Massachusetts Financial Services Co. MA lifted its stake in Dropbox, Inc. (NASDAQ:DBX - Free Report) by 10.2% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 820,056 shares of the company's stock after purchasing an additional 76,111 shares during the period. Massachusetts Financial Services Co. MA owned about 0.27% of Dropbox worth $21,904,000 at the end of the most recent quarter.
Other hedge funds have also recently made changes to their positions in the company. 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 valued at $193,641,000 after purchasing an additional 1,245,563 shares during the period. Arrowstreet Capital Limited Partnership boosted its holdings in shares of Dropbox by 38.1% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 5,224,864 shares of the company's stock valued at $156,955,000 after buying an additional 1,440,887 shares in the last quarter. AQR Capital Management LLC boosted its holdings in shares of Dropbox by 3.0% in the 4th quarter. AQR Capital Management LLC now owns 3,332,516 shares of the company's stock valued at $99,842,000 after buying an additional 97,551 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of Dropbox by 3.2% in the 4th quarter. Dimensional Fund Advisors LP now owns 2,646,502 shares of the company's stock valued at $79,505,000 after buying an additional 82,284 shares in the last quarter. Finally, First Trust Advisors LP boosted its holdings in shares of Dropbox by 12.2% in the 4th quarter. First Trust Advisors LP now owns 2,415,093 shares of the company's stock valued at $72,549,000 after buying an additional 262,871 shares in the last quarter. 94.84% of the stock is currently owned by institutional investors.
Dropbox Stock Performance
Dropbox stock traded up $0.13 during midday trading on Friday, reaching $27.06. The company's stock had a trading volume of 2,160,272 shares, compared to its average volume of 3,429,152. Dropbox, Inc. has a fifty-two week low of $21.32 and a fifty-two week high of $33.33. The stock's 50 day simple moving average is $28.38 and its 200 day simple moving average is $28.55. The firm has a market capitalization of $7.62 billion, a PE ratio of 17.69, a P/E/G ratio of 10.64 and a beta of 0.65.
Dropbox (NASDAQ:DBX - Get Free Report) last posted its quarterly earnings data on Thursday, May 8th. The company reported $0.70 EPS for the quarter, topping 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 firm had revenue of $624.70 million during the quarter, compared to analysts' expectations of $619.56 million. During the same quarter last year, the business posted $0.58 EPS. The firm's quarterly revenue 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.
Analyst Upgrades and Downgrades
DBX has been the subject of a number of recent analyst reports. Citigroup lifted their target price 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. UBS Group raised their price target on shares of Dropbox from $30.00 to $31.00 and gave the stock a "buy" rating in a research report on Friday, May 9th.
View Our Latest Research Report on Dropbox
Insider Buying and Selling
In related news, Director Karen Peacock sold 7,000 shares of the stock in a transaction dated Tuesday, May 27th. The stock was sold at an average price of $28.53, for a total value of $199,710.00. Following the completion of the sale, the director directly owned 25,295 shares of the company's stock, valued at approximately $721,666.35. This represents a 21.68% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider William T. Yoon sold 5,449 shares of the company's stock in a transaction dated Friday, May 16th. The stock was sold at an average price of $28.94, for a total value of $157,694.06. Following the completion of the transaction, the insider directly owned 245,837 shares in the company, valued at approximately $7,114,522.78. The trade was a 2.17% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 466,125 shares of company stock valued at $13,222,130. Company insiders own 29.95% of the company's stock.
Dropbox Company Profile
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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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