Elo Mutual Pension Insurance Co Invests $403,000 in Dropbox, Inc. (NASDAQ:DBX)

Elo Mutual Pension Insurance Co purchased a new position in Dropbox, Inc. (NASDAQ:DBX - Free Report) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 13,421 shares of the company's stock, valued at approximately $403,000.

Other large investors have also made changes to their positions in the company. KLP Kapitalforvaltning AS acquired a new stake in Dropbox in the 4th quarter worth approximately $25,375,000. Caisse DE Depot ET Placement DU Quebec purchased a new position in shares of Dropbox in the third quarter worth $11,687,000. Jacobs Levy Equity Management Inc. lifted its stake in shares of Dropbox by 6.2% during the third quarter. Jacobs Levy Equity Management Inc. now owns 6,239,493 shares of the company's stock worth $158,670,000 after buying an additional 365,893 shares during the period. WINTON GROUP Ltd purchased a new stake in shares of Dropbox during the fourth quarter valued at $5,853,000. Finally, Quantinno Capital Management LP increased its position in shares of Dropbox by 112.4% in the 3rd quarter. Quantinno Capital Management LP now owns 302,684 shares of the company's stock valued at $7,697,000 after acquiring an additional 160,152 shares during the period. 94.84% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Dropbox

In other news, insider Eric Cox sold 3,765 shares of the business'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 completion of the sale, the insider now directly owns 309,550 shares in the company, valued at $8,141,165. The trade was a 1.20 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Timothy Regan sold 2,500 shares of the stock in a transaction that occurred on Wednesday, January 15th. The shares were sold at an average price of $30.37, for a total value of $75,925.00. Following the transaction, the chief financial officer now owns 401,264 shares in the company, valued at $12,186,387.68. This trade represents a 0.62 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 124,181 shares of company stock valued at $3,794,928. Corporate insiders own 28.59% of the company's stock.

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Analysts Set New Price Targets

Separately, Jefferies Financial Group lifted 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 traded down $1.38 during trading on Friday, reaching $25.45. 5,351,199 shares of the company's stock were exchanged, compared to its average volume of 3,569,556. The stock has a market capitalization of $7.68 billion, a P/E ratio of 18.05, a price-to-earnings-growth ratio of 1.70 and a beta of 0.75. Dropbox, Inc. has a 1 year low of $20.68 and a 1 year high of $33.33. The company's fifty day simple moving average is $28.59 and its 200-day simple moving average is $28.12.

Dropbox (NASDAQ:DBX - Get Free Report) last announced its quarterly 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 net margin of 17.75% and a negative return on equity of 132.63%. The company had revenue of $643.60 million for the quarter, compared to analysts' expectations of $638.61 million. Equities analysts forecast that Dropbox, Inc. will post 1.64 EPS for the current year.

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.