Brandywine Global Investment Management LLC acquired a new position in shares of Dropbox, Inc. (NASDAQ:DBX - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 136,660 shares of the company's stock, valued at approximately $4,105,000.
Several other large investors also recently made changes to their positions in the company. EverSource Wealth Advisors LLC increased its stake in Dropbox by 96.1% during 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 in the last quarter. Avion Wealth lifted its position in Dropbox by 4,472.7% in the 4th quarter. Avion Wealth now owns 1,006 shares of the company's stock valued at $30,000 after acquiring an additional 984 shares in the last quarter. SBI Securities Co. Ltd. acquired a new position in Dropbox during the 4th quarter valued at about $40,000. Allworth Financial LP increased its holdings in Dropbox by 33.5% during the 4th quarter. Allworth Financial LP now owns 1,456 shares of the company's stock worth $45,000 after purchasing an additional 365 shares in the last quarter. Finally, V Square Quantitative Management LLC lifted its holdings in shares of Dropbox by 39.0% in the fourth quarter. V Square Quantitative Management LLC now owns 1,717 shares of the company's stock valued at $52,000 after purchasing an additional 482 shares in the last quarter. 94.84% of the stock is currently owned by institutional investors and hedge funds.
Analysts Set New Price Targets
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.
View Our Latest Stock Report on Dropbox
Dropbox Stock Down 5.1 %
DBX stock traded down $1.38 during trading on Friday, reaching $25.45. The stock had a trading volume of 5,351,199 shares, compared to its average volume of 3,571,323. Dropbox, Inc. has a one year low of $20.68 and a one year high of $33.33. The company's 50 day moving average is $28.71 and its two-hundred day moving average is $28.11. The company has a market capitalization of $7.68 billion, a price-to-earnings 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 released its earnings results on Thursday, February 20th. The company reported $0.51 earnings per share (EPS) 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 the consensus estimate of $638.61 million. Dropbox had a net margin of 17.75% and a negative return on equity of 132.63%. As a group, research analysts predict that Dropbox, Inc. will post 1.64 earnings per share for the current fiscal year.
Insider Transactions at Dropbox
In other news, CFO Timothy Regan sold 2,500 shares of the firm's stock in a transaction that occurred on Friday, March 28th. The shares were sold at an average price of $26.57, for a total transaction of $66,425.00. Following the completion of the sale, the chief financial officer now owns 367,791 shares in the company, valued at $9,772,206.87. This trade represents a 0.68 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Eric Cox sold 3,765 shares of the 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 transaction, the insider now directly owns 309,550 shares of the company's stock, valued at approximately $8,141,165. This trade represents a 1.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 124,181 shares of company stock worth $3,794,928 in the last ninety days. Company insiders own 28.59% of the company's stock.
Dropbox Company Profile
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Free Report)
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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