Dropbox, Inc. (NASDAQ:DBX) Shares Bought by Headlands Technologies LLC

Key Points

• Headlands Technologies LLC increased its stake in Dropbox by 33.1%, now holding 96,875 shares valued at approximately $2.59 million.
• Institutional ownership in Dropbox is significant, with hedge funds owning 94.84% of the company's stock.
• Recent transactions include notable insider sales, with CEO Andrew Houston selling 319,000 shares valued at over $9 million.

Headlands Technologies LLC lifted its holdings in shares of Dropbox, Inc. (NASDAQ:DBX - Free Report) by 33.1% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 96,875 shares of the company's stock after acquiring an additional 24,070 shares during the quarter. Headlands Technologies LLC's holdings in Dropbox were worth $2,588,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Wedge Capital Management L L P NC grew its position in Dropbox by 1,640.3% in the first quarter. Wedge Capital Management L L P NC now owns 2,141,026 shares of the company's stock valued at $57,187,000 after acquiring an additional 2,017,997 shares in the last quarter. Seizert Capital Partners LLC grew its holdings in Dropbox by 524.8% during the 1st quarter. Seizert Capital Partners LLC now owns 1,879,374 shares of the company's stock valued at $50,198,000 after purchasing an additional 1,578,566 shares in the last quarter. Caisse DE Depot ET Placement DU Quebec grew its holdings in Dropbox by 291.2% during the 4th quarter. Caisse DE Depot ET Placement DU Quebec now owns 1,797,823 shares of the company's stock valued at $54,007,000 after purchasing an additional 1,338,234 shares in the last quarter. LSV Asset Management increased its stake in Dropbox by 24.0% during the 4th 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 during the period. Finally, Alyeska Investment Group L.P. acquired a new position in Dropbox in the 4th quarter worth $16,015,000. Institutional investors and hedge funds own 94.84% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the stock. Citigroup upped their price objective on shares of Dropbox from $30.00 to $32.00 and gave the company a "neutral" rating in a research report on Friday, May 9th. UBS Group increased their price target on Dropbox from $30.00 to $31.00 and gave the company a "buy" rating in a report on Friday, May 9th.

Insiders Place Their Bets

In other Dropbox news, Director Karen Peacock sold 7,000 shares of the company's stock in a transaction that occurred on Tuesday, May 27th. The stock was sold at an average price of $28.53, for a total transaction of $199,710.00. Following the sale, the director owned 25,295 shares in the company, valued at $721,666.35. This represents a 21.68% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CEO Andrew Houston sold 319,000 shares of Dropbox stock in a transaction that occurred on Wednesday, June 11th. The stock was sold at an average price of $28.48, for a total value of $9,085,120.00. Following the completion of the transaction, the chief executive officer owned 8,266,666 shares of the company's stock, valued at approximately $235,434,647.68. The trade was a 3.72% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 466,125 shares of company stock valued at $13,221,355. 29.95% of the stock is owned by company insiders.

Dropbox Trading Up 1.5%

Shares of NASDAQ:DBX opened at $26.51 on Thursday. The firm has a market cap of $7.46 billion, a PE ratio of 17.33, a price-to-earnings-growth ratio of 10.28 and a beta of 0.64. The company has a fifty day simple moving average of $27.97 and a 200 day simple moving average of $28.33. Dropbox, Inc. has a 12-month low of $21.56 and a 12-month high of $33.33.

Dropbox (NASDAQ:DBX - Get Free Report) last released 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 company had revenue of $624.70 million during the quarter, compared to the consensus estimate of $619.56 million. During the same quarter in the previous year, the firm earned $0.58 EPS. The company's revenue was down 1.0% on a year-over-year basis. As a group, equities research analysts forecast that Dropbox, Inc. will post 1.64 EPS for the current fiscal year.

Dropbox Company Profile

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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