Connor Clark & Lunn Investment Management Ltd. lifted its holdings in Dropbox, Inc. (NASDAQ:DBX - Free Report) by 20.7% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 537,875 shares of the company's stock after buying an additional 92,139 shares during the quarter. Connor Clark & Lunn Investment Management Ltd. owned approximately 0.17% of Dropbox worth $16,158,000 as of its most recent filing with the SEC.
A number of other large investors also recently modified their holdings of DBX. Venturi Wealth Management LLC raised its holdings in shares of Dropbox by 43.0% in the 3rd quarter. Venturi Wealth Management LLC now owns 3,818 shares of the company's stock worth $97,000 after purchasing an additional 1,149 shares in the last quarter. Versor Investments LP grew its position in Dropbox by 26.6% in the third quarter. Versor Investments LP now owns 14,289 shares of the company's stock worth $363,000 after acquiring an additional 3,000 shares in the last quarter. OVERSEA CHINESE BANKING Corp Ltd bought a new stake in Dropbox in the third quarter worth approximately $517,000. Sumitomo Mitsui Trust Group Inc. boosted its holdings in shares of Dropbox by 4.9% during the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 38,512 shares of the company's stock worth $979,000 after buying an additional 1,800 shares during the period. Finally, Aigen Investment Management LP bought a new stake in shares of Dropbox during the 3rd quarter worth $482,000. 94.84% of the stock is currently owned by institutional investors.
Insider Activity
In other Dropbox news, CEO Andrew Houston sold 500,323 shares of the firm's stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $29.65, for a total transaction of $14,834,576.95. Following the sale, the chief executive officer now directly owns 8,266,666 shares in the company, valued at approximately $245,106,646.90. This trade represents a 5.71 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Eric Cox sold 3,765 shares of the firm'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 transaction of $99,019.50. Following the sale, the insider now owns 309,550 shares in the company, valued at $8,141,165. This trade represents a 1.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 634,504 shares of company stock valued at $18,935,530. 28.59% of the stock is currently owned by insiders.
Dropbox Price Performance
Shares of DBX traded up $1.07 during trading hours on Friday, hitting $25.62. The stock had a trading volume of 3,736,357 shares, compared to its average volume of 3,442,220. The company's fifty day moving average is $29.68 and its two-hundred day moving average is $27.86. Dropbox, Inc. has a 52 week low of $20.68 and a 52 week high of $33.33. The stock has a market capitalization of $7.73 billion, a price-to-earnings ratio of 18.17, a P/E/G ratio of 1.70 and a beta of 0.77.
Dropbox (NASDAQ:DBX - Get Free Report) last posted 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). Dropbox had a negative return on equity of 132.63% and a net margin of 17.75%. The firm had revenue of $643.60 million during the quarter, compared to the consensus estimate of $638.61 million. Equities analysts predict that Dropbox, Inc. will post 1.64 EPS for the current fiscal year.
Analyst Ratings Changes
Separately, Jefferies Financial Group upped their target price on shares of Dropbox from $27.00 to $30.00 and gave the company a "hold" rating in a research note on Monday, January 6th.
View Our Latest Analysis on DBX
About Dropbox
(
Free Report)
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.
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