Dropbox, Inc. (NASDAQ:DBX) Shares Purchased by Intech Investment Management LLC

Intech Investment Management LLC boosted its position in shares of Dropbox, Inc. (NASDAQ:DBX) by 51.0% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 78,177 shares of the company’s stock after buying an additional 26,417 shares during the quarter. Intech Investment Management LLC’s holdings in Dropbox were worth $1,900,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. LSV Asset Management increased its holdings in Dropbox by 3.7% in the 1st quarter. LSV Asset Management now owns 3,427,430 shares of the company’s stock worth $83,287,000 after acquiring an additional 121,700 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its stake in Dropbox by 3.4% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,990,186 shares of the company’s stock valued at $88,151,000 after buying an additional 98,568 shares in the last quarter. DekaBank Deutsche Girozentrale boosted its holdings in Dropbox by 65.8% in the 4th quarter. DekaBank Deutsche Girozentrale now owns 2,189,593 shares of the company’s stock worth $64,825,000 after buying an additional 869,043 shares during the last quarter. Russell Investments Group Ltd. increased its stake in Dropbox by 68.2% during the 1st quarter. Russell Investments Group Ltd. now owns 1,949,274 shares of the company’s stock worth $47,397,000 after buying an additional 790,191 shares in the last quarter. Finally, California Public Employees Retirement System raised its holdings in shares of Dropbox by 2.1% during the fourth quarter. California Public Employees Retirement System now owns 1,727,055 shares of the company’s stock valued at $50,914,000 after acquiring an additional 35,137 shares during the last quarter. Institutional investors and hedge funds own 94.84% of the company’s stock.

Dropbox Stock Performance

Shares of DBX stock traded down $0.11 on Friday, hitting $23.12. 3,384,408 shares of the stock traded hands, compared to its average volume of 3,666,192. Dropbox, Inc. has a twelve month low of $20.68 and a twelve month high of $33.43. The firm’s 50-day moving average price is $22.41 and its two-hundred day moving average price is $25.07. The stock has a market capitalization of $7.63 billion, a PE ratio of 15.31, a PEG ratio of 1.60 and a beta of 0.65.

Dropbox (NASDAQ:DBX) last posted its quarterly earnings results on Thursday, May 9th. The company reported $0.41 earnings per share for the quarter, beating the consensus estimate of $0.28 by $0.13. The business had revenue of $631.30 million during the quarter, compared to analysts’ expectations of $628.81 million. Dropbox had a net margin of 20.50% and a negative return on equity of 148.13%. On average, equities research analysts anticipate that Dropbox, Inc. will post 1.26 EPS for the current fiscal year.

Analysts Set New Price Targets

Separately, Citigroup dropped their price target on Dropbox from $26.00 to $25.00 and set a “neutral” rating for the company in a research report on Wednesday, June 26th. Three analysts have rated the stock with a sell rating, four have given a hold rating and three have given a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $29.56.

Insider Buying and Selling

In other Dropbox news, CEO Andrew Houston sold 82,000 shares of Dropbox stock in a transaction on Wednesday, May 1st. The stock was sold at an average price of $23.44, for a total value of $1,922,080.00. Following the sale, the chief executive officer now owns 8,266,666 shares in the company, valued at $193,770,651.04. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, CEO Andrew Houston sold 82,000 shares of the company’s stock in a transaction that occurred on Wednesday, May 1st. The shares were sold at an average price of $23.44, for a total value of $1,922,080.00. Following the transaction, the chief executive officer now directly owns 8,266,666 shares in the company, valued at approximately $193,770,651.04. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, 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 transaction of $69,360.00. Following the transaction, 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. Over the last three months, insiders sold 293,536 shares of company stock worth $6,665,491. Company insiders own 26.40% 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.