Dropbox, Inc. (NASDAQ:DBX) Shares Bought by Connor Clark & Lunn Investment Management Ltd.

Connor Clark & Lunn Investment Management Ltd. increased its stake in shares of Dropbox, Inc. (NASDAQ:DBX - Free Report) by 20.7% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 537,875 shares of the company's stock after acquiring an additional 92,139 shares during the period. Connor Clark & Lunn Investment Management Ltd. owned about 0.17% of Dropbox worth $16,158,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently bought and sold shares of DBX. Venturi Wealth Management LLC grew its holdings in Dropbox by 43.0% during the third quarter. Venturi Wealth Management LLC now owns 3,818 shares of the company's stock worth $97,000 after acquiring an additional 1,149 shares during the period. Versor Investments LP boosted its position in Dropbox by 26.6% during the third quarter. Versor Investments LP now owns 14,289 shares of the company's stock worth $363,000 after purchasing an additional 3,000 shares in the last quarter. OVERSEA CHINESE BANKING Corp Ltd purchased a new position in Dropbox during the third quarter worth approximately $517,000. Sumitomo Mitsui Trust Group Inc. boosted its position in Dropbox by 4.9% during the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 38,512 shares of the company's stock worth $979,000 after purchasing an additional 1,800 shares in the last quarter. Finally, Aigen Investment Management LP purchased a new position in Dropbox during the third quarter worth approximately $482,000. 94.84% of the stock is owned by institutional investors and hedge funds.

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Insider Activity

In related news, CFO Timothy Regan sold 2,500 shares of Dropbox stock in a transaction that occurred on Friday, February 7th. The stock was sold at an average price of $32.19, for a total transaction of $80,475.00. Following the transaction, the chief financial officer now owns 396,264 shares in the company, valued at approximately $12,755,738.16. This trade represents a 0.63 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Eric Cox sold 3,765 shares of Dropbox 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 transaction, the insider now owns 309,550 shares in the company, valued at approximately $8,141,165. The trade was a 1.20 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 634,504 shares of company stock worth $18,935,530 over the last quarter. 28.59% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

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 report on Monday, January 6th.

Dropbox Price Performance

DBX stock traded up $1.07 during mid-day trading on Friday, reaching $25.62. 3,736,357 shares of the company's stock were exchanged, compared to its average volume of 3,416,287. The company has a market cap of $7.73 billion, a price-to-earnings ratio of 18.17, a price-to-earnings-growth ratio of 1.70 and a beta of 0.77. The stock's 50 day moving average is $29.68 and its 200 day moving average is $27.91. Dropbox, Inc. has a 12-month low of $20.68 and a 12-month high of $33.33.

Dropbox (NASDAQ:DBX - Get Free Report) last released its earnings results 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 firm had revenue of $643.60 million during the quarter, compared to analysts' expectations of $638.61 million. Dropbox had a net margin of 17.75% and a negative return on equity of 132.63%. On average, research analysts forecast that Dropbox, Inc. will post 1.64 earnings per share for the current fiscal 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.