DekaBank Deutsche Girozentrale Acquires 869,043 Shares of Dropbox, Inc. (NASDAQ:DBX)

DekaBank Deutsche Girozentrale lifted its position in Dropbox, Inc. (NASDAQ:DBX - Free Report) by 65.8% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 2,189,593 shares of the company's stock after purchasing an additional 869,043 shares during the period. DekaBank Deutsche Girozentrale owned about 0.63% of Dropbox worth $64,825,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in the company. Wedge Capital Management L L P NC raised its position in Dropbox by 1,287.7% during the 3rd quarter. Wedge Capital Management L L P NC now owns 2,725,139 shares of the company's stock valued at $74,206,000 after purchasing an additional 2,528,754 shares during the last quarter. Baupost Group LLC MA raised its holdings in shares of Dropbox by 30.6% during the first quarter. Baupost Group LLC MA now owns 10,571,046 shares of the company's stock valued at $245,777,000 after acquiring an additional 2,476,021 shares in the last quarter. AQR Capital Management LLC lifted its stake in Dropbox by 102.3% in the first quarter. AQR Capital Management LLC now owns 2,556,821 shares of the company's stock worth $54,230,000 after acquiring an additional 1,292,761 shares during the period. Virginia Retirement Systems ET AL bought a new stake in Dropbox in the second quarter valued at $32,536,000. Finally, Caisse DE Depot ET Placement DU Quebec increased its position in Dropbox by 179.7% during the 1st quarter. Caisse DE Depot ET Placement DU Quebec now owns 1,745,670 shares of the company's stock valued at $37,741,000 after purchasing an additional 1,121,458 shares during the period. 94.84% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, CEO Andrew Houston sold 164,000 shares of the business's stock in a transaction on Tuesday, March 5th. The stock was sold at an average price of $23.86, for a total value of $3,913,040.00. Following the completion of the transaction, the chief executive officer now owns 8,266,666 shares in the company, valued at $197,242,650.76. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CEO Andrew Houston sold 164,000 shares of Dropbox stock in a transaction that occurred on Tuesday, March 5th. The shares were sold at an average price of $23.86, for a total value of $3,913,040.00. Following the completion of the sale, the chief executive officer now directly owns 8,266,666 shares in the company, valued at $197,242,650.76. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Bart Volkmer sold 7,039 shares of the stock in a transaction that occurred on Friday, March 15th. The shares were sold at an average price of $24.02, for a total transaction of $169,076.78. Following the transaction, the insider now owns 233,988 shares in the company, valued at approximately $5,620,391.76. The disclosure for this sale can be found here. Insiders sold a total of 180,039 shares of company stock worth $4,324,757 in the last three months. Insiders own 25.78% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on DBX shares. KeyCorp lifted their target price on shares of Dropbox from $32.00 to $37.00 and gave the company an "overweight" rating in a research note on Friday, January 19th. UBS Group started coverage on Dropbox in a research report on Friday, December 15th. They set a "buy" rating and a $36.00 price objective on the stock. The Goldman Sachs Group downgraded Dropbox from a "neutral" rating to a "sell" rating and reduced their target price for the stock from $26.00 to $24.00 in a report on Friday, February 16th. Bank of America cut Dropbox from a "buy" rating to an "underperform" rating and lowered their target price for the company from $34.00 to $28.00 in a research note on Friday, February 16th. Finally, JMP Securities lowered Dropbox from an "outperform" rating to a "market perform" rating in a research report on Friday, February 16th. Three research analysts have rated the stock with a sell rating, four have assigned a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $29.78.

Dropbox Stock Performance

Shares of DBX traded up $0.04 during trading hours on Friday, hitting $23.27. The company had a trading volume of 2,939,446 shares, compared to its average volume of 3,929,066. Dropbox, Inc. has a 52-week low of $19.55 and a 52-week high of $33.43. The firm has a fifty day moving average price of $26.42 and a 200-day moving average price of $27.71. The stock has a market capitalization of $8.00 billion, a price-to-earnings ratio of 17.63, a P/E/G ratio of 2.62 and a beta of 0.71.

Dropbox (NASDAQ:DBX - Get Free Report) last issued its earnings results on Thursday, February 15th. The company reported $0.25 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.26 by ($0.01). The firm had revenue of $635.00 million during the quarter, compared to analysts' expectations of $630.77 million. Dropbox had a negative return on equity of 120.82% and a net margin of 18.13%. Research analysts anticipate that Dropbox, Inc. will post 1.14 earnings per share for the current fiscal year.

About Dropbox

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.