KBC Group NV Buys 105,876 Shares of Dropbox, Inc. $DBX

KBC Group NV increased its stake in Dropbox, Inc. (NASDAQ:DBX) by 12.6% in the 1st quarter, HoldingsChannel.com reports. The firm owned 944,829 shares of the company’s stock after acquiring an additional 105,876 shares during the period. KBC Group NV’s holdings in Dropbox were worth $21,466,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of DBX. Palisade Asset Management LLC bought a new position in Dropbox in the 3rd quarter valued at $30,000. Kestra Advisory Services LLC bought a new stake in shares of Dropbox during the fourth quarter worth $31,000. Larson Financial Group LLC lifted its stake in shares of Dropbox by 228.0% during the fourth quarter. Larson Financial Group LLC now owns 1,138 shares of the company’s stock valued at $32,000 after acquiring an additional 791 shares during the period. Geneos Wealth Management Inc. lifted its stake in shares of Dropbox by 78.0% during the second quarter. Geneos Wealth Management Inc. now owns 1,273 shares of the company’s stock valued at $36,000 after acquiring an additional 558 shares during the period. Finally, Caitong International Asset Management Co. Ltd bought a new position in Dropbox in the fourth quarter valued at about $38,000. Institutional investors and hedge funds own 94.84% of the company’s stock.

Dropbox Stock Down 3.6%

Shares of Dropbox stock opened at $29.42 on Wednesday. The business has a fifty day simple moving average of $27.70 and a 200 day simple moving average of $25.98. The stock has a market cap of $6.86 billion, a PE ratio of 16.08, a price-to-earnings-growth ratio of 3.34 and a beta of 0.66. Dropbox, Inc. has a 12 month low of $21.69 and a 12 month high of $32.40.

Dropbox (NASDAQ:DBX) last released its earnings results on Thursday, May 7th. The company reported $0.76 earnings per share for the quarter, beating the consensus estimate of $0.71 by $0.05. Dropbox had a negative return on equity of 30.01% and a net margin of 18.71%.The firm had revenue of $629.50 million for the quarter, compared to analyst estimates of $620.56 million. During the same quarter in the prior year, the firm posted $0.70 earnings per share. The company’s quarterly revenue was up .8% on a year-over-year basis. Analysts expect that Dropbox, Inc. will post 2.09 EPS for the current fiscal year.

Insiders Place Their Bets

In other Dropbox news, CEO Ashraf Alkarmi sold 22,700 shares of the company’s stock in a transaction that occurred on Tuesday, June 2nd. The shares were sold at an average price of $27.86, for a total value of $632,422.00. Following the completion of the sale, the chief executive officer owned 1,080,746 shares of the company’s stock, valued at approximately $30,109,583.56. This represents a 2.06% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Andrew William Moore sold 8,443 shares of the stock in a transaction on Monday, May 18th. The stock was sold at an average price of $27.57, for a total transaction of $232,773.51. Following the completion of the sale, the director owned 4,737 shares in the company, valued at approximately $130,599.09. This trade represents a 64.06% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 129,082 shares of company stock worth $3,489,910 over the last ninety days. Company insiders own 35.48% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently commented on the company. Weiss Ratings reiterated a “hold (c)” rating on shares of Dropbox in a research report on Monday, May 4th. Citigroup upped their target price on shares of Dropbox from $27.00 to $28.00 and gave the company a “neutral” rating in a research report on Monday, May 11th. Royal Bank Of Canada reaffirmed an “outperform” rating on shares of Dropbox in a research note on Monday, June 1st. Finally, Wall Street Zen upgraded shares of Dropbox from a “hold” rating to a “buy” rating in a research report on Sunday, June 28th. One analyst has rated the stock with a Buy rating, three have issued a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, the company has an average rating of “Reduce” and an average price target of $27.00.

Dropbox Company Profile

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.