Trexquant Investment LP Makes New $7.04 Million Investment in Dropbox, Inc. (NASDAQ:DBX)

Trexquant Investment LP bought a new stake in shares of Dropbox, Inc. (NASDAQ:DBX - Free Report) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 234,387 shares of the company's stock, valued at approximately $7,041,000. Trexquant Investment LP owned about 0.08% of Dropbox as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently made changes to their positions in the company. EverSource Wealth Advisors LLC raised its stake in Dropbox by 96.1% during the fourth quarter. EverSource Wealth Advisors LLC now owns 865 shares of the company's stock valued at $26,000 after buying an additional 424 shares during the last quarter. Avion Wealth increased its holdings in shares of Dropbox by 4,472.7% during the fourth quarter. Avion Wealth now owns 1,006 shares of the company's stock valued at $30,000 after acquiring an additional 984 shares in the last quarter. SBI Securities Co. Ltd. purchased a new position in shares of Dropbox in the 4th quarter worth about $40,000. Allworth Financial LP boosted its stake in Dropbox by 33.5% in the 4th quarter. Allworth Financial LP now owns 1,456 shares of the company's stock worth $45,000 after purchasing an additional 365 shares in the last quarter. Finally, V Square Quantitative Management LLC boosted its stake in Dropbox by 39.0% in the 4th quarter. V Square Quantitative Management LLC now owns 1,717 shares of the company's stock worth $52,000 after purchasing an additional 482 shares in the last quarter. 94.84% of the stock is owned by institutional investors.

Insider Activity at Dropbox

In other news, insider Eric Cox sold 3,765 shares of the company's stock in a transaction dated Thursday, February 27th. The shares were sold at an average price of $26.30, for a total transaction of $99,019.50. Following the completion of the sale, the insider now owns 309,550 shares of the company's stock, valued at $8,141,165. This represents a 1.20 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Andrew Houston sold 80,499 shares of the firm's stock in a transaction that occurred on Tuesday, January 21st. The stock was sold at an average price of $30.97, for a total transaction of $2,493,054.03. Following the completion of the transaction, the chief executive officer now directly owns 8,266,666 shares in the company, valued at approximately $256,018,646.02. The trade was a 0.96 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 94,264 shares of company stock worth $2,895,324 over the last quarter. Company insiders own 28.59% of the company's stock.

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Dropbox Stock Up 9.2 %

Shares of Dropbox stock traded up $2.35 on Wednesday, reaching $27.77. The company's stock had a trading volume of 6,469,409 shares, compared to its average volume of 3,602,963. The company has a market capitalization of $8.38 billion, a price-to-earnings ratio of 19.70, a P/E/G ratio of 1.70 and a beta of 0.75. Dropbox, Inc. has a 52 week low of $20.68 and a 52 week high of $33.33. The firm's fifty day simple moving average is $28.00 and its two-hundred day simple moving average is $28.18.

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

Analysts Set New Price Targets

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.

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.