Dropbox, Inc. (NASDAQ:DBX) Shares Acquired by Intech Investment Management LLC

Intech Investment Management LLC lifted its stake in shares of Dropbox, Inc. (NASDAQ:DBX - Free Report) by 185.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 150,488 shares of the company's stock after purchasing an additional 97,725 shares during the quarter. Intech Investment Management LLC's holdings in Dropbox were worth $4,521,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of DBX. Pacer Advisors Inc. raised its holdings 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 in the last quarter. Jacobs Levy Equity Management Inc. raised its stake in shares of Dropbox by 6.2% during the 3rd 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. Geode Capital Management LLC raised its stake in shares of Dropbox by 0.6% during the 3rd quarter. Geode Capital Management LLC now owns 4,366,271 shares of the company's stock worth $111,368,000 after buying an additional 25,893 shares in the last quarter. Charles Schwab Investment Management Inc. raised its stake in shares of Dropbox by 4.2% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,914,005 shares of the company's stock worth $87,537,000 after buying an additional 117,767 shares in the last quarter. Finally, Retirement Systems of Alabama raised its position in Dropbox by 15.2% in the third quarter. Retirement Systems of Alabama now owns 944,033 shares of the company's stock worth $24,007,000 after acquiring an additional 124,528 shares in the last quarter. Hedge funds and other institutional investors own 94.84% of the company's stock.

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Insider Activity

In related news, CFO Timothy Regan sold 2,500 shares of Dropbox stock in a transaction that occurred on Monday, December 30th. The stock was sold at an average price of $30.38, for a total transaction of $75,950.00. Following the completion of the transaction, the chief financial officer now directly owns 413,764 shares in the company, valued at $12,570,150.32. The trade was a 0.60 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, 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 transaction, the chief executive officer now owns 8,266,666 shares of the company's stock, valued at $245,106,646.90. This represents a 5.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 634,504 shares of company stock worth $18,935,530 over the last 90 days. 28.59% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Separately, Jefferies Financial Group increased their price objective 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

Dropbox stock traded up $0.13 during mid-day trading on Friday, reaching $26.50. The company had a trading volume of 13,899,248 shares, compared to its average volume of 3,449,137. Dropbox, Inc. has a 1 year low of $20.68 and a 1 year high of $33.33. The company has a market capitalization of $8.00 billion, a P/E ratio of 18.79, a P/E/G ratio of 1.70 and a beta of 0.77. The stock's 50-day simple moving average is $29.36 and its 200-day simple moving average is $27.94.

Dropbox (NASDAQ:DBX - Get Free Report) last released its quarterly earnings data 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 firm had revenue of $643.60 million during the quarter, compared to analysts' expectations of $638.61 million. On average, equities analysts forecast that Dropbox, Inc. will post 1.64 EPS for the current fiscal year.

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.