Strategic Global Advisors LLC Invests $2.18 Million in Dropbox, Inc. (NASDAQ:DBX)

Strategic Global Advisors LLC bought a new position in Dropbox, Inc. (NASDAQ:DBX) during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 72,416 shares of the company’s stock, valued at approximately $2,175,000.

A number of other hedge funds have also recently modified their holdings of the stock. Empowered Funds LLC raised its holdings in Dropbox by 68.0% in the 4th quarter. Empowered Funds LLC now owns 36,140 shares of the company’s stock worth $1,086,000 after purchasing an additional 14,629 shares during the period. Exchange Traded Concepts LLC raised its holdings in Dropbox by 291.4% in the 4th quarter. Exchange Traded Concepts LLC now owns 124,991 shares of the company’s stock worth $3,755,000 after purchasing an additional 93,058 shares during the period. Blue Trust Inc. raised its holdings in Dropbox by 23.2% in the 4th quarter. Blue Trust Inc. now owns 3,616 shares of the company’s stock worth $109,000 after purchasing an additional 682 shares during the period. Janney Montgomery Scott LLC acquired a new position in Dropbox in the 4th quarter worth about $656,000. Finally, Intech Investment Management LLC raised its holdings in Dropbox by 185.2% in the 4th quarter. Intech Investment Management LLC now owns 150,488 shares of the company’s stock worth $4,521,000 after purchasing an additional 97,725 shares during the period. Hedge funds and other institutional investors own 94.84% of the company’s stock.

Insider Buying and Selling at Dropbox

In related news, CFO Timothy Regan sold 2,500 shares of the stock in a transaction that occurred on Wednesday, April 30th. The stock was sold at an average price of $28.29, for a total value of $70,725.00. Following the completion of the sale, the chief financial officer now owns 562,568 shares of the company’s stock, valued at approximately $15,915,048.72. This trade represents a 0.44% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Eric Cox sold 3,765 shares of the stock in a transaction that occurred on Thursday, February 27th. The shares were sold at an average price of $26.30, for a total value of $99,019.50. Following the completion of the sale, the insider now directly owns 309,550 shares of the company’s stock, valued at approximately $8,141,165. This represents a 1.20% decrease in their position. The disclosure for this sale can be found here. Insiders sold 11,265 shares of company stock valued at $303,520 over the last quarter. 29.95% of the stock is currently owned by insiders.

Dropbox Price Performance

Shares of Dropbox stock opened at $28.91 on Friday. The business has a 50 day simple moving average of $27.43 and a two-hundred day simple moving average of $28.66. Dropbox, Inc. has a 12 month low of $20.68 and a 12 month high of $33.33. The stock has a market capitalization of $8.14 billion, a P/E ratio of 20.50, a PEG ratio of 1.70 and a beta of 0.68.

Dropbox (NASDAQ:DBX) last announced its earnings results on Thursday, May 8th. The company reported $0.70 EPS for the quarter, beating analysts’ consensus estimates of $0.62 by $0.08. Dropbox had a negative return on equity of 132.63% and a net margin of 17.75%. The business had revenue of $624.70 million during the quarter, compared to analysts’ expectations of $619.56 million. During the same quarter in the prior year, the firm earned $0.58 earnings per share. The business’s revenue was down 1.0% compared to the same quarter last year. As a group, research analysts anticipate that Dropbox, Inc. will post 1.64 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on DBX shares. UBS Group upped their price target on Dropbox from $30.00 to $31.00 and gave the stock a “buy” rating in a report on Friday, May 9th. Citigroup upped their price target on Dropbox from $30.00 to $32.00 and gave the stock a “neutral” rating in a report on Friday, May 9th.

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.