Graphene Investments SAS Increases Stock Position in Dropbox, Inc. (NASDAQ:DBX)

Graphene Investments SAS lifted its position in shares of Dropbox, Inc. (NASDAQ:DBX - Free Report) by 16.4% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 113,500 shares of the company's stock after buying an additional 16,000 shares during the period. Dropbox makes up about 2.2% of Graphene Investments SAS's holdings, making the stock its 11th biggest holding. Graphene Investments SAS's holdings in Dropbox were worth $3,032,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in DBX. Wedge Capital Management L L P NC increased its stake in Dropbox by 1,640.3% during the first quarter. Wedge Capital Management L L P NC now owns 2,141,026 shares of the company's stock worth $57,187,000 after acquiring an additional 2,017,997 shares during the last quarter. Arrowstreet Capital Limited Partnership grew its holdings in shares of Dropbox by 38.1% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 5,224,864 shares of the company's stock worth $156,955,000 after purchasing an additional 1,440,887 shares during the period. Caisse DE Depot ET Placement DU Quebec increased its position 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 worth $54,007,000 after purchasing an additional 1,338,234 shares in the last quarter. LSV Asset Management increased its position 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 purchasing an additional 1,245,563 shares in the last quarter. Finally, KLP Kapitalforvaltning AS purchased a new position in Dropbox in the fourth quarter valued at approximately $25,375,000. 94.84% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on DBX. UBS Group boosted 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. Citigroup upped their price target on shares of Dropbox from $30.00 to $32.00 and gave the stock a "neutral" rating in a research report on Friday, May 9th.

Insider Buying and Selling at Dropbox

In other Dropbox news, insider Eric Cox sold 2,339 shares of the stock in a transaction on Friday, May 16th. The shares were sold at an average price of $28.94, for a total transaction of $67,690.66. Following the transaction, the insider now directly owns 378,427 shares in the company, valued at $10,951,677.38. This represents a 0.61% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider William T. Yoon sold 5,449 shares of the firm's stock in a transaction on Friday, May 16th. The stock was sold at an average price of $28.94, for a total transaction of $157,694.06. Following the transaction, the insider now directly owns 245,837 shares of the company's stock, valued at approximately $7,114,522.78. This represents a 2.17% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 361,625 shares of company stock valued at $10,299,685 in the last ninety days. Insiders own 29.95% of the company's stock.

Dropbox Stock Performance

Dropbox stock opened at $27.99 on Friday. The firm has a market capitalization of $7.88 billion, a PE ratio of 18.29 and a beta of 0.66. Dropbox, Inc. has a one year low of $21.32 and a one year high of $33.33. The stock's 50 day moving average price is $28.70 and its 200 day moving average price is $28.87.

Dropbox (NASDAQ:DBX - Get Free Report) last posted 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. The company had revenue of $624.70 million for the quarter, compared to analyst estimates of $619.56 million. Dropbox had a net margin of 18.50% and a negative return on equity of 79.66%. The business's quarterly revenue was down 1.0% on a year-over-year basis. During the same quarter last year, the firm posted $0.58 earnings per share. On average, analysts forecast that Dropbox, Inc. will post 1.64 earnings per share for the current fiscal year.

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.

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