FCF Advisors LLC lifted its position in Dropbox, Inc. (NASDAQ:DBX – Free Report) by 15.0% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 47,246 shares of the company’s stock after buying an additional 6,160 shares during the quarter. FCF Advisors LLC’s holdings in Dropbox were worth $1,021,000 as of its most recent SEC filing.
A number of other institutional investors have also added to or reduced their stakes in the company. Baupost Group LLC MA lifted its position in shares of Dropbox by 30.6% in the first quarter. Baupost Group LLC MA now owns 10,571,046 shares of the company’s stock valued at $245,777,000 after buying an additional 2,476,021 shares during the last quarter. Geode Capital Management LLC boosted its position in Dropbox by 22.2% during the fourth quarter. Geode Capital Management LLC now owns 4,970,819 shares of the company’s stock worth $111,148,000 after purchasing an additional 901,437 shares during the period. UBS Asset Management Americas Inc. increased its holdings in shares of Dropbox by 29.0% in the third quarter. UBS Asset Management Americas Inc. now owns 4,727,563 shares of the company’s stock valued at $97,955,000 after purchasing an additional 1,063,628 shares during the last quarter. Thrivent Financial for Lutherans raised its position in shares of Dropbox by 0.7% in the fourth quarter. Thrivent Financial for Lutherans now owns 4,495,218 shares of the company’s stock valued at $100,603,000 after purchasing an additional 31,903 shares during the period. Finally, First Trust Advisors LP lifted its stake in shares of Dropbox by 10.0% during the 3rd quarter. First Trust Advisors LP now owns 4,071,039 shares of the company’s stock worth $84,351,000 after buying an additional 370,212 shares during the last quarter. 64.29% of the stock is currently owned by institutional investors and hedge funds.
Dropbox Stock Down 0.8 %
NASDAQ DBX traded down $0.22 on Thursday, hitting $26.50. The company’s stock had a trading volume of 475,333 shares, compared to its average volume of 3,776,415. The firm has a market cap of $9.27 billion, a PE ratio of 17.46, a PEG ratio of 2.08 and a beta of 0.83. The company’s 50-day moving average is $23.02 and its 200 day moving average is $22.35. Dropbox, Inc. has a 1-year low of $18.71 and a 1-year high of $26.78.
Dropbox (NASDAQ:DBX – Free Report) last issued its quarterly earnings results on Thursday, May 4th. The company reported $0.24 earnings per share for the quarter, beating the consensus estimate of $0.16 by $0.08. The company had revenue of $611.10 million during the quarter, compared to analysts’ expectations of $601.40 million. Dropbox had a negative return on equity of 68.16% and a net margin of 22.86%. On average, equities analysts expect that Dropbox, Inc. will post 1.01 EPS for the current year.
Insider Buying and Selling at Dropbox
In related news, CEO Andrew Houston sold 162,500 shares of the firm’s stock in a transaction that occurred on Tuesday, April 4th. The stock was sold at an average price of $21.31, for a total transaction of $3,462,875.00. Following the completion of the sale, the chief executive officer now owns 8,781,892 shares of the company’s stock, valued at $187,142,118.52. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, CEO Andrew Houston sold 162,500 shares of the stock in a transaction on Tuesday, April 4th. The shares were sold at an average price of $21.31, for a total transaction of $3,462,875.00. Following the transaction, the chief executive officer now directly owns 8,781,892 shares of the company’s stock, valued at $187,142,118.52. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Timothy Regan sold 2,585 shares of Dropbox stock in a transaction on Monday, June 26th. The shares were sold at an average price of $26.03, for a total transaction of $67,287.55. Following the completion of the sale, the chief financial officer now directly owns 628,868 shares of the company’s stock, valued at $16,369,434.04. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 713,707 shares of company stock valued at $17,200,132. 25.78% of the stock is currently owned by insiders.
Analyst Upgrades and Downgrades
DBX has been the topic of a number of research reports. Citigroup upped their price objective on Dropbox from $24.00 to $27.00 in a report on Wednesday, June 21st. The Goldman Sachs Group raised shares of Dropbox from a “sell” rating to a “neutral” rating and raised their price target for the stock from $22.00 to $25.00 in a research report on Monday, May 8th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $27.14.
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.