Russell Investments Group Ltd. raised its position in Dropbox, Inc. (NASDAQ:DBX) by 10.8% during the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 952,798 shares of the company’s stock after acquiring an additional 92,865 shares during the period. Russell Investments Group Ltd. owned about 0.23% of Dropbox worth $21,200,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in DBX. Gamco Investors INC. ET AL bought a new stake in Dropbox in the 4th quarter valued at $222,000. Aperio Group LLC grew its holdings in shares of Dropbox by 5.6% during the 4th quarter. Aperio Group LLC now owns 98,587 shares of the company’s stock worth $2,188,000 after purchasing an additional 5,260 shares in the last quarter. Malaga Cove Capital LLC grew its holdings in shares of Dropbox by 46.9% during the 4th quarter. Malaga Cove Capital LLC now owns 34,220 shares of the company’s stock worth $765,000 after purchasing an additional 10,920 shares in the last quarter. Y Intercept Hong Kong Ltd bought a new stake in shares of Dropbox during the 4th quarter worth $615,000. Finally, Swiss National Bank lifted its position in shares of Dropbox by 22.2% during the 4th quarter. Swiss National Bank now owns 1,191,296 shares of the company’s stock worth $26,435,000 after buying an additional 216,700 shares during the last quarter. Hedge funds and other institutional investors own 62.02% of the company’s stock.
DBX has been the subject of a number of analyst reports. Zacks Investment Research downgraded Dropbox from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, January 6th. KeyCorp initiated coverage on Dropbox in a research note on Friday, January 15th. They issued a “sector weight” rating for the company. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and four have given a buy rating to the company’s stock. Dropbox has a consensus rating of “Hold” and a consensus target price of $26.86.
DBX opened at $22.50 on Tuesday. The business has a 50 day simple moving average of $23.15 and a two-hundred day simple moving average of $21.00. The firm has a market capitalization of $9.31 billion, a price-to-earnings ratio of 118.42, a PEG ratio of 2.14 and a beta of 0.89. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.30 and a quick ratio of 1.30. Dropbox, Inc. has a one year low of $14.55 and a one year high of $25.70.
Dropbox (NASDAQ:DBX) last announced its earnings results on Wednesday, February 17th. The company reported $0.28 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.24 by $0.04. Dropbox had a return on equity of 15.02% and a net margin of 4.47%. As a group, sell-side analysts expect that Dropbox, Inc. will post 0.23 EPS for the current fiscal year.
Dropbox, Inc provides a collaboration platform worldwide. The company's 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. As of December 31, 2019, it had approximately 600 million registered users across 180 countries.
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