Charles Schwab Investment Management Inc. Raises Position in Dropbox, Inc. (NASDAQ:DBX)

Charles Schwab Investment Management Inc. increased its holdings in Dropbox, Inc. (NASDAQ:DBX - Free Report) by 4.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,914,005 shares of the company's stock after acquiring an additional 117,767 shares during the period. Charles Schwab Investment Management Inc. owned about 0.94% of Dropbox worth $87,537,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. SBI Securities Co. Ltd. bought a new stake in Dropbox in the fourth quarter worth about $40,000. Fisher Asset Management LLC lifted its stake in Dropbox by 26.6% in the fourth quarter. Fisher Asset Management LLC now owns 196,406 shares of the company's stock valued at $5,900,000 after purchasing an additional 41,275 shares during the last quarter. SVB Wealth LLC bought a new position in Dropbox during the fourth quarter valued at $230,000. Proficio Capital Partners LLC purchased a new stake in Dropbox in the fourth quarter worth $511,000. Finally, Illinois Municipal Retirement Fund increased its position in Dropbox by 19.1% in the fourth quarter. Illinois Municipal Retirement Fund now owns 180,723 shares of the company's stock worth $5,429,000 after buying an additional 28,923 shares during the last quarter. 94.84% of the stock is owned by institutional investors.

Dropbox Stock Up 4.4 %

DBX traded up $1.07 on Friday, hitting $25.62. The company's stock had a trading volume of 3,736,357 shares, compared to its average volume of 3,446,753. Dropbox, Inc. has a 12 month low of $20.68 and a 12 month high of $33.33. The firm has a market cap of $7.73 billion, a P/E ratio of 18.17, a price-to-earnings-growth ratio of 1.70 and a beta of 0.77. The company's 50 day simple moving average is $29.77 and its 200-day simple moving average is $27.85.

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

Wall Street Analyst Weigh In

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 research note on Monday, January 6th.

Insiders Place Their Bets

In related news, CFO Timothy Regan sold 2,500 shares of the company's stock in a transaction that occurred on Monday, December 30th. The shares were sold at an average price of $30.38, for a total value of $75,950.00. Following the transaction, the chief financial officer now directly owns 413,764 shares in the company, valued at approximately $12,570,150.32. This represents a 0.60 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Eric Cox sold 3,765 shares of Dropbox stock in a transaction that occurred on Thursday, February 27th. The shares were sold at an average price of $26.30, for a total transaction of $99,019.50. Following the sale, the insider now owns 309,550 shares of the company's stock, valued at approximately $8,141,165. The trade was a 1.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 634,504 shares of company stock worth $18,935,530 in the last three months. 28.59% of the stock is currently owned by corporate insiders.

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.