Headlands Technologies LLC Purchases 35,005 Shares of Dropbox, Inc. (NASDAQ:DBX)

Headlands Technologies LLC increased its stake in shares of Dropbox, Inc. (NASDAQ:DBX - Free Report) by 92.6% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 72,805 shares of the company's stock after acquiring an additional 35,005 shares during the period. Headlands Technologies LLC's holdings in Dropbox were worth $2,187,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of DBX. Jacobs Levy Equity Management Inc. increased its stake 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 purchasing an additional 365,893 shares during the last quarter. Arrowstreet Capital Limited Partnership increased its position in 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 buying an additional 1,440,887 shares during the last quarter. Geode Capital Management LLC raised its stake in Dropbox by 0.6% in the third quarter. Geode Capital Management LLC now owns 4,366,271 shares of the company's stock valued at $111,368,000 after buying an additional 25,893 shares during the period. Charles Schwab Investment Management Inc. lifted its position in shares of Dropbox by 4.2% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,914,005 shares of the company's stock valued at $87,537,000 after buying an additional 117,767 shares during the last quarter. Finally, Retirement Systems of Alabama boosted its stake in shares of Dropbox by 15.2% during the 3rd 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 period. 94.84% of the stock is owned by institutional investors and hedge funds.

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Insiders Place Their Bets

In related news, 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 transaction of $99,019.50. Following the transaction, the insider now directly owns 309,550 shares of the company's stock, valued at $8,141,165. This 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 can be accessed through the SEC website. Also, CFO Timothy Regan sold 2,500 shares of the company's stock in a transaction that occurred on Friday, March 28th. The stock was sold at an average price of $26.57, for a total value of $66,425.00. Following the transaction, the chief financial officer now directly owns 367,791 shares in the company, valued at $9,772,206.87. The trade was a 0.68 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 124,181 shares of company stock valued at $3,794,928. 28.59% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

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 note on Monday, January 6th.

Dropbox Trading Down 5.1 %

DBX stock traded down $1.38 during mid-day trading on Friday, hitting $25.45. 5,351,199 shares of the company were exchanged, 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 price-to-earnings-growth ratio of 1.70 and a beta of 0.75. The business has a 50 day simple moving average of $28.71 and a 200-day simple moving average of $28.11.

Dropbox (NASDAQ:DBX - Get Free Report) last released its quarterly 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). Dropbox had a net margin of 17.75% and a negative return on equity of 132.63%. The firm had revenue of $643.60 million during the quarter, compared to the consensus estimate of $638.61 million. Equities research analysts expect 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.