Empowered Funds LLC Raises Holdings in Dropbox, Inc. (NASDAQ:DBX)

Empowered Funds LLC boosted its holdings in Dropbox, Inc. (NASDAQ:DBX - Free Report) by 68.0% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 36,140 shares of the company's stock after purchasing an additional 14,629 shares during the period. Empowered Funds LLC's holdings in Dropbox were worth $1,086,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Capital Performance Advisors LLP purchased a new position in shares of Dropbox during the 3rd quarter valued at $28,000. V Square Quantitative Management LLC purchased a new position in shares of Dropbox during the 3rd quarter valued at $31,000. Fifth Third Bancorp lifted its position in shares of Dropbox by 35.6% during the 4th quarter. Fifth Third Bancorp now owns 1,798 shares of the company's stock valued at $54,000 after buying an additional 472 shares during the last quarter. Quarry LP lifted its position in shares of Dropbox by 23.4% during the 3rd quarter. Quarry LP now owns 2,424 shares of the company's stock valued at $62,000 after buying an additional 459 shares during the last quarter. Finally, Blue Trust Inc. lifted its position in shares of Dropbox by 383.4% during the 3rd quarter. Blue Trust Inc. now owns 2,934 shares of the company's stock valued at $75,000 after buying an additional 2,327 shares during the last quarter. Hedge funds and other institutional investors own 94.84% of the company's stock.

Dropbox Stock Down 2.4 %

Shares of NASDAQ:DBX traded down $0.79 during midday trading on Thursday, reaching $31.88. 6,633,820 shares of the company traded hands, compared to its average volume of 2,927,851. Dropbox, Inc. has a 12 month low of $20.68 and a 12 month high of $33.33. The firm has a market capitalization of $9.87 billion, a price-to-earnings ratio of 18.43, a price-to-earnings-growth ratio of 1.77 and a beta of 0.61. The firm's fifty day moving average price is $31.03 and its two-hundred day moving average price is $27.48.

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 analysts' consensus estimates of $0.62 by ($0.11). Dropbox had a net margin of 22.71% and a negative return on equity of 135.85%. Analysts forecast that Dropbox, Inc. will post 1.49 earnings per share for the current year.

Analyst Ratings Changes

Separately, Jefferies Financial Group boosted 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.

Insiders Place Their Bets

In other Dropbox news, CEO Andrew Houston sold 132,000 shares of the company's stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $28.12, for a total value of $3,711,840.00. Following the transaction, the chief executive officer now directly owns 8,266,666 shares in the company, valued at $232,458,647.92. This represents a 1.57 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Timothy Regan sold 10,000 shares of the company's stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $29.65, for a total value of $296,500.00. Following the completion of the transaction, the chief financial officer now owns 403,764 shares in the company, valued at $11,971,602.60. This represents a 2.42 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 900,238 shares of company stock worth $26,680,195 in the last ninety days. 28.59% of the stock is currently owned by 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.