First Trust Advisors LP Buys 262,871 Shares of Dropbox, Inc. (NASDAQ:DBX)

First Trust Advisors LP raised its position in Dropbox, Inc. (NASDAQ:DBX - Free Report) by 12.2% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 2,415,093 shares of the company's stock after purchasing an additional 262,871 shares during the period. First Trust Advisors LP owned 0.78% of Dropbox worth $72,549,000 as of its most recent filing with the SEC.

Other large investors also recently modified their holdings of the company. Arrowstreet Capital Limited Partnership increased its stake in Dropbox by 38.1% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 5,224,864 shares of the company's stock valued at $156,955,000 after purchasing an additional 1,440,887 shares in the last quarter. LSV Asset Management increased its position in Dropbox by 24.0% in the 4th quarter. LSV Asset Management now owns 6,446,121 shares of the company's stock valued at $193,641,000 after buying an additional 1,245,563 shares in the last quarter. KLP Kapitalforvaltning AS acquired a new position in Dropbox during the 4th quarter worth approximately $25,375,000. Norges Bank bought a new position in Dropbox in the fourth quarter worth approximately $20,482,000. Finally, Bridgewater Associates LP grew its stake in Dropbox by 39.7% in the fourth quarter. Bridgewater Associates LP now owns 981,914 shares of the company's stock valued at $29,497,000 after acquiring an additional 278,902 shares during the period. 94.84% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Separately, Jefferies Financial Group boosted their price target 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.

Dropbox Trading Up 0.8 %

Shares of NASDAQ:DBX traded up $0.22 during mid-day trading on Friday, hitting $28.58. 2,443,596 shares of the company traded hands, compared to its average volume of 3,626,331. The stock has a 50-day moving average price of $26.88 and a two-hundred day moving average price of $28.31. Dropbox, Inc. has a 12-month low of $20.68 and a 12-month high of $33.33. The stock has a market cap of $8.62 billion, a P/E ratio of 20.27, a P/E/G ratio of 1.70 and a beta of 0.75.

Dropbox (NASDAQ:DBX - Get Free Report) last released 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). The firm had revenue of $643.60 million for the quarter, compared to analysts' expectations of $638.61 million. Dropbox had a negative return on equity of 132.63% and a net margin of 17.75%. As a group, analysts expect that Dropbox, Inc. will post 1.64 earnings per share for the current year.

Insider Buying and Selling

In other Dropbox news, insider Eric Cox sold 3,765 shares of the stock in a transaction 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 completion of the transaction, the insider now directly owns 309,550 shares of the company's stock, valued at approximately $8,141,165. This represents a 1.20 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Timothy Regan sold 2,500 shares of the business's stock in a transaction on Friday, February 7th. The shares were sold at an average price of $32.19, for a total value of $80,475.00. Following the completion of the sale, the chief financial officer now owns 396,264 shares in the company, valued at approximately $12,755,738.16. The trade was a 0.63 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 13,765 shares of company stock worth $393,695. 28.59% of the stock is owned by company 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.