Diversified Trust Co raised its position in Dropbox, Inc. (NASDAQ:DBX - Free Report) by 429.6% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 57,762 shares of the company's stock after acquiring an additional 46,856 shares during the quarter. Diversified Trust Co's holdings in Dropbox were worth $1,298,000 at the end of the most recent quarter.
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A number of other hedge funds have also made changes to their positions in the stock. Vanguard Group Inc. grew its position in shares of Dropbox by 0.4% during the first quarter. Vanguard Group Inc. now owns 27,379,532 shares of the company's stock worth $665,323,000 after buying an additional 105,250 shares in the last quarter. Jacobs Levy Equity Management Inc. grew its position in shares of Dropbox by 0.7% during the first quarter. Jacobs Levy Equity Management Inc. now owns 4,670,151 shares of the company's stock worth $113,485,000 after buying an additional 32,600 shares in the last quarter. LSV Asset Management grew its position in shares of Dropbox by 3.7% during the first quarter. LSV Asset Management now owns 3,427,430 shares of the company's stock worth $83,287,000 after buying an additional 121,700 shares in the last quarter. Acadian Asset Management LLC boosted its holdings in Dropbox by 18.7% in the first quarter. Acadian Asset Management LLC now owns 3,279,401 shares of the company's stock worth $79,664,000 after purchasing an additional 517,052 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its holdings in Dropbox by 3.4% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,990,186 shares of the company's stock worth $88,151,000 after purchasing an additional 98,568 shares during the period. Institutional investors and hedge funds own 94.84% of the company's stock.
Analyst Upgrades and Downgrades
A number of research firms have commented on DBX. Citigroup decreased their price objective on shares of Dropbox from $26.00 to $25.00 and set a "neutral" rating for the company in a report on Wednesday, June 26th. UBS Group decreased their price objective on shares of Dropbox from $30.00 to $28.00 and set a "buy" rating for the company in a report on Friday, August 9th. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, Dropbox has a consensus rating of "Hold" and a consensus price target of $29.14.
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View Our Latest Research Report on Dropbox
Dropbox Trading Down 0.1 %
Shares of Dropbox stock opened at $22.46 on Thursday. The company's 50-day moving average price is $22.35 and its two-hundred day moving average price is $24.04. Dropbox, Inc. has a 52 week low of $20.68 and a 52 week high of $33.43. The stock has a market cap of $7.42 billion, a PE ratio of 14.87, a price-to-earnings-growth ratio of 1.61 and a beta of 0.65.
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Dropbox (NASDAQ:DBX - Get Free Report) last issued its quarterly 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 firm had revenue of $634.50 million for the quarter, compared to analysts' expectations of $630.10 million. Dropbox had a negative return on equity of 148.13% and a net margin of 20.50%. Dropbox's revenue was up 1.9% on a year-over-year basis. During the same quarter last year, the business posted $0.28 EPS. On average, equities analysts predict that Dropbox, Inc. will post 1.26 EPS for the current fiscal year.
Insider Buying and Selling at Dropbox
In related news, CFO Timothy Regan sold 3,000 shares of the stock in a transaction that occurred on Wednesday, May 29th. The stock was sold at an average price of $23.12, for a total value of $69,360.00. Following the transaction, the chief financial officer now owns 554,122 shares in the company, valued at $12,811,300.64. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In related news, CEO Andrew Houston sold 82,000 shares of the stock in a transaction that occurred on Monday, June 3rd. The stock was sold at an average price of $22.40, for a total value of $1,836,800.00. Following the transaction, the chief executive officer now owns 8,266,666 shares in the company, valued at $185,173,318.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Timothy Regan sold 3,000 shares of the company's stock in a transaction that occurred on Wednesday, May 29th. The stock was sold at an average price of $23.12, for a total value of $69,360.00. Following the sale, the chief financial officer now directly owns 554,122 shares of the company's stock, valued at approximately $12,811,300.64. The disclosure for this sale can be found here. Insiders have sold a total of 208,536 shares of company stock valued at $4,672,611 in the last 90 days. 26.40% of the stock is currently owned by corporate insiders.
Dropbox Company Profile
(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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