Resona Asset Management Co. Ltd. acquired a new position in shares of Dropbox, Inc. (NASDAQ:DBX - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 13,697 shares of the company's stock, valued at approximately $411,000.
A number of other large investors have also modified their holdings of the stock. Arrowstreet Capital Limited Partnership boosted its position 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 acquiring an additional 1,440,887 shares in the last quarter. Geode Capital Management LLC lifted its stake in Dropbox by 0.6% during the third quarter. Geode Capital Management LLC now owns 4,366,271 shares of the company's stock worth $111,368,000 after purchasing an additional 25,893 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in Dropbox by 4.2% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,914,005 shares of the company's stock valued at $87,537,000 after purchasing an additional 117,767 shares in the last quarter. Retirement Systems of Alabama increased its stake in Dropbox by 15.2% in the third quarter. Retirement Systems of Alabama now owns 944,033 shares of the company's stock valued at $24,007,000 after purchasing an additional 124,528 shares during the last quarter. Finally, Mitsubishi UFJ Trust & Banking Corp increased its stake in Dropbox by 13.5% in the fourth quarter. Mitsubishi UFJ Trust & Banking Corp now owns 901,459 shares of the company's stock valued at $27,080,000 after purchasing an additional 107,460 shares during the last quarter. Hedge funds and other institutional investors own 94.84% of the company's stock.
Dropbox Stock Performance
Dropbox stock traded up $0.19 during midday trading on Tuesday, hitting $26.93. 3,088,725 shares of the company's stock were exchanged, compared to its average volume of 3,613,115. The firm's 50 day simple moving average is $27.68 and its 200 day simple moving average is $28.24. Dropbox, Inc. has a 12-month low of $20.68 and a 12-month high of $33.33. The stock has a market cap of $8.13 billion, a price-to-earnings ratio of 19.10, a price-to-earnings-growth ratio of 1.70 and a beta of 0.75.
Dropbox (NASDAQ:DBX - Get Free Report) last posted its quarterly earnings data on Thursday, February 20th. The company reported $0.51 EPS for the quarter, missing the consensus estimate of $0.62 by ($0.11). The company had revenue of $643.60 million for the quarter, compared to analysts' expectations of $638.61 million. Dropbox had a net margin of 17.75% and a negative return on equity of 132.63%. On average, equities research analysts forecast that Dropbox, Inc. will post 1.64 EPS for the current fiscal year.
Insider Activity
In other news, insider Eric Cox sold 3,765 shares of Dropbox 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 $8,141,165. The trade was a 1.20 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CFO Timothy Regan sold 2,500 shares of the stock in a transaction dated Wednesday, January 15th. The shares were sold at an average price of $30.37, for a total transaction of $75,925.00. Following the completion of the sale, the chief financial officer now directly owns 401,264 shares in the company, valued at approximately $12,186,387.68. The trade was a 0.62 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 94,264 shares of company stock valued at $2,895,324 over the last quarter. Corporate insiders own 28.59% of the company's stock.
Analyst Upgrades and Downgrades
Separately, Jefferies Financial Group upped their target price on shares of Dropbox from $27.00 to $30.00 and gave the company a "hold" rating in a report on Monday, January 6th.
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About Dropbox
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Free Report)
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.
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