Robeco Institutional Asset Management B.V. Increases Stake in Dropbox, Inc. $DBX

Key Points

• Robeco Institutional Asset Management boosted its stake in Dropbox by 22.5% in Q4 to 2,518,534 shares (about 0.97% of the company), valued at roughly $70.0 million.
• CEO Andrew Houston sold 111,166 shares on April 1 at an average $22.89 under a Rule 10b5-1 plan, and insiders have sold a total of 411,774 shares (~$10.17 million) over the past three months.
• Analysts are mixed-to-negative overall, with MarketBeat showing a consensus rating of "Reduce" and a $27.50 target after several downgrades and lowered price targets (e.g., UBS $23, RBC $30).

Robeco Institutional Asset Management B.V. lifted its stake in shares of Dropbox, Inc. (NASDAQ:DBX - Free Report) by 22.5% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,518,534 shares of the company's stock after acquiring an additional 463,258 shares during the period. Robeco Institutional Asset Management B.V. owned 0.97% of Dropbox worth $70,015,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of the stock. Rossby Financial LCC increased its position in Dropbox by 128.5% during the 3rd quarter. Rossby Financial LCC now owns 937 shares of the company's stock worth $28,000 after purchasing an additional 527 shares in the last quarter. Palisade Asset Management LLC acquired a new stake in Dropbox during the 3rd quarter worth approximately $30,000. First Horizon Corp acquired a new stake in Dropbox during the 3rd quarter worth approximately $31,000. LRI Investments LLC increased its position in Dropbox by 666.7% during the 3rd quarter. LRI Investments LLC now owns 1,150 shares of the company's stock worth $35,000 after purchasing an additional 1,000 shares in the last quarter. Finally, Geneos Wealth Management Inc. increased its position in Dropbox by 78.0% during the 2nd quarter. Geneos Wealth Management Inc. now owns 1,273 shares of the company's stock worth $36,000 after purchasing an additional 558 shares in the last quarter. 94.84% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Dropbox

In other news, CEO Andrew Houston sold 111,166 shares of the firm's stock in a transaction that occurred on Wednesday, April 1st. The shares were sold at an average price of $22.89, for a total transaction of $2,544,589.74. Following the completion of the sale, the chief executive officer owned 8,266,666 shares of the company's stock, valued at approximately $189,223,984.74. This trade represents a 1.33% decrease in their ownership of the stock. The transaction was disclosed in a filing 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. Also, CAO Sarah Elizabeth Schubach sold 1,416 shares of the firm's stock in a transaction that occurred on Tuesday, March 31st. The stock was sold at an average price of $22.60, for a total transaction of $32,001.60. Following the sale, the chief accounting officer directly owned 82,073 shares of the company's stock, valued at $1,854,849.80. The trade was a 1.70% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 411,774 shares of company stock worth $10,172,224 over the last three months. 28.59% of the stock is owned by corporate insiders.

Analyst Ratings Changes

DBX has been the subject of a number of research analyst reports. Wall Street Zen downgraded shares of Dropbox from a "buy" rating to a "hold" rating in a research report on Friday, January 23rd. William Blair reissued an "underperform" rating on shares of Dropbox in a research report on Monday, March 23rd. UBS Group dropped their target price on shares of 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 reissued a "hold (c+)" rating on shares of Dropbox in a research report on Wednesday, January 21st. Finally, Royal Bank Of Canada lowered their price objective on shares of Dropbox from $35.00 to $30.00 and set an "outperform" rating for the company in a research report on Friday, February 20th. One equities research analyst has rated the stock with a Buy rating, three have assigned a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, Dropbox has an average rating of "Reduce" and a consensus target price of $27.50.

Dropbox Price Performance

DBX opened at $22.06 on Monday. The firm has a market capitalization of $5.32 billion, a P/E ratio of 11.86, a P/E/G ratio of 1.56 and a beta of 0.61. The firm's 50 day moving average is $24.55 and its 200-day moving average is $27.17. Dropbox, Inc. has a 52-week low of $21.69 and a 52-week high of $32.40.

Dropbox (NASDAQ:DBX - Get Free Report) last released its quarterly earnings results on Thursday, February 19th. The company reported $0.68 earnings per share for the quarter, topping analysts' consensus estimates of $0.66 by $0.02. Dropbox had a net margin of 20.17% and a negative return on equity of 37.47%. The business had revenue of $636.20 million during the quarter, compared to the consensus estimate of $627.83 million. During the same quarter last year, the company earned $0.73 earnings per share. The business's quarterly revenue was down 1.1% compared to the same quarter last year. Equities analysts expect that Dropbox, Inc. will post 1.64 earnings per share for the current fiscal year.

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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