Gerber Kawasaki Wealth & Investment Management bought a new stake in Dropbox Inc (NASDAQ:DBX) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 28,848 shares of the company’s stock, valued at approximately $628,000.
Other hedge funds and other institutional investors have also modified their holdings of the company. Quantamental Technologies LLC bought a new position in Dropbox in the fourth quarter valued at approximately $33,000. Pearl River Capital LLC bought a new position in Dropbox in the fourth quarter valued at approximately $35,000. Ellevest Inc. bought a new position in Dropbox in the first quarter valued at approximately $40,000. Advisory Services Network LLC lifted its stake in Dropbox by 272.7% in the fourth quarter. Advisory Services Network LLC now owns 2,050 shares of the company’s stock valued at $42,000 after buying an additional 1,500 shares in the last quarter. Finally, Capital Investment Advisory Services LLC bought a new position in Dropbox in the fourth quarter valued at approximately $57,000. 32.48% of the stock is currently owned by institutional investors.
A number of research analysts have weighed in on the stock. Bank of America raised shares of Dropbox from a “neutral” rating to a “buy” rating and set a $33.00 price target on the stock in a research note on Friday, February 22nd. Jefferies Financial Group cut their price target on shares of Dropbox to $32.00 in a research note on Friday, February 22nd. ValuEngine lowered shares of Dropbox from a “buy” rating to a “hold” rating in a research note on Monday, February 4th. Finally, Zacks Investment Research raised shares of Dropbox from a “hold” rating to a “buy” rating and set a $27.00 price target on the stock in a research note on Tuesday, April 30th. Three analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus target price of $31.71.
Shares of NASDAQ DBX traded up $1.46 during midday trading on Thursday, reaching $23.65. The company’s stock had a trading volume of 1,180,975 shares, compared to its average volume of 3,111,694. The company has a quick ratio of 1.45, a current ratio of 1.16 and a debt-to-equity ratio of 0.78. Dropbox Inc has a fifty-two week low of $18.50 and a fifty-two week high of $43.50. The company has a market capitalization of $9.39 billion, a PE ratio of -18.05 and a beta of 1.43.
Dropbox (NASDAQ:DBX) last posted its quarterly earnings data on Thursday, May 9th. The company reported ($0.01) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.06) by $0.05. Dropbox had a negative net margin of 1.85% and a negative return on equity of 3.50%. The company had revenue of $385.60 million for the quarter, compared to the consensus estimate of $381.58 million. During the same period last year, the company earned $0.08 earnings per share. The firm’s revenue was up 21.9% compared to the same quarter last year. As a group, sell-side analysts expect that Dropbox Inc will post -0.16 EPS for the current year.
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Dropbox, Inc provides a collaboration platform worldwide. Its platform allows individuals, 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. The company has approximately 500 million registered users across 180 countries.
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