Zacks Investment Management Takes $5.08 Million Position in Dropbox, Inc. (NASDAQ:DBX)

Zacks Investment Management bought a new position in Dropbox, Inc. (NASDAQ:DBX - Free Report) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 168,995 shares of the company's stock, valued at approximately $5,077,000. Zacks Investment Management owned approximately 0.05% of Dropbox as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the company. Bessemer Group Inc. increased its stake in shares of Dropbox by 0.3% in the fourth quarter. Bessemer Group Inc. now owns 126,321 shares of the company's stock valued at $3,794,000 after buying an additional 333 shares in the last quarter. Allworth Financial LP grew its position in shares of Dropbox by 33.5% in the 4th quarter. Allworth Financial LP now owns 1,456 shares of the company's stock valued at $45,000 after purchasing an additional 365 shares during the period. Heron Bay Capital Management increased its holdings in Dropbox by 2.3% during the 4th quarter. Heron Bay Capital Management now owns 16,769 shares of the company's stock worth $504,000 after purchasing an additional 378 shares in the last quarter. EverSource Wealth Advisors LLC grew its stake in shares of Dropbox by 96.1% during the 4th quarter. EverSource Wealth Advisors LLC now owns 865 shares of the company's stock worth $26,000 after acquiring an additional 424 shares in the last quarter. Finally, Aaron Wealth Advisors LLC lifted its position in Dropbox by 4.8% during the 4th quarter. Aaron Wealth Advisors LLC now owns 10,151 shares of the company's stock worth $305,000 after buying an additional 461 shares in the last quarter. Hedge funds and other institutional investors own 94.84% of the company's stock.

Insider Activity at Dropbox

In other Dropbox news, insider Eric Cox sold 3,765 shares of the firm's stock in a transaction on Thursday, February 27th. The shares were sold at an average price of $26.30, for a total value of $99,019.50. Following the sale, 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 Securities & Exchange Commission, which is available at the SEC website. Also, CFO Timothy Regan sold 2,500 shares of the business's stock in a transaction dated Tuesday, April 15th. The shares were sold at an average price of $26.94, for a total transaction of $67,350.00. Following the transaction, the chief financial officer now owns 565,068 shares in the company, valued at $15,222,931.92. This represents a 0.44 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 13,765 shares of company stock worth $393,695. 28.59% of the stock is owned by company insiders.

Dropbox Stock Up 0.1 %

Shares of DBX stock traded up $0.03 during mid-day trading on Wednesday, reaching $27.41. 1,765,733 shares of the stock traded hands, compared to its average volume of 3,614,548. The stock's fifty day simple moving average is $27.07 and its two-hundred day simple moving average is $28.29. The company has a market cap of $8.27 billion, a price-to-earnings ratio of 19.44, a price-to-earnings-growth ratio of 1.70 and a beta of 0.75. Dropbox, Inc. has a 1-year low of $20.68 and a 1-year high of $33.33.

Dropbox (NASDAQ:DBX - Get Free Report) last announced its quarterly earnings data on Thursday, February 20th. The company reported $0.51 EPS for the quarter, missing the consensus estimate of $0.62 by ($0.11). Dropbox had a negative return on equity of 132.63% and a net margin of 17.75%. The company had revenue of $643.60 million for the quarter, compared to analyst estimates of $638.61 million. On average, equities research analysts anticipate that Dropbox, Inc. will post 1.64 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

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

Dropbox Company 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.