Dropbox, Inc. (NASDAQ:DBX) Shares Bought by Bridgewater Associates LP

Bridgewater Associates LP grew its position in shares of Dropbox, Inc. (NASDAQ:DBX - Free Report) by 39.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 981,914 shares of the company's stock after acquiring an additional 278,902 shares during the quarter. Bridgewater Associates LP owned 0.32% of Dropbox worth $29,497,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in DBX. HighTower Advisors LLC raised its stake in Dropbox by 68.2% in the 3rd quarter. HighTower Advisors LLC now owns 26,576 shares of the company's stock worth $683,000 after purchasing an additional 10,777 shares in the last quarter. Orion Portfolio Solutions LLC bought a new position in Dropbox in the 3rd quarter valued at approximately $688,000. M&T Bank Corp acquired a new position in shares of Dropbox during the third quarter worth $229,000. Geode Capital Management LLC increased its position in 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 purchasing an additional 25,893 shares during the period. Finally, Sanctuary Advisors LLC bought a new stake in Dropbox during the third quarter valued at $268,000. Institutional investors own 94.84% of the company's stock.

Insider Activity

In other Dropbox news, insider Eric Cox sold 3,765 shares of the company's stock in a transaction that occurred on Thursday, February 27th. The stock was sold at an average price of $26.30, for a total value of $99,019.50. Following the sale, the insider now owns 309,550 shares in the company, valued at approximately $8,141,165. This represents a 1.20 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Andrew Houston sold 80,499 shares of the firm's stock in a transaction dated Tuesday, January 21st. The shares were sold at an average price of $30.97, for a total transaction of $2,493,054.03. Following the completion of the transaction, the chief executive officer now directly owns 8,266,666 shares in the company, valued at $256,018,646.02. This represents a 0.96 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 94,264 shares of company stock worth $2,886,749 over the last 90 days. Corporate insiders own 28.59% of the company's stock.

Dropbox Price Performance

NASDAQ DBX traded up $0.28 on Friday, reaching $27.11. 2,779,080 shares of the company's stock traded hands, compared to its average volume of 3,616,254. The stock has a 50-day simple moving average of $27.37 and a 200 day simple moving average of $28.23. Dropbox, Inc. has a 12 month low of $20.68 and a 12 month high of $33.33. The stock has a market cap of $8.18 billion, a PE ratio of 19.23, a P/E/G 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 (EPS) for the quarter, missing the consensus estimate of $0.62 by ($0.11). The business had revenue of $643.60 million during the quarter, compared to the consensus estimate of $638.61 million. Dropbox had a net margin of 17.75% and a negative return on equity of 132.63%. As a group, analysts anticipate that Dropbox, Inc. will post 1.64 EPS for the current year.

Analyst Ratings Changes

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 report on Monday, January 6th.

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.