Massachusetts Financial Services Co. MA Buys 128,066 Shares of Dropbox, Inc. (NASDAQ:DBX)

Massachusetts Financial Services Co. MA lifted its holdings in Dropbox, Inc. (NASDAQ:DBX - Free Report) by 20.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 743,945 shares of the company's stock after purchasing an additional 128,066 shares during the period. Massachusetts Financial Services Co. MA owned 0.24% of Dropbox worth $22,348,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of DBX. HighTower Advisors LLC lifted its holdings in Dropbox by 68.2% in the 3rd quarter. HighTower Advisors LLC now owns 26,576 shares of the company's stock worth $683,000 after purchasing an additional 10,777 shares during the last quarter. Quarry LP grew its holdings in Dropbox by 23.4% during the third quarter. Quarry LP now owns 2,424 shares of the company's stock valued at $62,000 after purchasing an additional 459 shares during the last quarter. Weiss Asset Management LP bought a new position in shares of Dropbox in the third quarter valued at approximately $1,006,000. Orion Portfolio Solutions LLC acquired a new stake in shares of Dropbox in the third quarter worth $688,000. Finally, M&T Bank Corp bought a new stake in shares of Dropbox during the 3rd quarter worth $229,000. 94.84% of the stock is currently owned by institutional investors.

Dropbox Stock Performance

DBX remained flat at $27.08 during midday trading on Friday. The company's stock had a trading volume of 4,029,025 shares, compared to its average volume of 3,613,920. The firm has a fifty day simple moving average of $27.80 and a two-hundred day simple moving average of $28.21. The stock has a market capitalization of $8.17 billion, a PE ratio of 19.21, a P/E/G ratio of 1.70 and a beta of 0.75. Dropbox, Inc. has a 12-month low of $20.68 and a 12-month high of $33.33.

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Dropbox (NASDAQ:DBX - Get Free Report) last announced its quarterly earnings data on Thursday, February 20th. The company reported $0.51 earnings per share (EPS) for the quarter, missing the consensus estimate 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 negative return on equity of 132.63% and a net margin of 17.75%. As a group, sell-side analysts expect that Dropbox, Inc. will post 1.64 earnings per share for the current year.

Insider Transactions at Dropbox

In other news, insider Eric Cox sold 3,765 shares of Dropbox stock in a transaction that occurred on Thursday, February 27th. The stock was sold at an average price of $26.30, for a total transaction of $99,019.50. Following the sale, the insider now owns 309,550 shares of the company's stock, valued at approximately $8,141,165. This trade represents a 1.20 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Andrew Houston sold 80,499 shares of the company's stock in a transaction on Tuesday, January 21st. The shares were sold at an average price of $30.97, for a total value of $2,493,054.03. Following the completion of the transaction, the chief executive officer now owns 8,266,666 shares of the company's stock, 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. In the last 90 days, insiders have sold 94,264 shares of company stock worth $2,895,324. 28.59% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Separately, Jefferies Financial Group lifted 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.

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.