Dropbox, Inc. $DBX Stock Position Raised by Wedge Capital Management L L P NC

Wedge Capital Management L L P NC increased its position in Dropbox, Inc. (NASDAQ:DBX) by 2.7% in the third quarter, according to its most recent 13F filing with the SEC. The firm owned 2,287,185 shares of the company’s stock after purchasing an additional 59,625 shares during the period. Dropbox comprises about 1.2% of Wedge Capital Management L L P NC’s investment portfolio, making the stock its 13th biggest holding. Wedge Capital Management L L P NC owned 0.85% of Dropbox worth $69,096,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in the company. Acadian Asset Management LLC boosted its position in shares of Dropbox by 1.9% in the first quarter. Acadian Asset Management LLC now owns 8,544,978 shares of the company’s stock worth $228,202,000 after buying an additional 157,148 shares during the period. LSV Asset Management boosted its position in Dropbox by 10.2% during the 2nd quarter. LSV Asset Management now owns 8,408,502 shares of the company’s stock worth $240,483,000 after acquiring an additional 774,986 shares during the period. Arrowstreet Capital Limited Partnership grew its stake in Dropbox by 10.0% during the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 6,662,161 shares of the company’s stock valued at $190,538,000 after acquiring an additional 605,258 shares in the last quarter. Caisse DE Depot ET Placement DU Quebec increased its holdings in shares of Dropbox by 38.1% in the 1st quarter. Caisse DE Depot ET Placement DU Quebec now owns 2,482,705 shares of the company’s stock valued at $66,313,000 after purchasing an additional 684,882 shares during the period. Finally, Northern Trust Corp increased its holdings in shares of Dropbox by 2.9% in the 1st quarter. Northern Trust Corp now owns 2,215,796 shares of the company’s stock valued at $59,184,000 after purchasing an additional 62,493 shares during the period. 94.84% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the stock. UBS Group lowered shares of Dropbox from a “neutral” rating to a “sell” rating and dropped their price objective for the company from $29.00 to $27.00 in a research note on Thursday, September 18th. Wall Street Zen upgraded shares of Dropbox from a “hold” rating to a “buy” rating in a report on Saturday, November 8th. Royal Bank Of Canada increased their price objective on Dropbox from $35.00 to $38.00 and gave the stock an “outperform” rating in a report on Friday, November 7th. Finally, Weiss Ratings restated a “hold (c+)” rating on shares of Dropbox in a research note on Wednesday, October 8th. One investment analyst has rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $31.75.

Insider Activity at Dropbox

In other news, CTO Ali Dasdan sold 5,666 shares of the stock in a transaction dated Monday, November 24th. The stock was sold at an average price of $30.00, for a total transaction of $169,980.00. Following the transaction, the chief technology officer owned 520,474 shares of the company’s stock, valued at approximately $15,614,220. This represents a 1.08% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Timothy Regan sold 1,500 shares of the business’s stock in a transaction that occurred on Friday, November 28th. The stock was sold at an average price of $29.64, for a total value of $44,460.00. Following the completion of the sale, the chief financial officer owned 439,147 shares of the company’s stock, valued at approximately $13,016,317.08. This trade represents a 0.34% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 362,915 shares of company stock worth $10,793,706 in the last 90 days. Insiders own 29.95% of the company’s stock.

Dropbox Stock Up 0.9%

DBX stock opened at $28.69 on Friday. The firm has a 50 day moving average of $29.27 and a two-hundred day moving average of $28.88. Dropbox, Inc. has a 12 month low of $24.42 and a 12 month high of $33.33. The company has a market capitalization of $7.42 billion, a price-to-earnings ratio of 16.21, a P/E/G ratio of 2.45 and a beta of 0.63.

Dropbox (NASDAQ:DBX) last released its quarterly earnings data on Thursday, November 6th. The company reported $0.74 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.64 by $0.10. The business had revenue of $634.40 million during the quarter, compared to analyst estimates of $623.59 million. Dropbox had a net margin of 19.87% and a negative return on equity of 49.51%. Dropbox’s quarterly revenue was down .7% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.60 EPS. On average, research analysts expect that Dropbox, Inc. will post 1.64 EPS for the current fiscal year.

About Dropbox

Dropbox, Inc (NASDAQ: DBX) is a leading provider of cloud-based file storage, collaboration, and productivity tools. Founded in 2007 and headquartered in San Francisco, California, the company offers a suite of services designed to help individuals and organizations securely store, share, and manage digital content. Dropbox has grown from a simple file-syncing application into an integrated collaboration platform used by millions of customers around the globe.

At its core, Dropbox provides cloud storage plans tailored for consumers and businesses.