Resona Asset Management Co. Ltd. Buys Shares of 13,697 Dropbox, Inc. (NASDAQ:DBX)

Resona Asset Management Co. Ltd. acquired a new stake in Dropbox, Inc. (NASDAQ:DBX - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund acquired 13,697 shares of the company's stock, valued at approximately $411,000.

Other hedge funds have also recently bought and sold shares of the company. EverSource Wealth Advisors LLC lifted its stake in Dropbox by 96.1% in the fourth quarter. EverSource Wealth Advisors LLC now owns 865 shares of the company's stock worth $26,000 after acquiring an additional 424 shares during the last quarter. Avion Wealth lifted its holdings in shares of Dropbox by 4,472.7% in the 4th quarter. Avion Wealth now owns 1,006 shares of the company's stock valued at $30,000 after purchasing an additional 984 shares during the last quarter. SBI Securities Co. Ltd. acquired a new stake in shares of Dropbox in the 4th quarter valued at about $40,000. Allworth Financial LP grew its stake in Dropbox by 33.5% during the 4th quarter. Allworth Financial LP now owns 1,456 shares of the company's stock worth $45,000 after buying an additional 365 shares during the last quarter. Finally, Huntington National Bank increased its position in Dropbox by 768.9% during the fourth quarter. Huntington National Bank now owns 1,538 shares of the company's stock worth $46,000 after buying an additional 1,361 shares during the period. Institutional investors and hedge funds own 94.84% of the company's stock.

Insider Transactions at Dropbox

In other news, CFO Timothy Regan sold 2,500 shares of Dropbox stock in a transaction that occurred on Friday, March 28th. The shares were sold at an average price of $26.57, for a total transaction of $66,425.00. Following the sale, the chief financial officer now owns 367,791 shares in the company, valued at $9,772,206.87. This trade represents a 0.68 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Andrew Houston sold 80,499 shares of the firm's stock in a transaction dated Tuesday, January 21st. The shares were sold at an average price of $30.97, for a total value of $2,493,054.03. Following the sale, the chief executive officer now owns 8,266,666 shares of the company's stock, valued at $256,018,646.02. This represents a 0.96 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 91,764 shares of company stock worth $2,819,399 over the last ninety days. 28.59% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Separately, Jefferies Financial Group upped their price target on shares of Dropbox from $27.00 to $30.00 and gave the company a "hold" rating in a research report on Monday, January 6th.

Dropbox Price Performance

Shares of DBX stock traded up $0.10 during mid-day trading on Thursday, hitting $26.93. The stock had a trading volume of 551,907 shares, compared to its average volume of 3,605,601. The company's 50-day simple moving average is $27.47 and its 200-day simple moving average is $28.22. Dropbox, Inc. has a fifty-two week low of $20.68 and a fifty-two week high of $33.33. The firm has a market cap of $8.13 billion, a PE ratio of 19.11, a PEG ratio of 1.70 and a beta of 0.75.

Dropbox (NASDAQ:DBX - Get Free Report) last posted its earnings results on Thursday, February 20th. The company reported $0.51 EPS for the quarter, missing analysts' consensus estimates of $0.62 by ($0.11). The firm had revenue of $643.60 million for the quarter, compared to analysts' expectations of $638.61 million. Dropbox had a negative return on equity of 132.63% and a net margin of 17.75%. On average, analysts expect 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.