Arrowstreet Capital Limited Partnership Raises Stake in Dropbox, Inc. (NASDAQ:DBX)

Arrowstreet Capital Limited Partnership raised its position in Dropbox, Inc. (NASDAQ:DBX - Free Report) by 38.1% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 5,224,864 shares of the company's stock after acquiring an additional 1,440,887 shares during the period. Arrowstreet Capital Limited Partnership owned approximately 1.69% of Dropbox worth $156,955,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Orion Portfolio Solutions LLC increased its position in shares of Dropbox by 18.2% during the fourth quarter. Orion Portfolio Solutions LLC now owns 31,975 shares of the company's stock worth $961,000 after acquiring an additional 4,915 shares in the last quarter. denkapparat Operations GmbH bought a new stake in Dropbox during the 4th quarter worth approximately $284,000. Pictet Asset Management Holding SA raised its stake in shares of Dropbox by 10.5% in the fourth quarter. Pictet Asset Management Holding SA now owns 34,810 shares of the company's stock worth $1,046,000 after purchasing an additional 3,297 shares during the last quarter. New Age Alpha Advisors LLC bought a new position in shares of Dropbox in the fourth quarter valued at approximately $1,578,000. Finally, Norges Bank purchased a new position in shares of Dropbox during the fourth quarter valued at approximately $20,482,000. Institutional investors own 94.84% of the company's stock.

Analyst Ratings Changes

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

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Dropbox Stock Performance

Shares of Dropbox stock traded down $1.38 during mid-day trading on Friday, hitting $25.45. 5,351,199 shares of the stock were exchanged, compared to its average volume of 3,569,556. Dropbox, Inc. has a 12 month low of $20.68 and a 12 month high of $33.33. The company has a 50-day simple moving average of $28.59 and a 200 day simple moving average of $28.12. The company has a market capitalization of $7.68 billion, a P/E ratio of 18.05, a P/E/G ratio of 1.70 and a beta of 0.75.

Dropbox (NASDAQ:DBX - Get Free Report) last posted its quarterly earnings data on Thursday, February 20th. The company reported $0.51 earnings per share for the quarter, missing the consensus estimate of $0.62 by ($0.11). The business had revenue of $643.60 million during 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%. Analysts predict that Dropbox, Inc. will post 1.64 EPS for the current year.

Insider Buying and Selling

In other news, CFO Timothy Regan sold 2,500 shares of the stock in a transaction on Friday, March 28th. The stock was sold at an average price of $26.57, for a total transaction of $66,425.00. Following the completion of the transaction, the chief financial officer now owns 367,791 shares in the company, valued at approximately $9,772,206.87. This represents a 0.68 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Andrew Houston sold 80,499 shares of the business'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 completion of the sale, the chief executive officer now owns 8,266,666 shares in the company, 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. Over the last 90 days, insiders sold 124,181 shares of company stock worth $3,794,928. Insiders own 28.59% of the company's stock.

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.