Harvest Fund Management Co. Ltd Buys New Holdings in Dropbox, Inc. (NASDAQ:DBX)

Harvest Fund Management Co. Ltd purchased a new position in shares of Dropbox, Inc. (NASDAQ:DBX - Free Report) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 19,947 shares of the company's stock, valued at approximately $592,000.

A number of other large investors also recently modified their holdings of DBX. Natixis Advisors LLC bought a new position in Dropbox in the 3rd quarter valued at approximately $270,000. Thrivent Financial for Lutherans lifted its holdings in shares of Dropbox by 12.6% during the third quarter. Thrivent Financial for Lutherans now owns 65,771 shares of the company's stock worth $1,672,000 after purchasing an additional 7,385 shares during the period. Advisors Asset Management Inc. lifted its holdings in shares of Dropbox by 12.0% during the third quarter. Advisors Asset Management Inc. now owns 27,593 shares of the company's stock worth $702,000 after purchasing an additional 2,960 shares during the period. Aurora Investment Counsel grew its stake in shares of Dropbox by 18.0% in the third quarter. Aurora Investment Counsel now owns 39,245 shares of the company's stock worth $998,000 after purchasing an additional 6,000 shares during the last quarter. Finally, Landscape Capital Management L.L.C. acquired a new stake in Dropbox in the third quarter valued at $2,774,000. 94.84% of the stock is currently owned by institutional investors.

Dropbox Stock Up 0.4 %

Dropbox stock traded up $0.11 during mid-day trading on Tuesday, hitting $27.24. 6,271,476 shares of the stock were exchanged, compared to its average volume of 3,451,483. The stock has a market capitalization of $8.22 billion, a price-to-earnings ratio of 19.32, a PEG ratio of 1.70 and a beta of 0.77. Dropbox, Inc. has a 12 month low of $20.68 and a 12 month high of $33.33. The firm's fifty day simple moving average is $29.31 and its two-hundred day simple moving average is $27.99.

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Dropbox (NASDAQ:DBX - Get Free Report) last announced its 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 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, analysts forecast that Dropbox, Inc. will post 1.64 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Separately, Jefferies Financial Group lifted their target price on Dropbox from $27.00 to $30.00 and gave the stock a "hold" rating in a report on Monday, January 6th.

Insider Activity

In other Dropbox news, CEO Andrew Houston sold 500,323 shares of Dropbox stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $29.65, for a total value of $14,834,576.95. Following the completion of the sale, the chief executive officer now directly owns 8,266,666 shares in the company, valued at approximately $245,106,646.90. The trade was a 5.71 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Timothy Regan sold 10,000 shares of the stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $29.65, for a total value of $296,500.00. Following the transaction, the chief financial officer now owns 403,764 shares in the company, valued at $11,971,602.60. The trade was a 2.42 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 634,504 shares of company stock valued at $18,935,530 in the last ninety days. 28.59% of the stock is owned by company insiders.

About Dropbox

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.