Allianz Asset Management GmbH raised its stake in Dropbox, Inc. (NASDAQ:DBX - Free Report) by 25.6% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 981,479 shares of the company's stock after purchasing an additional 199,768 shares during the quarter. Allianz Asset Management GmbH owned approximately 0.33% of Dropbox worth $26,215,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently bought and sold shares of the stock. Bessemer Group Inc. raised its holdings in shares of Dropbox by 0.3% during the 4th quarter. Bessemer Group Inc. now owns 126,321 shares of the company's stock worth $3,794,000 after buying an additional 333 shares in the last quarter. Parallel Advisors LLC grew its position in shares of Dropbox by 5.6% in the 1st quarter. Parallel Advisors LLC now owns 7,411 shares of the company's stock valued at $198,000 after buying an additional 395 shares during the last quarter. Banco Bilbao Vizcaya Argentaria S.A. grew its position in shares of Dropbox by 5.1% in the 4th quarter. Banco Bilbao Vizcaya Argentaria S.A. now owns 8,419 shares of the company's stock valued at $256,000 after buying an additional 407 shares during the last quarter. SBI Securities Co. Ltd. boosted its position in shares of Dropbox by 33.4% during the 1st quarter. SBI Securities Co. Ltd. now owns 1,794 shares of the company's stock valued at $48,000 after purchasing an additional 449 shares in the last quarter. Finally, Fifth Third Bancorp boosted its position in shares of Dropbox by 27.3% during the 1st quarter. Fifth Third Bancorp now owns 2,288 shares of the company's stock valued at $61,000 after purchasing an additional 490 shares in the last quarter. 94.84% of the stock is currently owned by institutional investors.
Insider Buying and Selling at Dropbox
In related news, Director Karen Peacock sold 7,000 shares of the stock in a transaction dated Tuesday, May 27th. The shares were sold at an average price of $28.53, for a total transaction of $199,710.00. Following the sale, the director directly owned 25,295 shares of the company's stock, valued at approximately $721,666.35. This represents a 21.68% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Ashraf Alkarmi sold 10,098 shares of the firm's 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 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. In the last quarter, insiders sold 466,125 shares of company stock worth $13,222,130. 29.95% of the stock is owned by corporate insiders.
Analyst Ratings Changes
A number of research analysts recently weighed in on DBX shares. Citigroup upped their price target 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 increased their price objective on Dropbox from $30.00 to $31.00 and gave the stock a "buy" rating in a research note on Friday, May 9th.
Get Our Latest Stock Report on DBX
Dropbox Stock Down 0.9%
Shares of DBX stock traded down $0.24 during trading on Thursday, hitting $27.91. The company had a trading volume of 2,759,100 shares, compared to its average volume of 3,390,470. The stock's 50-day moving average is $28.27 and its two-hundred day moving average is $28.52. The stock has a market capitalization of $7.86 billion, a price-to-earnings ratio of 18.24, a price-to-earnings-growth ratio of 11.07 and a beta of 0.65. Dropbox, Inc. has a 52 week low of $21.32 and a 52 week high of $33.33.
Dropbox (NASDAQ:DBX - Get Free Report) last announced its quarterly earnings data 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. Dropbox had a negative return on equity of 79.66% and a net margin of 18.50%. The firm had revenue of $624.70 million for the quarter, compared to analysts' expectations of $619.56 million. During the same period last year, the firm earned $0.58 earnings per share. The company's revenue for the quarter was down 1.0% compared to the same quarter last year. On average, research analysts predict that Dropbox, Inc. will post 1.64 EPS for the current fiscal year.
Dropbox Profile
(
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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