Handelsinvest Investeringsforvaltning Has $152,000 Stake in Dropbox, Inc. (NASDAQ:DBX)

Handelsinvest Investeringsforvaltning lessened its holdings in shares of Dropbox, Inc. (NASDAQ:DBX) by 34.2% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,259 shares of the company’s stock after selling 3,249 shares during the quarter. Handelsinvest Investeringsforvaltning’s holdings in Dropbox were worth $152,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. LSV Asset Management grew its stake in shares of Dropbox by 119.4% in the 4th quarter. LSV Asset Management now owns 3,305,730 shares of the company’s stock worth $97,453,000 after acquiring an additional 1,799,030 shares in the last quarter. DekaBank Deutsche Girozentrale lifted its holdings in shares of Dropbox by 65.8% in the fourth quarter. DekaBank Deutsche Girozentrale now owns 2,189,593 shares of the company’s stock worth $64,825,000 after buying an additional 869,043 shares in the last quarter. Norges Bank purchased a new stake in shares of Dropbox in the fourth quarter worth about $19,361,000. Bank of Nova Scotia lifted its holdings in shares of Dropbox by 7,701.9% in the fourth quarter. Bank of Nova Scotia now owns 618,456 shares of the company’s stock worth $18,231,000 after buying an additional 610,529 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC lifted its holdings in shares of Dropbox by 936.8% in the first quarter. Allspring Global Investments Holdings LLC now owns 312,295 shares of the company’s stock worth $7,589,000 after buying an additional 282,173 shares in the last quarter. Institutional investors own 94.84% of the company’s stock.

Insider Buying and Selling

In other Dropbox news, CEO Andrew Houston sold 82,000 shares of the firm’s stock in a transaction on Wednesday, May 1st. The stock was sold at an average price of $23.44, for a total transaction of $1,922,080.00. Following the completion of the transaction, the chief executive officer now owns 8,266,666 shares of the company’s stock, valued at $193,770,651.04. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other news, CFO Timothy Regan sold 3,000 shares of the firm’s stock in a transaction on Tuesday, April 30th. The stock was sold at an average price of $23.60, for a total transaction of $70,800.00. Following the completion of the transaction, the chief financial officer now directly owns 591,995 shares in the company, valued at $13,971,082. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Andrew Houston sold 82,000 shares of the firm’s stock in a transaction on Wednesday, May 1st. The shares were sold at an average price of $23.44, for a total value of $1,922,080.00. Following the transaction, the chief executive officer now owns 8,266,666 shares of the company’s stock, valued at $193,770,651.04. The disclosure for this sale can be found here. Insiders sold 293,218 shares of company stock valued at $6,661,709 over the last quarter. 26.40% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Separately, Citigroup decreased their price objective on shares of Dropbox from $26.00 to $25.00 and set a “neutral” rating on the stock in a research report on Wednesday, June 26th. Three equities research analysts have rated the stock with a sell rating, four have given a hold rating and three have given a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $29.56.

Dropbox Stock Performance

Shares of Dropbox stock opened at $22.63 on Thursday. Dropbox, Inc. has a 52-week low of $20.68 and a 52-week high of $33.43. The stock has a market capitalization of $7.47 billion, a price-to-earnings ratio of 14.99, a P/E/G ratio of 1.56 and a beta of 0.65. The company’s 50 day moving average price is $22.63 and its 200-day moving average price is $25.67.

Dropbox (NASDAQ:DBX) last issued its earnings results on Thursday, May 9th. The company reported $0.41 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.28 by $0.13. Dropbox had a net margin of 20.50% and a negative return on equity of 148.13%. The firm had revenue of $631.30 million for the quarter, compared to analysts’ expectations of $628.81 million. As a group, equities research analysts forecast that Dropbox, Inc. will post 1.26 earnings per share for the current fiscal 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.