Northern Trust Corp Has $64.69 Million Position in Dropbox, Inc. (NASDAQ:DBX)

Northern Trust Corp lifted its position in Dropbox, Inc. (NASDAQ:DBX - Free Report) by 20.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,153,303 shares of the company's stock after buying an additional 372,701 shares during the period. Northern Trust Corp owned about 0.70% of Dropbox worth $64,685,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in the business. LSV Asset Management increased its holdings in shares of Dropbox by 24.0% in the fourth quarter. LSV Asset Management now owns 6,446,121 shares of the company's stock worth $193,641,000 after acquiring an additional 1,245,563 shares in the last quarter. Arrowstreet Capital Limited Partnership increased its stake in Dropbox by 38.1% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 5,224,864 shares of the company's stock worth $156,955,000 after purchasing an additional 1,440,887 shares in the last quarter. Charles Schwab Investment Management Inc. raised its holdings in Dropbox by 4.2% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,914,005 shares of the company's stock worth $87,537,000 after buying an additional 117,767 shares during the period. Dimensional Fund Advisors LP lifted its stake in Dropbox by 3.2% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,646,502 shares of the company's stock valued at $79,505,000 after buying an additional 82,284 shares in the last quarter. Finally, First Trust Advisors LP boosted its holdings in shares of Dropbox by 12.2% in the fourth quarter. First Trust Advisors LP now owns 2,415,093 shares of the company's stock valued at $72,549,000 after buying an additional 262,871 shares during the period. Institutional investors and hedge funds own 94.84% of the company's stock.

Insider Activity at Dropbox

In other news, insider Eric Cox sold 3,765 shares of Dropbox stock in a transaction dated Thursday, February 27th. The shares were sold at an average price of $26.30, for a total value of $99,019.50. Following the completion of the transaction, the insider now owns 309,550 shares of the company's stock, valued at $8,141,165. This trade represents a 1.20% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Timothy Regan sold 2,500 shares of the company's stock in a transaction dated Friday, March 28th. The shares were sold at an average price of $26.57, for a total transaction of $66,425.00. Following the completion of the sale, the chief financial officer now directly owns 367,791 shares in the company, valued at approximately $9,772,206.87. The trade was a 0.68% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 11,265 shares of company stock valued at $303,520. Insiders own 29.95% of the company's stock.

Wall Street Analysts Forecast Growth

DBX has been the topic of a number of research analyst reports. UBS Group raised their price objective on shares of Dropbox from $30.00 to $31.00 and gave the stock a "buy" rating in a report on Friday. Citigroup lifted their price target on Dropbox from $30.00 to $32.00 and gave the company a "neutral" rating in a research note on Friday.

Dropbox Trading Up 0.4%

Shares of NASDAQ DBX traded up $0.12 during midday trading on Monday, reaching $29.58. The company's stock had a trading volume of 451,671 shares, compared to its average volume of 3,594,941. The stock has a 50 day simple moving average of $27.08 and a 200-day simple moving average of $28.56. The stock has a market capitalization of $8.93 billion, a price-to-earnings ratio of 20.96, a PEG ratio of 1.70 and a beta of 0.68. Dropbox, Inc. has a fifty-two week low of $20.68 and a fifty-two week high of $33.33.

Dropbox (NASDAQ:DBX - Get Free Report) last issued its quarterly earnings results on Thursday, May 8th. The company reported $0.70 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.62 by $0.08. Dropbox had a net margin of 17.75% and a negative return on equity of 132.63%. The firm had revenue of $624.70 million for the quarter, compared to analyst estimates of $619.56 million. During the same period in the previous year, the business earned $0.58 EPS. The company's revenue was down 1.0% compared to the same quarter last year. As a group, equities analysts anticipate that Dropbox, Inc. will post 1.64 EPS for the current 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.