LSV Asset Management Buys 1,245,563 Shares of Dropbox, Inc. (NASDAQ:DBX)

LSV Asset Management raised its holdings in shares of Dropbox, Inc. (NASDAQ:DBX - Free Report) by 24.0% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,446,121 shares of the company's stock after purchasing an additional 1,245,563 shares during the quarter. LSV Asset Management owned approximately 2.08% of Dropbox worth $193,641,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in DBX. Arrowstreet Capital Limited Partnership grew its holdings in shares of Dropbox by 38.1% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 5,224,864 shares of the company's stock worth $156,955,000 after purchasing an additional 1,440,887 shares in the last quarter. Geode Capital Management LLC raised its position in shares of Dropbox by 0.6% in the 3rd quarter. Geode Capital Management LLC now owns 4,366,271 shares of the company's stock valued at $111,368,000 after buying an additional 25,893 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its holdings 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 acquiring an additional 117,767 shares during the period. Russell Investments Group Ltd. increased its stake in Dropbox by 5.0% in the fourth quarter. Russell Investments Group Ltd. now owns 2,410,194 shares of the company's stock valued at $72,526,000 after acquiring an additional 114,646 shares during the last quarter. Finally, Retirement Systems of Alabama lifted its stake in Dropbox by 15.2% during the third quarter. Retirement Systems of Alabama now owns 944,033 shares of the company's stock worth $24,007,000 after purchasing an additional 124,528 shares during the last quarter. 94.84% of the stock is owned by institutional investors.

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Dropbox Stock Up 0.8 %

DBX traded up $0.21 during midday trading on Tuesday, hitting $26.95. The company had a trading volume of 813,548 shares, compared to its average volume of 3,604,291. The company has a market capitalization of $8.13 billion, a price-to-earnings ratio of 19.11, a PEG ratio of 1.70 and a beta of 0.75. The stock's 50 day moving average price is $27.68 and its 200 day moving average price is $28.24. Dropbox, Inc. has a 52 week low of $20.68 and a 52 week high of $33.33.

Dropbox (NASDAQ:DBX - Get Free Report) last issued its earnings results on Thursday, February 20th. The company reported $0.51 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.62 by ($0.11). The firm had revenue of $643.60 million during 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%. Research analysts predict that Dropbox, Inc. will post 1.64 EPS for the current year.

Insider Activity at Dropbox

In other news, CFO Timothy Regan sold 2,500 shares of the stock in a transaction on Friday, March 28th. The stock was sold at an average price of $26.57, for a total transaction of $66,425.00. Following the completion of the transaction, the chief financial officer now owns 367,791 shares in the company, valued at approximately $9,772,206.87. This represents a 0.68 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Andrew Houston sold 80,499 shares of the company's stock in a transaction that occurred on Tuesday, January 21st. The shares were sold at an average price of $30.97, for a total transaction of $2,493,054.03. Following the sale, the chief executive officer now owns 8,266,666 shares in the company, valued at $256,018,646.02. The trade was a 0.96 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 94,264 shares of company stock valued at $2,895,324 over the last ninety days. Corporate insiders own 28.59% of the company's stock.

Analyst Upgrades and Downgrades

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

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.