Fisher Asset Management LLC Has $5.90 Million Stock Position in Dropbox, Inc. (NASDAQ:DBX)

Fisher Asset Management LLC boosted its holdings in shares of Dropbox, Inc. (NASDAQ:DBX - Free Report) by 26.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 196,406 shares of the company's stock after purchasing an additional 41,275 shares during the period. Fisher Asset Management LLC owned about 0.06% of Dropbox worth $5,900,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Pacer Advisors Inc. lifted its stake in Dropbox by 4.5% during the third quarter. Pacer Advisors Inc. now owns 7,788,652 shares of the company's stock worth $198,065,000 after purchasing an additional 333,245 shares during the period. Jacobs Levy Equity Management Inc. raised its stake in shares of Dropbox by 6.2% in the third quarter. Jacobs Levy Equity Management Inc. now owns 6,239,493 shares of the company's stock valued at $158,670,000 after acquiring an additional 365,893 shares during the last quarter. Geode Capital Management LLC raised its stake in shares of Dropbox by 0.6% in the third quarter. Geode Capital Management LLC now owns 4,366,271 shares of the company's stock valued at $111,368,000 after acquiring an additional 25,893 shares during the last quarter. Charles Schwab Investment Management Inc. raised its stake in shares of Dropbox by 8.9% in the third quarter. Charles Schwab Investment Management Inc. now owns 2,796,238 shares of the company's stock valued at $71,108,000 after acquiring an additional 228,685 shares during the last quarter. Finally, Robeco Institutional Asset Management B.V. raised its stake in shares of Dropbox by 6.1% in the third quarter. Robeco Institutional Asset Management B.V. now owns 2,355,762 shares of the company's stock valued at $59,907,000 after acquiring an additional 134,503 shares during the last quarter. Institutional investors own 94.84% of the company's stock.

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Dropbox Trading Up 3.1 %

Shares of Dropbox stock traded up $0.79 during midday trading on Friday, reaching $26.42. The company had a trading volume of 4,208,338 shares, compared to its average volume of 3,450,530. The company has a market capitalization of $7.97 billion, a price-to-earnings ratio of 18.74, a price-to-earnings-growth ratio of 1.70 and a beta of 0.77. The stock has a fifty day simple moving average of $30.15 and a 200 day simple moving average of $27.82. Dropbox, Inc. has a 1-year low of $20.68 and a 1-year high of $33.33.

Dropbox (NASDAQ:DBX - Get Free Report) last issued its quarterly earnings results on Thursday, February 20th. The company reported $0.51 earnings per share for the quarter, missing analysts' consensus estimates of $0.62 by ($0.11). The company had revenue of $643.60 million during the quarter, compared to analyst estimates of $638.61 million. Dropbox had a net margin of 17.75% and a negative return on equity of 132.63%. Sell-side analysts expect that Dropbox, Inc. will post 1.64 earnings per share for the current year.

Insider Activity at Dropbox

In other Dropbox news, CFO Timothy Regan sold 10,000 shares of Dropbox stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $29.65, for a total transaction of $296,500.00. Following the completion of the sale, the chief financial officer now owns 403,764 shares of the company's stock, valued at approximately $11,971,602.60. The trade was a 2.42 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Andrew Houston sold 137,499 shares of Dropbox stock in a transaction on Wednesday, December 11th. The stock was sold at an average price of $30.05, for a total transaction of $4,131,844.95. Following the sale, the chief executive officer now directly owns 8,266,666 shares of the company's stock, valued at $248,413,313.30. This represents a 1.64 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 772,003 shares of company stock valued at $23,067,375 over the last quarter. Corporate insiders own 28.59% of the company's stock.

Analysts Set New Price Targets

Separately, Jefferies Financial Group lifted 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.

Dropbox Company 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.