Strategic Global Advisors LLC Invests $2.18 Million in Dropbox, Inc. (NASDAQ:DBX)

Strategic Global Advisors LLC purchased a new stake in shares of Dropbox, Inc. (NASDAQ:DBX - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor purchased 72,416 shares of the company's stock, valued at approximately $2,175,000.

Several other institutional investors have also added to or reduced their stakes in the company. Bessemer Group Inc. lifted its position in shares of Dropbox by 0.3% in the 4th quarter. Bessemer Group Inc. now owns 126,321 shares of the company's stock worth $3,794,000 after purchasing an additional 333 shares during the period. Allworth Financial LP lifted its position in shares of Dropbox by 33.5% in the 4th quarter. Allworth Financial LP now owns 1,456 shares of the company's stock worth $45,000 after purchasing an additional 365 shares during the period. Heron Bay Capital Management lifted its position in shares of Dropbox by 2.3% in the 4th 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 period. Banco Bilbao Vizcaya Argentaria S.A. lifted its position 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 worth $256,000 after purchasing an additional 407 shares during the period. Finally, EverSource Wealth Advisors LLC lifted 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 worth $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.

Insider Activity

In other news, insider William T. Yoon sold 5,449 shares of the company's stock in a transaction on Friday, May 16th. The stock was sold at an average price of $28.94, for a total transaction of $157,694.06. Following the transaction, the insider now directly owns 245,837 shares of the company's stock, valued at $7,114,522.78. This represents a 2.17% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Lisa M. Campbell sold 5,239 shares of the company's stock in a transaction on Friday, May 16th. The shares were sold at an average price of $28.94, for a total value of $151,616.66. Following the transaction, the director now directly owns 19,220 shares in the company, valued at approximately $556,226.80. The trade was a 21.42% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 26,792 shares of company stock worth $754,346 over the last 90 days. 29.95% of the stock is currently owned by insiders.

Analysts Set New Price Targets

DBX has been the subject of several research analyst reports. UBS Group raised their target price 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. Citigroup raised their target price on shares of Dropbox from $30.00 to $32.00 and gave the stock a "neutral" rating in a research report on Friday, May 9th.

Dropbox Stock Performance

Shares of Dropbox stock traded down $0.08 during trading on Wednesday, hitting $28.59. The company's stock had a trading volume of 3,158,368 shares, compared to its average volume of 3,616,522. The company has a fifty day simple moving average of $27.64 and a two-hundred day simple moving average of $28.70. Dropbox, Inc. has a 52 week low of $20.68 and a 52 week high of $33.33. The company has a market capitalization of $8.05 billion, a PE ratio of 20.28, a P/E/G ratio of 1.70 and a beta of 0.68.

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, topping the consensus estimate of $0.62 by $0.08. Dropbox had a negative return on equity of 132.63% and a net margin of 17.75%. The firm had revenue of $624.70 million during the quarter, compared to analyst estimates of $619.56 million. During the same quarter in the previous year, the firm earned $0.58 EPS. Dropbox's quarterly revenue was down 1.0% compared to the same quarter last year. As a group, analysts predict that Dropbox, Inc. will post 1.64 EPS for the current year.

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.