Ontario Teachers Pension Plan Board Purchases 14,773 Shares of Dropbox, Inc. (NASDAQ:DBX)

Key Points

• The Ontario Teachers Pension Plan Board increased its stake in Dropbox, Inc. by 29.8%, now holding 64,390 shares worth approximately $1.72 million after acquiring an additional 14,773 shares.
• Dropbox recently reported earnings of $0.71 per share, exceeding analysts' expectations, with total revenue reaching $625.7 million, marking a 1.4% decline year-over-year.
• Institutional investors control over 94.84% of Dropbox's shares, highlighting significant interest from various funds, while insiders have sold around 466,125 shares in the past ninety days.

Ontario Teachers Pension Plan Board increased its position in shares of Dropbox, Inc. (NASDAQ:DBX - Free Report) by 29.8% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 64,390 shares of the company's stock after acquiring an additional 14,773 shares during the quarter. Ontario Teachers Pension Plan Board's holdings in Dropbox were worth $1,720,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Bessemer Group Inc. boosted its stake in 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 during the last quarter. Parallel Advisors LLC boosted its stake in 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 during the last quarter. Banco Bilbao Vizcaya Argentaria S.A. boosted its stake in 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 during the last quarter. SBI Securities Co. Ltd. lifted its stake in Dropbox by 33.4% in the first quarter. SBI Securities Co. Ltd. now owns 1,794 shares of the company's stock valued at $48,000 after buying an additional 449 shares in the last quarter. Finally, Fifth Third Bancorp lifted its stake in Dropbox by 27.3% in the first quarter. Fifth Third Bancorp now owns 2,288 shares of the company's stock valued at $61,000 after buying an additional 490 shares in the last quarter. Institutional investors own 94.84% of the company's stock.

Dropbox Stock Performance

Shares of DBX opened at $26.20 on Friday. Dropbox, Inc. has a twelve month low of $21.59 and a twelve month high of $33.33. The firm's 50 day moving average price is $27.92 and its two-hundred day moving average price is $28.30. The firm has a market cap of $7.38 billion, a P/E ratio of 17.12, a PEG ratio of 10.43 and a beta of 0.64.

Dropbox (NASDAQ:DBX - Get Free Report) last announced its quarterly earnings results on Thursday, August 7th. The company reported $0.71 earnings per share for the quarter, beating analysts' consensus estimates of $0.63 by $0.08. Dropbox had a net margin of 18.50% and a negative return on equity of 79.66%. The firm had revenue of $625.70 million for the quarter, compared to analyst estimates of $618.60 million. During the same quarter in the previous year, the firm posted $0.60 earnings per share. The business's revenue was down 1.4% on a year-over-year basis. On average, sell-side analysts anticipate that Dropbox, Inc. will post 1.64 earnings per share for the current fiscal year.

Insider Buying and Selling at Dropbox

In other news, Director Karen Peacock sold 7,000 shares of Dropbox stock in a transaction that occurred on Tuesday, May 27th. The shares were sold at an average price of $28.53, for a total value of $199,710.00. Following the sale, the director directly owned 25,295 shares in the company, valued at $721,666.35. This trade represents a 21.68% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Andrew Houston sold 92,000 shares of Dropbox stock in a transaction that occurred on Tuesday, July 1st. The shares were sold at an average price of $27.96, for a total transaction of $2,572,320.00. Following the completion of the sale, the chief executive officer owned 8,266,666 shares in the company, valued at $231,135,981.36. This trade represents a 1.10% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 466,125 shares of company stock valued at $13,221,355 over the last ninety days. 29.95% of the stock is currently owned by company insiders.

Analyst Ratings Changes

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

Dropbox Company 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.

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