AlphaQuest LLC Boosts Stock Position in Dropbox, Inc. (NASDAQ:DBX)

AlphaQuest LLC increased its stake in shares of Dropbox, Inc. (NASDAQ:DBX - Free Report) by 114.0% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 22,064 shares of the company's stock after buying an additional 11,753 shares during the quarter. AlphaQuest LLC's holdings in Dropbox were worth $663,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in DBX. Aigen Investment Management LP purchased a new stake in shares of Dropbox in the 3rd quarter valued at approximately $482,000. Retirement Systems of Alabama grew its position in Dropbox by 15.2% in the third quarter. Retirement Systems of Alabama now owns 944,033 shares of the company's stock worth $24,007,000 after acquiring an additional 124,528 shares during the period. Charles Schwab Investment Management Inc. grew its position in Dropbox by 8.9% in the third quarter. Charles Schwab Investment Management Inc. now owns 2,796,238 shares of the company's stock worth $71,108,000 after acquiring an additional 228,685 shares during the period. IVY Lane Capital Management LLC acquired a new stake in Dropbox during the third quarter worth $3,179,000. Finally, Landscape Capital Management L.L.C. purchased a new stake in Dropbox in the third quarter valued at $2,774,000. Institutional investors and hedge funds own 94.84% of the company's stock.

Insider Buying and Selling

In other Dropbox news, CFO Timothy Regan sold 2,500 shares of the business's stock in a transaction dated Friday, February 7th. The shares were sold at an average price of $32.19, for a total transaction of $80,475.00. Following the sale, the chief financial officer now directly owns 396,264 shares in the company, valued at $12,755,738.16. This represents a 0.63 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Andrew Houston sold 500,323 shares of the firm'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 $14,834,576.95. Following the completion of the transaction, the chief executive officer now directly owns 8,266,666 shares of the company's stock, valued at approximately $245,106,646.90. The trade was a 5.71 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 634,504 shares of company stock valued at $18,935,530. Corporate insiders own 28.59% of the company's stock.

Dropbox Stock Performance

Dropbox stock opened at $25.28 on Wednesday. The company has a market capitalization of $7.63 billion, a price-to-earnings ratio of 17.93, a price-to-earnings-growth ratio of 1.70 and a beta of 0.77. The company's 50 day simple moving average is $29.97 and its 200-day simple moving average is $27.89. Dropbox, Inc. has a 1 year low of $20.68 and a 1 year high of $33.33.

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Dropbox (NASDAQ:DBX - Get Free Report) last announced its earnings results on Thursday, February 20th. The company reported $0.51 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.62 by ($0.11). Dropbox had a net margin of 17.75% and a negative return on equity of 132.63%. The firm had revenue of $643.60 million during the quarter, compared to analysts' expectations of $638.61 million. Equities analysts expect that Dropbox, Inc. will post 1.64 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Separately, Jefferies Financial Group increased their price target on Dropbox from $27.00 to $30.00 and gave the stock a "hold" rating in a 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.

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