Ontario Teachers Pension Plan Board Has $1.49 Million Stake in Dropbox, Inc. (NASDAQ:DBX)

Ontario Teachers Pension Plan Board grew its holdings in shares of Dropbox, Inc. (NASDAQ:DBX - Free Report) by 31.0% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 49,617 shares of the company's stock after buying an additional 11,748 shares during the quarter. Ontario Teachers Pension Plan Board's holdings in Dropbox were worth $1,490,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. HighTower Advisors LLC lifted its stake in Dropbox by 68.2% in the third quarter. HighTower Advisors LLC now owns 26,576 shares of the company's stock valued at $683,000 after acquiring an additional 10,777 shares during the last quarter. Orion Portfolio Solutions LLC bought a new stake in Dropbox in the third quarter valued at approximately $688,000. M&T Bank Corp acquired a new stake in shares of Dropbox in the third quarter valued at approximately $229,000. Geode Capital Management LLC boosted 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 acquiring an additional 25,893 shares during the period. Finally, Sanctuary Advisors LLC bought a new stake in Dropbox in the 3rd quarter valued at $268,000. 94.84% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

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

Dropbox Price Performance

NASDAQ DBX traded up $0.28 on Friday, reaching $27.11. The stock had a trading volume of 2,779,080 shares, compared to its average volume of 3,616,254. The company has a market cap of $8.18 billion, a P/E ratio of 19.23, a price-to-earnings-growth ratio of 1.70 and a beta of 0.75. The firm has a fifty day moving average of $27.28 and a two-hundred day moving average of $28.25. Dropbox, Inc. has a 1-year low of $20.68 and a 1-year high of $33.33.

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

Insider Buying and Selling at Dropbox

In other news, CFO Timothy Regan sold 2,500 shares of Dropbox stock in a transaction on Friday, February 7th. The stock was sold at an average price of $32.19, for a total value of $80,475.00. Following the transaction, the chief financial officer now owns 396,264 shares in the company, valued at approximately $12,755,738.16. This trade represents a 0.63 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Andrew Houston sold 80,499 shares of the company's stock in a transaction on Tuesday, January 21st. The stock was sold at an average price of $30.97, for a total value of $2,493,054.03. Following the sale, the chief executive officer now owns 8,266,666 shares of the company's stock, valued at approximately $256,018,646.02. This represents a 0.96 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 94,264 shares of company stock valued at $2,886,749 in the last three months. Corporate insiders own 28.59% of the company's stock.

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.