Massachusetts Financial Services Co. MA Grows Position in Dropbox, Inc. (NASDAQ:DBX)

Massachusetts Financial Services Co. MA increased its stake in Dropbox, Inc. (NASDAQ:DBX - Free Report) by 10.2% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 820,056 shares of the company's stock after purchasing an additional 76,111 shares during the quarter. Massachusetts Financial Services Co. MA owned approximately 0.27% of Dropbox worth $21,904,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of DBX. SBI Securities Co. Ltd. grew its holdings in Dropbox by 33.4% in the first quarter. SBI Securities Co. Ltd. now owns 1,794 shares of the company's stock worth $48,000 after purchasing an additional 449 shares during the last quarter. Nisa Investment Advisors LLC lifted its stake in Dropbox by 3,492.7% in the 1st quarter. Nisa Investment Advisors LLC now owns 193,611 shares of the company's stock valued at $5,171,000 after buying an additional 188,222 shares in the last quarter. Banque Pictet & Cie SA acquired a new stake in Dropbox in the 1st quarter valued at about $346,000. Rehmann Capital Advisory Group acquired a new stake in Dropbox in the 1st quarter valued at about $675,000. Finally, DekaBank Deutsche Girozentrale increased its holdings in shares of Dropbox by 5.3% during the 1st quarter. DekaBank Deutsche Girozentrale now owns 1,875,968 shares of the company's stock worth $49,366,000 after buying an additional 95,205 shares during the last quarter. 94.84% of the stock is owned by institutional investors.

Insiders Place Their Bets

In related news, 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 value of $283,753.80. Following the completion of the sale, the insider directly owned 492,856 shares in the company, valued at approximately $13,849,253.60. This trade represents a 2.01% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Karen Peacock sold 7,000 shares of the 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 position. The disclosure for this sale can be found here. Insiders have sold a total of 466,125 shares of company stock valued at $13,222,130 over the last quarter. 28.59% of the stock is owned by insiders.

Dropbox Stock Up 2.4%

Shares of DBX stock traded up $0.66 during mid-day trading on Tuesday, reaching $27.88. 2,698,753 shares of the company's stock traded hands, compared to its average volume of 3,428,286. The company's 50-day moving average price is $28.33 and its 200-day moving average price is $28.53. The company has a market cap of $7.85 billion, a P/E ratio of 18.22, a P/E/G ratio of 10.71 and a beta of 0.65. Dropbox, Inc. has a 12 month low of $21.32 and a 12 month high of $33.33.

Dropbox (NASDAQ:DBX - Get Free Report) last posted its quarterly earnings results 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 company had revenue of $624.70 million for the quarter, compared to analyst estimates of $619.56 million. During the same quarter last year, the company earned $0.58 EPS. Dropbox's revenue for the quarter was down 1.0% compared to the same quarter last year. Equities analysts predict that Dropbox, Inc. will post 1.64 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on the stock. UBS Group raised 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 raised their price objective on shares of Dropbox from $30.00 to $32.00 and gave the stock a "neutral" rating in a research note on Friday, May 9th.

Dropbox 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.