Quantinno Capital Management LP Buys 103,392 Shares of Dropbox, Inc. (NASDAQ:DBX)

Quantinno Capital Management LP increased its holdings in shares of Dropbox, Inc. (NASDAQ:DBX - Free Report) by 34.2% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 406,076 shares of the company's stock after buying an additional 103,392 shares during the period. Quantinno Capital Management LP owned about 0.13% of Dropbox worth $12,199,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in DBX. LSV Asset Management lifted its position in shares of Dropbox by 24.0% in the 4th quarter. LSV Asset Management now owns 6,446,121 shares of the company's stock worth $193,641,000 after purchasing an additional 1,245,563 shares during the period. Arrowstreet Capital Limited Partnership lifted its position in shares of Dropbox by 38.1% in 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 during the period. AQR Capital Management LLC lifted its position in shares of Dropbox by 3.0% in the 4th quarter. AQR Capital Management LLC now owns 3,332,516 shares of the company's stock worth $99,842,000 after purchasing an additional 97,551 shares during the period. Charles Schwab Investment Management Inc. lifted its position in shares of Dropbox by 4.2% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,914,005 shares of the company's stock worth $87,537,000 after purchasing an additional 117,767 shares during the period. Finally, Dimensional Fund Advisors LP lifted its position in shares of Dropbox by 3.2% in the 4th quarter. Dimensional Fund Advisors LP now owns 2,646,502 shares of the company's stock worth $79,505,000 after purchasing an additional 82,284 shares during the period. 94.84% of the stock is currently owned by institutional investors and hedge funds.

Dropbox Price Performance

Shares of NASDAQ:DBX traded down $0.55 during mid-day trading on Friday, hitting $28.91. The company had a trading volume of 6,112,663 shares, compared to its average volume of 3,611,552. The firm has a fifty day moving average price of $27.43 and a 200 day moving average price of $28.66. The company has a market capitalization of $8.14 billion, a PE ratio of 20.50, a price-to-earnings-growth ratio of 1.70 and a beta of 0.68. Dropbox, Inc. has a one year low of $20.68 and a one year high of $33.33.

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

Analyst Upgrades and Downgrades

DBX has been the topic of a number of recent analyst reports. UBS Group boosted their price target 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 boosted their price target 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.

Insider Buying and Selling

In other news, CFO Timothy Regan sold 2,500 shares of the stock in a transaction dated Tuesday, April 15th. The shares were sold at an average price of $26.94, for a total value of $67,350.00. Following the sale, the chief financial officer now directly owns 565,068 shares of the company's stock, valued at approximately $15,222,931.92. This represents a 0.44% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Eric Cox sold 3,765 shares of the stock in a transaction dated Thursday, February 27th. The stock was sold at an average price of $26.30, for a total transaction of $99,019.50. Following the completion of the sale, the insider now directly owns 309,550 shares in the company, valued at approximately $8,141,165. The trade was a 1.20% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 11,265 shares of company stock valued at $303,520. 29.95% of the stock is owned by insiders.

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.