Mitsubishi UFJ Trust & Banking Corp Buys 107,460 Shares of Dropbox, Inc. (NASDAQ:DBX)

Mitsubishi UFJ Trust & Banking Corp boosted its position in shares of Dropbox, Inc. (NASDAQ:DBX - Free Report) by 13.5% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 901,459 shares of the company's stock after acquiring an additional 107,460 shares during the quarter. Mitsubishi UFJ Trust & Banking Corp owned 0.29% of Dropbox worth $27,080,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in DBX. Prudential Financial Inc. boosted its position in Dropbox by 53.9% during the fourth quarter. Prudential Financial Inc. now owns 99,984 shares of the company's stock worth $3,004,000 after purchasing an additional 35,036 shares during the period. LPL Financial LLC lifted its stake in shares of Dropbox by 31.2% during the 4th quarter. LPL Financial LLC now owns 24,506 shares of the company's stock worth $736,000 after buying an additional 5,823 shares during the last quarter. Heron Bay Capital Management boosted its holdings in shares of Dropbox by 2.3% during the 4th quarter. Heron Bay Capital Management now owns 16,769 shares of the company's stock worth $504,000 after buying an additional 378 shares during the period. KLP Kapitalforvaltning AS acquired a new position in Dropbox in the 4th quarter valued at about $25,375,000. Finally, AXQ Capital LP bought a new position in Dropbox in the 4th quarter valued at about $270,000. Institutional investors and hedge funds own 94.84% of the company's stock.

Analysts Set New Price Targets

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

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Dropbox Price Performance

Dropbox stock traded up $0.15 during midday trading on Monday, hitting $26.71. The company's stock had a trading volume of 4,059,769 shares, compared to its average volume of 3,551,368. The company has a market cap of $8.06 billion, a price-to-earnings ratio of 18.94, a PEG ratio of 1.70 and a beta of 0.77. Dropbox, Inc. has a 1-year low of $20.68 and a 1-year high of $33.33. The company has a 50-day moving average price of $28.95 and a two-hundred day moving average price of $28.11.

Dropbox (NASDAQ:DBX - Get Free Report) last released its quarterly 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). Dropbox had a net margin of 17.75% and a negative return on equity of 132.63%. The business had revenue of $643.60 million during the quarter, compared to analyst estimates of $638.61 million. Sell-side analysts forecast that Dropbox, Inc. will post 1.64 EPS for the current year.

Insider Buying and Selling

In other news, insider Eric Cox sold 3,765 shares of the business's stock in a transaction 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 completion of the transaction, the insider now owns 309,550 shares of the company's stock, valued at approximately $8,141,165. The trade was a 1.20 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Timothy Regan sold 10,000 shares of the firm's stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $29.65, for a total value of $296,500.00. Following the completion of the sale, the chief financial officer now directly owns 403,764 shares in the company, valued at $11,971,602.60. This trade represents a 2.42 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 632,004 shares of company stock worth $18,859,580. Company insiders own 28.59% of the company's stock.

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.