Robeco Institutional Asset Management B.V. lessened its stake in shares of Dropbox, Inc. (NASDAQ:DBX - Free Report) by 1.0% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,148,832 shares of the company's stock after selling 21,574 shares during the quarter. Robeco Institutional Asset Management B.V. owned about 0.71% of Dropbox worth $57,395,000 at the end of the most recent reporting period.
Other institutional investors have also modified their holdings of the company. Bessemer Group Inc. raised 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 in the last quarter. Heron Bay Capital Management grew its holdings in shares of Dropbox by 2.3% during the fourth quarter. Heron Bay Capital Management now owns 16,769 shares of the company's stock worth $504,000 after purchasing an additional 378 shares during the last quarter. Parallel Advisors LLC increased its position in shares of Dropbox by 5.6% during the first quarter. Parallel Advisors LLC now owns 7,411 shares of the company's stock worth $198,000 after purchasing an additional 395 shares in the last quarter. Banco Bilbao Vizcaya Argentaria S.A. lifted its holdings in shares of Dropbox by 5.1% in the 4th quarter. Banco Bilbao Vizcaya Argentaria S.A. now owns 8,419 shares of the company's stock valued at $256,000 after purchasing an additional 407 shares during the last quarter. Finally, EverSource Wealth Advisors LLC boosted its position in shares of Dropbox by 96.1% in the 4th quarter. EverSource Wealth Advisors LLC now owns 865 shares of the company's stock valued at $26,000 after purchasing an additional 424 shares during the period. Hedge funds and other institutional investors own 94.84% of the company's stock.
Dropbox Price Performance
Shares of NASDAQ:DBX traded up $0.48 during trading on Monday, reaching $28.60. The company had a trading volume of 3,520,140 shares, compared to its average volume of 3,378,265. The firm has a market capitalization of $8.05 billion, a price-to-earnings ratio of 18.69 and a beta of 0.66. The stock's fifty day moving average price is $28.76 and its 200 day moving average price is $28.84. Dropbox, Inc. has a fifty-two week low of $21.32 and a fifty-two week high of $33.33.
Dropbox (NASDAQ:DBX - Get Free Report) last posted its quarterly earnings data on Thursday, May 8th. The company reported $0.70 earnings per share for the quarter, beating analysts' consensus estimates of $0.62 by $0.08. The firm had revenue of $624.70 million for the quarter, compared to analyst estimates of $619.56 million. Dropbox had a net margin of 18.50% and a negative return on equity of 79.66%. Dropbox's quarterly revenue was down 1.0% on a year-over-year basis. During the same period last year, the firm posted $0.58 EPS. On average, equities analysts anticipate that Dropbox, Inc. will post 1.64 EPS for the current fiscal year.
Analyst Upgrades and Downgrades
Several research firms have recently weighed in on DBX. UBS Group increased their price objective on Dropbox from $30.00 to $31.00 and gave the company a "buy" rating in a report on Friday, May 9th. Citigroup upped their target price on shares of Dropbox from $30.00 to $32.00 and gave the company a "neutral" rating in a report on Friday, May 9th.
Get Our Latest Stock Report on DBX
Insider Buying and Selling
In other news, insider Ashraf Alkarmi sold 10,098 shares of the stock in a transaction that occurred on Friday, June 13th. The stock was sold at an average price of $28.10, for a total transaction of $283,753.80. Following the completion of the transaction, the insider directly owned 492,856 shares of the company's stock, valued at approximately $13,849,253.60. This represents a 2.01% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Andrew Houston sold 319,000 shares of the company'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 transaction, the chief executive officer directly owned 8,266,666 shares in the company, valued at $235,434,647.68. This represents a 3.72% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 361,625 shares of company stock worth $10,299,685 in the last three months. Company insiders own 28.59% 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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