Russell Investments Group Ltd. Buys 114,646 Shares of Dropbox, Inc. (NASDAQ:DBX)

Russell Investments Group Ltd. boosted its holdings in shares of Dropbox, Inc. (NASDAQ:DBX - Free Report) by 5.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,410,194 shares of the company's stock after acquiring an additional 114,646 shares during the quarter. Russell Investments Group Ltd. owned about 0.78% of Dropbox worth $72,526,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. EverSource Wealth Advisors LLC increased its position in shares of Dropbox by 96.1% in 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 during the last quarter. Avion Wealth boosted its holdings in shares of Dropbox by 4,472.7% in the fourth 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. purchased a new stake in shares of Dropbox in the fourth quarter valued at approximately $40,000. Allworth Financial LP boosted its position in shares of 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, Huntington National Bank lifted its position in shares of Dropbox by 768.9% during the 4th quarter. Huntington National Bank now owns 1,538 shares of the company's stock valued at $46,000 after acquiring an additional 1,361 shares during the period. 94.84% of the stock is currently owned by institutional investors and hedge funds.

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Dropbox Stock Performance

Shares of DBX traded down $0.08 during mid-day trading on Friday, reaching $27.00. 1,563,717 shares of the company's stock traded hands, compared to its average volume of 3,600,446. Dropbox, Inc. has a 12 month low of $20.68 and a 12 month high of $33.33. The business's 50-day moving average price is $27.90 and its 200-day moving average price is $28.19. The stock has a market capitalization of $8.15 billion, a P/E ratio of 19.09, a price-to-earnings-growth ratio of 1.70 and a beta of 0.75.

Dropbox (NASDAQ:DBX - Get Free Report) last released 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 company had revenue of $643.60 million for the quarter, compared to the consensus estimate of $638.61 million. Dropbox had a negative return on equity of 132.63% and a net margin of 17.75%. Equities research analysts anticipate that Dropbox, Inc. will post 1.64 EPS for the current year.

Wall Street Analyst Weigh In

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

Insider Activity

In related news, CFO Timothy Regan sold 2,500 shares of the company's stock in a transaction on Wednesday, January 15th. The shares were sold at an average price of $30.37, for a total value of $75,925.00. Following the completion of the sale, the chief financial officer now owns 401,264 shares in the company, valued at $12,186,387.68. This represents a 0.62 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Andrew Houston sold 80,499 shares of the firm's stock in a transaction that occurred on Tuesday, January 21st. The stock was sold at an average price of $30.97, for a total transaction of $2,493,054.03. Following the sale, the chief executive officer now owns 8,266,666 shares in the company, valued at $256,018,646.02. This trade represents a 0.96 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 94,264 shares of company stock worth $2,895,324. 28.59% of the stock is owned by corporate insiders.

Dropbox 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.