Legato Capital Management LLC bought a new stake in shares of Dropbox, Inc. (NASDAQ:DBX - Free Report) in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm bought 72,104 shares of the company's stock, valued at approximately $1,926,000.
Other hedge funds also recently bought and sold shares of the company. Bessemer Group Inc. raised its position 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 acquiring an additional 333 shares in the last quarter. Parallel Advisors LLC raised its position in shares of Dropbox by 5.6% during the 1st quarter. Parallel Advisors LLC now owns 7,411 shares of the company's stock worth $198,000 after acquiring an additional 395 shares in the last quarter. Banco Bilbao Vizcaya Argentaria S.A. raised its position in shares of Dropbox by 5.1% during the 4th quarter. Banco Bilbao Vizcaya Argentaria S.A. now owns 8,419 shares of the company's stock worth $256,000 after acquiring an additional 407 shares in the last quarter. SBI Securities Co. Ltd. raised 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 worth $48,000 after acquiring an additional 449 shares in the last quarter. Finally, Fifth Third Bancorp raised 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 worth $61,000 after acquiring an additional 490 shares in the last quarter. Institutional investors and hedge funds own 94.84% of the company's stock.
Wall Street Analyst Weigh In
Several research analysts have weighed in on the company. UBS Group lifted their target price on Dropbox from $30.00 to $31.00 and gave the company a "buy" rating in a research note on Friday, May 9th. Citigroup lifted their price target on Dropbox from $30.00 to $32.00 and gave the company a "neutral" rating in a research note on Friday, May 9th.
Get Our Latest Stock Report on DBX
Dropbox Stock Performance
NASDAQ:DBX opened at $27.88 on Wednesday. Dropbox, Inc. has a one year low of $21.32 and a one year high of $33.33. The business's 50-day simple moving average is $28.33 and its 200 day simple moving average is $28.53. The stock has a market cap of $7.85 billion, a price-to-earnings ratio of 18.22, a price-to-earnings-growth ratio of 10.71 and a beta of 0.65.
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 the consensus estimate of $0.62 by $0.08. The firm had revenue of $624.70 million for the quarter, compared to analysts' expectations of $619.56 million. Dropbox had a negative return on equity of 79.66% and a net margin of 18.50%. Dropbox's revenue for the quarter was down 1.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.58 earnings per share. On average, equities research analysts predict that Dropbox, Inc. will post 1.64 EPS for the current year.
Insiders Place Their Bets
In other Dropbox news, Director Karen Peacock sold 7,000 shares of the stock in a transaction 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 completion of the transaction, the director directly owned 25,295 shares of the company's stock, valued at approximately $721,666.35. This trade 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, CEO Andrew Houston sold 319,000 shares of the firm's stock in a transaction 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 sale, the chief executive officer directly owned 8,266,666 shares of the company's stock, valued at approximately $235,434,647.68. This represents a 3.72% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 466,125 shares of company stock worth $13,222,130. 28.59% of the stock is owned by company insiders.
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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