rating for the company in a research report on Friday, February 20th. Royal Bank Of Canada dropped their price target on shares of Dropbox from $35.00 to $30.00 and set an "outperform" rating for the company in a research note on Friday, February 20th. Finally, Weiss Ratings reiterated a "hold (c+)" rating on shares of Dropbox in a research note on Wednesday, January 21st. One analyst has rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $27.50.

Insider Activity

In related news, insider Ashraf Alkarmi sold 12,472 shares of the stock in a transaction on Tuesday, March 3rd. The stock was sold at an average price of $26.00, for a total value of $324,272.00. Following the transaction, the insider owned 414,661 shares of the company's stock, valued at $10,781,186. This represents a 2.92% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CAO Sarah Elizabeth Schubach sold 1,416 shares of Dropbox stock in a transaction dated Wednesday, February 18th. The stock was sold at an average price of $24.49, for a total value of $34,677.84. Following the sale, the chief accounting officer directly owned 86,319 shares of the company's stock, valued at $2,113,952.31. This trade represents a 1.61% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 451,613 shares of company stock worth $11,737,127. 29.95% of the stock is currently owned by company insiders.

Dropbox Stock Performance

DBX stock opened at $25.91 on Friday. The company's 50 day moving average price is $25.76 and its 200 day moving average price is $28.16. The firm has a market capitalization of $6.25 billion, a price-to-earnings ratio of 13.93, a PEG ratio of 1.82 and a beta of 0.63. Dropbox, Inc. has a fifty-two week low of $23.63 and a fifty-two week high of $32.40.

Dropbox (NASDAQ:DBX - Get Free Report) last issued its quarterly earnings results on Thursday, February 19th. The company reported $0.68 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.66 by $0.02. Dropbox had a net margin of 20.17% and a negative return on equity of 37.47%. The company had revenue of $636.20 million during the quarter, compared to the consensus estimate of $627.83 million. During the same quarter in the previous year, the firm earned $0.73 earnings per share. The firm's quarterly revenue was down 1.1% on a year-over-year basis. Equities analysts forecast that Dropbox, Inc. will post 1.64 EPS for the current fiscal year.

Dropbox Company Profile

Dropbox, Inc NASDAQ: DBX is a leading provider of cloud-based file storage, collaboration, and productivity tools. Founded in 2007 and headquartered in San Francisco, California, the company offers a suite of services designed to help individuals and organizations securely store, share, and manage digital content. Dropbox has grown from a simple file-syncing application into an integrated collaboration platform used by millions of customers around the globe.

At its core, Dropbox provides cloud storage plans tailored for consumers and businesses.

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