denkapparat Operations GmbH Buys New Holdings in Dropbox, Inc. (NASDAQ:DBX)

denkapparat Operations GmbH bought a new position in shares of Dropbox, Inc. (NASDAQ:DBX - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 9,446 shares of the company's stock, valued at approximately $284,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in DBX. Allworth Financial LP lifted 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 worth $45,000 after acquiring an additional 365 shares during the period. Heron Bay Capital Management increased its holdings in shares of Dropbox by 2.3% during the fourth quarter. Heron Bay Capital Management now owns 16,769 shares of the company's stock worth $504,000 after buying an additional 378 shares in the last quarter. EverSource Wealth Advisors LLC raised its position in Dropbox by 96.1% in the 4th quarter. EverSource Wealth Advisors LLC now owns 865 shares of the company's stock valued at $26,000 after purchasing an additional 424 shares during the last quarter. Quarry LP raised its holdings in shares of Dropbox by 23.4% in the third quarter. Quarry LP now owns 2,424 shares of the company's stock valued at $62,000 after buying an additional 459 shares during the last quarter. Finally, Aaron Wealth Advisors LLC lifted its position in shares of Dropbox by 4.8% during the fourth quarter. Aaron Wealth Advisors LLC now owns 10,151 shares of the company's stock worth $305,000 after purchasing an additional 461 shares in the last quarter. Institutional investors and hedge funds own 94.84% of the company's stock.

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Analysts Set New Price Targets

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

Dropbox Stock Up 1.2 %

Shares of DBX traded up $0.33 during trading hours on Tuesday, reaching $27.04. The stock had a trading volume of 1,294,700 shares, compared to its average volume of 3,542,642. The company has a market cap of $8.16 billion, a P/E ratio of 19.15, a P/E/G ratio of 1.70 and a beta of 0.77. The firm has a 50-day moving average of $28.95 and a 200 day moving average of $28.11. Dropbox, Inc. has a 52 week low of $20.68 and a 52 week high of $33.33.

Dropbox (NASDAQ:DBX - Get Free Report) last released 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 net margin of 17.75% and a negative return on equity of 132.63%. The company had revenue of $643.60 million during the quarter, compared to analyst estimates of $638.61 million. As a group, equities analysts expect that Dropbox, Inc. will post 1.64 earnings per share for the current year.

Insider Buying and Selling at Dropbox

In other news, CFO Timothy Regan sold 10,000 shares of the company's stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $29.65, for a total transaction of $296,500.00. Following the completion of the sale, the chief financial officer now owns 403,764 shares of the company's stock, valued at approximately $11,971,602.60. This represents a 2.42 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Andrew Houston sold 500,323 shares of Dropbox stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $29.65, for a total value of $14,834,576.95. Following the completion of the transaction, the chief executive officer now owns 8,266,666 shares in the company, valued at approximately $245,106,646.90. This represents a 5.71 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 632,004 shares of company stock worth $18,859,580 over the last 90 days. Company insiders own 28.59% of the company's stock.

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.