30,681 Shares in Dropbox, Inc. (NASDAQ:DBX) Purchased by Bryce Point Capital LLC

Bryce Point Capital LLC acquired a new position in shares of Dropbox, Inc. (NASDAQ:DBX - Free Report) in the fourth quarter, according to the company in its most recent filing with the SEC. The firm acquired 30,681 shares of the company's stock, valued at approximately $922,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Arrowstreet Capital Limited Partnership lifted its stake in shares of Dropbox by 38.1% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 5,224,864 shares of the company's stock worth $156,955,000 after purchasing an additional 1,440,887 shares during the period. Geode Capital Management LLC increased its stake in shares of Dropbox by 0.6% during the 3rd quarter. Geode Capital Management LLC now owns 4,366,271 shares of the company's stock valued at $111,368,000 after acquiring an additional 25,893 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of Dropbox by 4.2% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,914,005 shares of the company's stock worth $87,537,000 after acquiring an additional 117,767 shares during the period. Retirement Systems of Alabama boosted its position in shares of 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 last quarter. Finally, Mitsubishi UFJ Trust & Banking Corp grew its holdings in Dropbox by 13.5% in the fourth quarter. Mitsubishi UFJ Trust & Banking Corp now owns 901,459 shares of the company's stock valued at $27,080,000 after purchasing an additional 107,460 shares during the period. Institutional investors and hedge funds own 94.84% of the company's stock.

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Insider Activity at Dropbox

In other Dropbox news, insider Eric Cox sold 3,765 shares of the stock in a transaction that occurred 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 completion of 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 ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Timothy Regan sold 2,500 shares of the business's stock in a transaction on Friday, February 7th. The stock was sold at an average price of $32.19, for a total transaction of $80,475.00. Following the transaction, the chief financial officer now directly owns 396,264 shares in the company, valued at approximately $12,755,738.16. The trade was a 0.63 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 94,264 shares of company stock worth $2,895,324. 28.59% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

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

Dropbox Trading Up 3.8 %

NASDAQ:DBX traded up $0.97 on Tuesday, hitting $26.43. 1,352,051 shares of the stock were exchanged, compared to its average volume of 3,571,174. The stock has a fifty day moving average of $28.46 and a 200-day moving average of $28.17. The stock has a market cap of $7.97 billion, a PE ratio of 18.78, a PEG ratio of 1.70 and a beta of 0.75. Dropbox, Inc. has a fifty-two week low of $20.68 and a fifty-two week high of $33.33.

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

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.