AGF Management Ltd. Acquires Shares of 99,550 Dropbox, Inc. (NASDAQ:DBX)

AGF Management Ltd. purchased a new stake in Dropbox, Inc. (NASDAQ:DBX - Free Report) in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund purchased 99,550 shares of the company's stock, valued at approximately $2,935,000.

Several other institutional investors have also recently made changes to their positions in DBX. Jacobs Levy Equity Management Inc. increased its position in shares of Dropbox by 5.4% during the third quarter. Jacobs Levy Equity Management Inc. now owns 4,418,927 shares of the company's stock worth $120,327,000 after acquiring an additional 227,633 shares in the last quarter. LSV Asset Management grew its position in shares of Dropbox by 119.4% during the 4th quarter. LSV Asset Management now owns 3,305,730 shares of the company's stock valued at $97,453,000 after purchasing an additional 1,799,030 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its position in shares of Dropbox by 3.4% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,990,186 shares of the company's stock valued at $88,151,000 after acquiring an additional 98,568 shares during the last quarter. Nordea Investment Management AB grew its stake in Dropbox by 3.8% in the 4th quarter. Nordea Investment Management AB now owns 2,228,624 shares of the company's stock worth $65,934,000 after buying an additional 81,729 shares in the last quarter. Finally, DekaBank Deutsche Girozentrale increased its stake in Dropbox by 65.8% in the fourth quarter. DekaBank Deutsche Girozentrale now owns 2,189,593 shares of the company's stock valued at $64,825,000 after acquiring an additional 869,043 shares during the last quarter. Institutional investors and hedge funds own 94.84% of the company's stock.

Insider Activity

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 transaction of $3,913,040.00. Following the completion of the sale, the chief executive officer now owns 8,266,666 shares of the company's stock, valued at $197,242,650.76. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Dropbox news, CEO Andrew Houston sold 164,000 shares of the stock in a transaction dated Tuesday, March 5th. The shares were sold at an average price of $23.86, for a total transaction of $3,913,040.00. Following the transaction, the chief executive officer now directly owns 8,266,666 shares in the company, valued at approximately $197,242,650.76. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Timothy Regan sold 3,000 shares of the business's stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $24.02, for a total transaction of $72,060.00. Following the completion of the sale, the chief financial officer now owns 403,720 shares of the company's stock, valued at approximately $9,697,354.40. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 271,721 shares of company stock valued at $6,443,955. 26.40% of the stock is currently owned by company insiders.

Analyst Ratings Changes

DBX has been the subject of several recent research reports. The Goldman Sachs Group downgraded Dropbox from a "neutral" rating to a "sell" rating and lowered their price objective for the company from $26.00 to $24.00 in a research report on Friday, February 16th. KeyCorp increased their target price on Dropbox from $32.00 to $37.00 and gave the stock an "overweight" rating in a research report on Friday, January 19th. Bank of America lowered Dropbox from a "buy" rating to an "underperform" rating and lowered their price objective for the company from $34.00 to $28.00 in a research report on Friday, February 16th. Citigroup cut their price target on Dropbox from $31.00 to $27.00 and set a "neutral" rating on the stock in a research note on Friday, March 22nd. Finally, JMP Securities cut Dropbox from an "outperform" rating to a "market perform" rating in a research note on Friday, February 16th. Three research analysts have rated the stock with a sell rating, four have assigned a hold rating and three have assigned a buy rating to the company's stock. According to data from MarketBeat, Dropbox presently has an average rating of "Hold" and a consensus price target of $29.78.

Dropbox Stock Up 1.0 %

NASDAQ:DBX traded up $0.23 during mid-day trading on Tuesday, hitting $24.02. 3,206,615 shares of the stock traded hands, compared to its average volume of 3,955,953. The stock has a market capitalization of $8.26 billion, a price-to-earnings ratio of 15.87, a PEG ratio of 2.60 and a beta of 0.70. Dropbox, Inc. has a 52 week low of $21.72 and a 52 week high of $33.43. The firm's 50 day moving average is $23.70 and its two-hundred day moving average is $27.00.

Dropbox (NASDAQ:DBX - Get Free Report) last issued its quarterly earnings results on Thursday, May 9th. The company reported $0.41 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.28 by $0.13. Dropbox had a negative return on equity of 148.13% and a net margin of 20.50%. The firm had revenue of $631.30 million during the quarter, compared to analyst estimates of $628.81 million. As a group, research analysts predict that Dropbox, Inc. will post 1.14 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.