Ieq Capital LLC Has $7.32 Million Position in Dropbox, Inc. (NASDAQ:DBX)

Ieq Capital LLC boosted its position in Dropbox, Inc. (NASDAQ:DBX - Free Report) by 10.2% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 243,821 shares of the company's stock after purchasing an additional 22,521 shares during the period. Ieq Capital LLC owned approximately 0.08% of Dropbox worth $7,324,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Caisse DE Depot ET Placement DU Quebec acquired a new position in shares of Dropbox in the 3rd quarter worth approximately $11,687,000. Jacobs Levy Equity Management Inc. boosted its holdings in 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 in the last quarter. Pacer Advisors Inc. grew its position in Dropbox by 4.5% in the third quarter. Pacer Advisors Inc. now owns 7,788,652 shares of the company's stock worth $198,065,000 after buying an additional 333,245 shares during the last quarter. Algert Global LLC increased its holdings in shares of Dropbox by 414.9% in the third quarter. Algert Global LLC now owns 365,832 shares of the company's stock valued at $9,303,000 after buying an additional 294,780 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its position in shares of Dropbox by 8.9% during the 3rd 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. 94.84% of the stock is owned by institutional investors.

Dropbox Trading Down 16.2 %

Shares of DBX traded down $5.17 during midday trading on Friday, hitting $26.71. The stock had a trading volume of 16,499,490 shares, compared to its average volume of 3,338,735. The business has a 50-day simple moving average of $30.99 and a two-hundred day simple moving average of $27.55. The firm has a market cap of $8.27 billion, a P/E ratio of 15.44, a price-to-earnings-growth ratio of 1.74 and a beta of 0.61. Dropbox, Inc. has a fifty-two week low of $20.68 and a fifty-two week high of $33.33.

Dropbox (NASDAQ:DBX - Get Free Report) last posted its quarterly earnings data on Thursday, February 20th. The company reported $0.51 EPS for the quarter, missing analysts' consensus estimates of $0.62 by ($0.11). Dropbox had a negative return on equity of 135.85% and a net margin of 22.71%. The firm had revenue of $643.60 million during the quarter, compared to analyst estimates of $638.61 million. On average, analysts expect that Dropbox, Inc. will post 1.49 earnings per share for the current fiscal year.

Insider Activity

In other Dropbox news, CFO Timothy Regan sold 10,000 shares of the company's stock in a transaction that occurred on Thursday, January 2nd. The shares were 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 approximately $11,971,602.60. This represents a 2.42 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Andrew Houston sold 132,000 shares of Dropbox stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $28.12, for a total transaction of $3,711,840.00. Following the sale, the chief executive officer now directly owns 8,266,666 shares of the company's stock, valued at $232,458,647.92. This trade represents a 1.57 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 900,238 shares of company stock worth $26,680,195. 28.59% of the stock is owned by corporate insiders.

Analyst Ratings Changes

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.

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.