LSV Asset Management Has $326.25 Million Stock Position in Dropbox, Inc. $DBX

Key Points

• LSV Asset Management boosted its Dropbox stake by 1.1% in the fourth quarter, bringing its holdings to 11.7 million shares valued at about $326.3 million.
• Dropbox reported stronger-than-expected quarterly results, earning $0.76 per share versus the $0.71 estimate and generating $629.5 million in revenue, slightly above forecasts.
• Insider selling and mixed analyst sentiment continue to weigh on the stock, with recent insider share sales and Wall Street maintaining an average rating of “Reduce” with a $27 price target.

LSV Asset Management increased its position in Dropbox, Inc. (NASDAQ:DBX - Free Report) by 1.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 11,735,641 shares of the company's stock after purchasing an additional 121,999 shares during the quarter. LSV Asset Management owned approximately 4.54% of Dropbox worth $326,251,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Intech Investment Management LLC increased its position in Dropbox by 117.3% in the third quarter. Intech Investment Management LLC now owns 407,958 shares of the company's stock worth $12,324,000 after purchasing an additional 220,176 shares during the period. Arbejdsmarkedets Tillaegspension acquired a new stake in Dropbox in the fourth quarter worth about $22,050,000. Nisa Investment Advisors LLC increased its position in Dropbox by 57.9% in the fourth quarter. Nisa Investment Advisors LLC now owns 223,706 shares of the company's stock worth $6,219,000 after purchasing an additional 82,053 shares during the period. Tudor Investment Corp ET AL increased its position in Dropbox by 3,963.5% in the third quarter. Tudor Investment Corp ET AL now owns 312,892 shares of the company's stock worth $9,452,000 after purchasing an additional 305,192 shares during the period. Finally, WINTON GROUP Ltd acquired a new stake in Dropbox in the third quarter worth about $4,497,000. 94.84% of the stock is currently owned by institutional investors and hedge funds.

Dropbox Trading Up 0.7%

Dropbox stock opened at $27.43 on Friday. The firm has a market capitalization of $6.40 billion, a P/E ratio of 14.99, a PEG ratio of 3.07 and a beta of 0.64. Dropbox, Inc. has a 1 year low of $21.69 and a 1 year high of $32.40. The business has a 50-day moving average of $24.63 and a 200-day moving average of $26.39.

Dropbox (NASDAQ:DBX - Get Free Report) last posted its earnings results on Thursday, May 7th. The company reported $0.76 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.71 by $0.05. The company had revenue of $629.50 million during the quarter, compared to analyst estimates of $620.56 million. Dropbox had a negative return on equity of 30.01% and a net margin of 18.71%.The company's revenue for the quarter was up .8% compared to the same quarter last year. During the same period in the previous year, the company earned $0.70 EPS. Research analysts anticipate that Dropbox, Inc. will post 2.03 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, insider William T. Yoon sold 7,230 shares of the business's stock in a transaction that occurred on Monday, May 18th. The stock was sold at an average price of $27.57, for a total value of $199,331.10. Following the completion of the transaction, the insider directly owned 366,963 shares in the company, valued at approximately $10,117,169.91. The trade was a 1.93% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Ashraf Alkarmi sold 12,472 shares of the business's stock in a transaction that occurred on Tuesday, March 3rd. The shares were sold at an average price of $26.00, for a total value of $324,272.00. Following the completion of 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 SEC filing for this sale provides additional information. Insiders sold 346,569 shares of company stock worth $8,610,488 in the last three months. 35.48% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of analysts recently commented on DBX shares. UBS Group lowered their price objective on Dropbox from $27.00 to $23.00 and set a "sell" rating for the company in a research report on Friday, February 20th. Weiss Ratings restated a "hold (c)" rating on shares of Dropbox in a research report on Monday, May 4th. William Blair restated an "underperform" rating on shares of Dropbox in a research report on Monday, March 23rd. JPMorgan Chase & Co. decreased their target price on Dropbox from $29.00 to $25.00 and set a "neutral" rating for the company in a research report on Friday, February 20th. Finally, Royal Bank Of Canada boosted their target price on Dropbox from $30.00 to $32.00 and gave the stock an "outperform" rating in a research report on Friday, May 8th. One investment analyst has rated the stock with a Buy rating, three have issued a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, Dropbox presently has an average rating of "Reduce" and an average price target of $27.00.

About Dropbox

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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