Harel Insurance Investments & Financial Services Ltd. Raises Stock Position in Dropbox, Inc. (NASDAQ:DBX)

Harel Insurance Investments & Financial Services Ltd. grew its holdings in Dropbox, Inc. (NASDAQ:DBX - Free Report) by 10,822.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 78,207 shares of the company's stock after buying an additional 77,491 shares during the quarter. Harel Insurance Investments & Financial Services Ltd.'s holdings in Dropbox were worth $2,324,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Louisiana State Employees Retirement System bought a new position in Dropbox during the 4th quarter worth approximately $2,123,000. AlphaQ Advisors LLC bought a new stake in shares of Dropbox in the 4th quarter valued at $265,000. Clarius Group LLC bought a new stake in shares of Dropbox in the 4th quarter valued at $206,000. Cerity Partners LLC raised its stake in Dropbox by 0.7% during the 4th quarter. Cerity Partners LLC now owns 79,052 shares of the company's stock worth $2,330,000 after buying an additional 565 shares during the period. Finally, DekaBank Deutsche Girozentrale lifted its holdings in Dropbox by 65.8% during the fourth quarter. DekaBank Deutsche Girozentrale now owns 2,189,593 shares of the company's stock worth $64,825,000 after acquiring an additional 869,043 shares in the last quarter. 94.84% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Dropbox

In other news, CEO Andrew Houston sold 164,000 shares of the stock in a transaction on Tuesday, March 5th. The stock was sold at an average price of $23.86, for a total transaction of $3,913,040.00. Following the sale, the chief executive officer now directly owns 8,266,666 shares of the company's stock, valued at approximately $197,242,650.76. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, insider Bart Volkmer sold 7,039 shares of Dropbox stock in a transaction on Friday, March 15th. The stock was sold at an average price of $24.02, for a total value 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 sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Andrew Houston sold 164,000 shares of the company'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 sale, the chief executive officer now owns 8,266,666 shares of the company's stock, valued at $197,242,650.76. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 180,039 shares of company stock worth $4,324,757. Company insiders own 25.78% of the company's stock.

Wall Street Analyst Weigh In

DBX has been the topic of several research reports. JMP Securities cut Dropbox from an "outperform" rating to a "market perform" rating in a research note on Friday, February 16th. KeyCorp raised their price objective on Dropbox from $32.00 to $37.00 and gave the company an "overweight" rating in a report on Friday, January 19th. Citigroup dropped their target price on Dropbox from $31.00 to $27.00 and set a "neutral" rating on the stock in a report on Friday, March 22nd. JPMorgan Chase & Co. downgraded Dropbox from an "overweight" rating to a "neutral" rating and decreased their price target for the company from $33.00 to $30.00 in a research note on Friday, February 16th. Finally, Bank of America cut Dropbox from a "buy" rating to an "underperform" rating and dropped their price objective for the stock from $34.00 to $28.00 in a research note on Friday, February 16th. Three analysts have rated the stock with a sell rating, four have issued a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $29.78.

Dropbox Price Performance

NASDAQ DBX traded down $0.07 on Monday, reaching $22.92. The stock had a trading volume of 3,213,121 shares, compared to its average volume of 4,009,868. Dropbox, Inc. has a 1-year low of $19.55 and a 1-year high of $33.43. The company has a market cap of $7.88 billion, a P/E ratio of 17.36, a price-to-earnings-growth ratio of 2.59 and a beta of 0.71. The firm has a fifty day moving average of $25.33 and a two-hundred day moving average of $27.55.

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