Vestcor Inc grew its holdings in Dropbox, Inc. (NASDAQ:DBX - Free Report) by 163.4% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 114,750 shares of the company's stock after purchasing an additional 71,178 shares during the period. Vestcor Inc's holdings in Dropbox were worth $3,447,000 as of its most recent SEC filing.
Other large investors also recently made changes to their positions in the company. Connor Clark & Lunn Investment Management Ltd. increased its holdings in Dropbox by 20.7% in the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 537,875 shares of the company's stock worth $16,158,000 after buying an additional 92,139 shares during the last quarter. EverSource Wealth Advisors LLC increased its holdings in Dropbox by 96.1% in the fourth quarter. EverSource Wealth Advisors LLC now owns 865 shares of the company's stock worth $26,000 after buying an additional 424 shares during the last quarter. HighTower Advisors LLC increased its holdings in Dropbox by 4.3% in the fourth quarter. HighTower Advisors LLC now owns 27,707 shares of the company's stock worth $832,000 after buying an additional 1,131 shares during the last quarter. AlphaQuest LLC increased its holdings in Dropbox by 114.0% in the fourth quarter. AlphaQuest LLC now owns 22,064 shares of the company's stock worth $663,000 after buying an additional 11,753 shares during the last quarter. Finally, PNC Financial Services Group Inc. boosted its position in Dropbox by 8.0% during the fourth quarter. PNC Financial Services Group Inc. now owns 7,272 shares of the company's stock worth $218,000 after purchasing an additional 538 shares during the period. Institutional investors and hedge funds own 94.84% of the company's stock.
Insider Activity at Dropbox
In other Dropbox news, CEO Andrew Houston sold 500,323 shares of the company's stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $29.65, for a total transaction of $14,834,576.95. Following the completion of the transaction, the chief executive officer now owns 8,266,666 shares of the company's stock, valued at $245,106,646.90. This represents a 5.71 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, 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 transaction, the insider now directly owns 309,550 shares of the company's stock, valued at approximately $8,141,165. This trade represents a 1.20 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 634,504 shares of company stock worth $18,935,530. 28.59% of the stock is owned by company insiders.
Dropbox Trading Up 4.4 %
Shares of Dropbox stock traded up $1.07 during trading on Friday, reaching $25.62. The company's stock had a trading volume of 3,736,357 shares, compared to its average volume of 3,442,220. The stock has a market capitalization of $7.73 billion, a P/E ratio of 18.17, a price-to-earnings-growth ratio of 1.70 and a beta of 0.77. Dropbox, Inc. has a one year low of $20.68 and a one year high of $33.33. The stock has a 50-day moving average price of $29.68 and a two-hundred day moving average price of $27.86.
Dropbox (NASDAQ:DBX - Get Free Report) last announced its quarterly earnings data 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 for the quarter, compared to the consensus estimate of $638.61 million. Dropbox had a negative return on equity of 132.63% and a net margin of 17.75%. As a group, sell-side analysts anticipate 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 Dropbox from $27.00 to $30.00 and gave the stock a "hold" rating in a research report on Monday, January 6th.
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Dropbox Company Profile
(
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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