Algert Global LLC Acquires New Shares in Dropbox, Inc. (NASDAQ:DBX)

Algert Global LLC bought a new position in shares of Dropbox, Inc. (NASDAQ:DBX - Free Report) during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor bought 71,052 shares of the company's stock, valued at approximately $1,597,000.

Several other large investors have also recently bought and sold shares of DBX. California State Teachers Retirement System raised its stake in shares of Dropbox by 1.0% during the 4th quarter. California State Teachers Retirement System now owns 405,039 shares of the company's stock worth $11,941,000 after purchasing an additional 3,879 shares in the last quarter. Crossmark Global Holdings Inc. raised its position in Dropbox by 9.6% during the fourth quarter. Crossmark Global Holdings Inc. now owns 141,331 shares of the company's stock worth $4,166,000 after acquiring an additional 12,335 shares in the last quarter. Prudential PLC lifted its stake in Dropbox by 7.7% in the fourth quarter. Prudential PLC now owns 22,043 shares of the company's stock valued at $650,000 after acquiring an additional 1,584 shares during the last quarter. Caxton Associates LP grew its position in shares of Dropbox by 656.4% in the 4th quarter. Caxton Associates LP now owns 63,205 shares of the company's stock valued at $1,863,000 after acquiring an additional 54,849 shares during the period. Finally, Quarry LP acquired a new position in shares of Dropbox during the 4th quarter worth about $64,000. 94.84% of the stock is owned by institutional investors and hedge funds.

Dropbox Price Performance

Dropbox stock traded down $0.16 during trading hours on Friday, hitting $25.37. The company had a trading volume of 3,368,885 shares, compared to its average volume of 3,837,785. The firm has a 50-day moving average of $23.90 and a 200 day moving average of $23.31. The firm has a market cap of $8.38 billion, a PE ratio of 16.91, a PEG ratio of 1.55 and a beta of 0.61. Dropbox, Inc. has a one year low of $20.68 and a one year high of $33.43.

Dropbox (NASDAQ:DBX - Get Free Report) last announced its earnings results on Thursday, August 8th. The company reported $0.60 earnings per share for the quarter, topping analysts' consensus estimates of $0.52 by $0.08. The company had revenue of $634.50 million for the quarter, compared to analyst estimates of $630.10 million. Dropbox had a negative return on equity of 161.78% and a net margin of 23.06%. The firm's quarterly revenue was up 1.9% compared to the same quarter last year. During the same quarter last year, the company earned $0.28 earnings per share. As a group, research analysts expect that Dropbox, Inc. will post 1.31 earnings per share for the current year.

Insiders Place Their Bets

In other Dropbox news, insider Bart Volkmer sold 7,000 shares of the business's stock in a transaction dated Monday, July 15th. The shares were sold at an average price of $22.76, for a total value of $159,320.00. Following the completion of the sale, the insider now owns 333,934 shares of the company's stock, valued at $7,600,337.84. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, CEO Andrew Houston sold 3,493 shares of the stock in a transaction on Thursday, September 19th. The stock was sold at an average price of $25.00, for a total transaction of $87,325.00. Following the sale, the chief executive officer now directly owns 8,266,666 shares of the company's stock, valued at approximately $206,666,650. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Bart Volkmer sold 7,000 shares of the business's stock in a transaction dated Monday, July 15th. The shares were sold at an average price of $22.76, for a total value of $159,320.00. Following the completion of the transaction, the insider now directly owns 333,934 shares of the company's stock, valued at approximately $7,600,337.84. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 464,952 shares of company stock worth $11,642,212 in the last 90 days. Company insiders own 26.40% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the stock. UBS Group dropped their target price on shares of Dropbox from $30.00 to $28.00 and set a "buy" rating on the stock in a report on Friday, August 9th. Citigroup cut their price objective on Dropbox from $26.00 to $25.00 and set a "neutral" rating for the company in a research report on Wednesday, June 26th. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $28.67.

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.