Diametric Capital LP Makes New $313,000 Investment in Dropbox, Inc. (NASDAQ:DBX)

Diametric Capital LP purchased a new stake in Dropbox, Inc. (NASDAQ:DBX - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 10,420 shares of the company's stock, valued at approximately $313,000.

Several other hedge funds and other institutional investors have also made changes to their positions in DBX. Arrowstreet Capital Limited Partnership grew its stake in shares of Dropbox by 38.1% during the fourth 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 in the last quarter. KLP Kapitalforvaltning AS acquired a new position in shares of Dropbox during the 4th quarter worth about $25,375,000. Norges Bank acquired a new position in shares of Dropbox during the 4th quarter worth about $20,482,000. Caisse DE Depot ET Placement DU Quebec purchased a new position in shares of Dropbox in the 3rd quarter valued at about $11,687,000. Finally, Jacobs Levy Equity Management Inc. raised its position in shares of Dropbox by 6.2% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 6,239,493 shares of the company's stock worth $158,670,000 after acquiring an additional 365,893 shares in the last quarter. Hedge funds and other institutional investors own 94.84% of the company's stock.

Wall Street Analysts Forecast Growth

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

Remove Ads

Dropbox Stock Down 5.1 %

DBX traded down $1.38 on Friday, reaching $25.45. The company had a trading volume of 5,351,199 shares, compared to its average volume of 3,571,323. Dropbox, Inc. has a 1 year low of $20.68 and a 1 year high of $33.33. The stock has a market capitalization of $7.68 billion, a PE ratio of 18.05, a P/E/G ratio of 1.70 and a beta of 0.75. The stock has a 50-day moving average price of $28.71 and a 200-day moving average price of $28.11.

Dropbox (NASDAQ:DBX - Get Free Report) last posted its 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). The firm 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 expect that Dropbox, Inc. will post 1.64 earnings per share for the current fiscal year.

Insider Buying and Selling at Dropbox

In related news, insider Eric Cox sold 3,765 shares of the firm's stock in a transaction dated Thursday, February 27th. The stock was sold at an average price of $26.30, for a total transaction of $99,019.50. Following the transaction, 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 transaction was disclosed in a filing with the SEC, which is available through this link. Also, CFO Timothy Regan sold 2,500 shares of the stock in a transaction that occurred on Wednesday, January 15th. The stock was sold at an average price of $30.37, for a total value of $75,925.00. Following the sale, the chief financial officer now directly owns 401,264 shares of the company's stock, valued at $12,186,387.68. The trade was a 0.62 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 124,181 shares of company stock worth $3,794,928. 28.59% of the stock is owned by 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.