Dropbox, Inc. (NASDAQ:DBX) Holdings Raised by LSV Asset Management

LSV Asset Management lifted its position in Dropbox, Inc. (NASDAQ:DBX) by 119.4% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 3,305,730 shares of the company’s stock after acquiring an additional 1,799,030 shares during the period. LSV Asset Management’s holdings in Dropbox were worth $97,453,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in DBX. GAMMA Investing LLC purchased a new position in Dropbox during the 4th quarter valued at about $25,000. Contravisory Investment Management Inc. purchased a new position in Dropbox during the fourth quarter valued at approximately $26,000. Fifth Third Bancorp increased its stake in Dropbox by 424.2% in the 3rd quarter. Fifth Third Bancorp now owns 1,085 shares of the company’s stock valued at $30,000 after buying an additional 878 shares during the period. Cary Street Partners Investment Advisory LLC lifted its position in Dropbox by 29,175.0% in the 3rd quarter. Cary Street Partners Investment Advisory LLC now owns 1,171 shares of the company’s stock worth $32,000 after buying an additional 1,167 shares in the last quarter. Finally, Kingswood Wealth Advisors LLC acquired a new stake in shares of Dropbox during the 3rd quarter valued at $62,000. Hedge funds and other institutional investors own 94.84% of the company’s stock.

Insider Transactions at Dropbox

In other news, CFO Timothy Regan sold 3,000 shares of the stock in a transaction on Friday, March 15th. The shares were sold at an average price of $24.02, for a total value of $72,060.00. Following the completion of the transaction, the chief financial officer now owns 403,720 shares in the company, valued at approximately $9,697,354.40. The sale was disclosed in a filing with the SEC, which is available at this link. In other Dropbox news, CFO Timothy Regan sold 3,000 shares of Dropbox stock in a transaction that occurred on Friday, March 15th. The stock was sold at an average price of $24.02, for a total transaction of $72,060.00. Following the sale, the chief financial officer now directly owns 403,720 shares of the company’s stock, valued at $9,697,354.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Bart Volkmer sold 6,682 shares of the stock in a transaction that occurred on Monday, April 15th. The stock was sold at an average price of $23.12, for a total value of $154,487.84. Following the completion of the transaction, the insider now directly owns 372,332 shares of the company’s stock, valued at $8,608,315.84. The disclosure for this sale can be found here. In the last quarter, insiders have sold 271,721 shares of company stock valued at $6,443,955. 26.40% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the company. JPMorgan Chase & Co. downgraded Dropbox from an “overweight” rating to a “neutral” rating and lowered their target price for the company from $33.00 to $30.00 in a research note on Friday, February 16th. The Goldman Sachs Group downgraded shares of Dropbox from a “neutral” rating to a “sell” rating and decreased their target price for the stock from $26.00 to $24.00 in a research report on Friday, February 16th. KeyCorp raised their price target on shares of Dropbox from $32.00 to $37.00 and gave the company an “overweight” rating in a report on Friday, January 19th. Bank of America cut shares of Dropbox from a “buy” rating to an “underperform” rating and decreased their price objective for the stock from $34.00 to $28.00 in a report on Friday, February 16th. Finally, JMP Securities lowered Dropbox from an “outperform” rating to a “market perform” rating in a report on Friday, February 16th. Three equities research analysts have rated the stock with a sell rating, four have issued a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $29.78.

Dropbox Stock Performance

Shares of NASDAQ:DBX traded down $0.22 during midday trading on Friday, hitting $23.37. The company’s stock had a trading volume of 5,040,096 shares, compared to its average volume of 2,918,350. Dropbox, Inc. has a fifty-two week low of $19.55 and a fifty-two week high of $33.43. The stock has a market capitalization of $8.04 billion, a price-to-earnings ratio of 17.70, a PEG ratio of 2.65 and a beta of 0.70. The stock’s 50 day simple moving average is $23.76 and its 200 day simple moving average is $27.15.

Dropbox (NASDAQ:DBX) last issued its quarterly earnings results on Thursday, February 15th. The company reported $0.25 EPS for the quarter, missing the consensus estimate of $0.26 by ($0.01). Dropbox had a negative return on equity of 120.82% and a net margin of 18.13%. The business had revenue of $635.00 million during the quarter, compared to the consensus estimate of $630.77 million. As a group, analysts anticipate that Dropbox, Inc. will post 1.14 EPS for the current year.

Dropbox 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.