Dimensional Fund Advisors LP Acquires 986,942 Shares of Dropbox, Inc. (NASDAQ:DBX)

Dimensional Fund Advisors LP increased its position in Dropbox, Inc. (NASDAQ:DBX) by 63.7% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,536,412 shares of the company’s stock after purchasing an additional 986,942 shares during the quarter. Dimensional Fund Advisors LP owned approximately 0.77% of Dropbox worth $56,994,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of DBX. Norges Bank bought a new stake in Dropbox during the 4th quarter valued at $19,361,000. US Bancorp DE boosted its position in Dropbox by 67.4% during the 4th quarter. US Bancorp DE now owns 44,194 shares of the company’s stock valued at $1,303,000 after acquiring an additional 17,800 shares in the last quarter. Advisory Services Network LLC boosted its position in Dropbox by 6.2% during the 4th quarter. Advisory Services Network LLC now owns 15,382 shares of the company’s stock valued at $453,000 after acquiring an additional 893 shares in the last quarter. Hsbc Holdings PLC boosted its position in Dropbox by 224.5% during the 4th quarter. Hsbc Holdings PLC now owns 326,241 shares of the company’s stock valued at $9,624,000 after acquiring an additional 225,713 shares in the last quarter. Finally, Parallel Advisors LLC boosted its position in Dropbox by 7.4% during the 4th quarter. Parallel Advisors LLC now owns 6,642 shares of the company’s stock valued at $196,000 after acquiring an additional 459 shares in the last quarter. Institutional investors own 94.84% of the company’s stock.

Dropbox Price Performance

NASDAQ DBX opened at $25.31 on Friday. Dropbox, Inc. has a 1 year low of $20.68 and a 1 year high of $33.43. The company has a market capitalization of $8.36 billion, a PE ratio of 16.76, a P/E/G ratio of 1.55 and a beta of 0.61. The company has a fifty day moving average of $23.77 and a two-hundred day moving average of $23.27.

Dropbox (NASDAQ:DBX) last released its quarterly earnings data on Thursday, August 8th. The company reported $0.60 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.52 by $0.08. Dropbox had a net margin of 23.06% and a negative return on equity of 161.78%. The company had revenue of $634.50 million during the quarter, compared to the consensus estimate of $630.10 million. During the same quarter in the prior year, the firm posted $0.28 earnings per share. Dropbox’s revenue for the quarter was up 1.9% on a year-over-year basis. On average, research analysts expect that Dropbox, Inc. will post 1.31 earnings per share for the current year.

Wall Street Analyst Weigh In

DBX has been the subject of several analyst reports. Citigroup decreased their price objective on Dropbox from $26.00 to $25.00 and set a “neutral” rating for the company in a report on Wednesday, June 26th. UBS Group reduced their target price on Dropbox from $30.00 to $28.00 and set a “buy” rating for the company in a research note on Friday, August 9th. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $28.67.

Insider Buying and Selling

In other Dropbox news, CEO Andrew Houston sold 66,064 shares of the stock in a transaction dated Tuesday, September 24th. The shares were sold at an average price of $25.00, for a total value of $1,651,600.00. Following the completion of the transaction, the chief executive officer now directly owns 8,266,666 shares of the company’s stock, valued at $206,666,650. The sale was disclosed in a filing with the SEC, which is available at this link. In other news, CFO Timothy Regan sold 13,000 shares of the stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $22.33, for a total value of $290,290.00. Following the sale, the chief financial officer now directly owns 538,122 shares in the company, valued at $12,016,264.26. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Andrew Houston sold 66,064 shares of the stock in a transaction that occurred on Tuesday, September 24th. The shares were sold at an average price of $25.00, for a total transaction of $1,651,600.00. Following the completion of the sale, the chief executive officer now owns 8,266,666 shares in the company, valued at $206,666,650. The disclosure for this sale can be found here. Insiders sold 180,634 shares of company stock valued at $4,243,915 over the last ninety days. Corporate insiders own 26.40% of the company’s stock.

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.