SVB Wealth LLC Purchases New Shares in Dropbox, Inc. (NASDAQ:DBX)

SVB Wealth LLC acquired a new position in Dropbox, Inc. (NASDAQ:DBX) in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 7,662 shares of the company’s stock, valued at approximately $230,000.

Other hedge funds have also modified their holdings of the company. Caisse DE Depot ET Placement DU Quebec acquired a new stake in Dropbox in the 3rd quarter valued at $11,687,000. Jacobs Levy Equity Management Inc. lifted its holdings in Dropbox by 6.2% during the third quarter. Jacobs Levy Equity Management Inc. now owns 6,239,493 shares of the company’s stock valued at $158,670,000 after purchasing an additional 365,893 shares in the last quarter. Pacer Advisors Inc. grew its position in shares of Dropbox by 4.5% in the third quarter. Pacer Advisors Inc. now owns 7,788,652 shares of the company’s stock valued at $198,065,000 after purchasing an additional 333,245 shares during the period. Algert Global LLC increased its stake in shares of Dropbox by 414.9% during the third quarter. Algert Global LLC now owns 365,832 shares of the company’s stock worth $9,303,000 after purchasing an additional 294,780 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its position in shares of Dropbox by 8.9% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,796,238 shares of the company’s stock worth $71,108,000 after purchasing an additional 228,685 shares during the last quarter. 94.84% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Separately, Jefferies Financial Group boosted their price objective on Dropbox from $27.00 to $30.00 and gave the stock a “hold” rating in a research note on Monday, January 6th.

Insider Transactions at Dropbox

In other news, insider Eric Cox sold 3,765 shares of Dropbox stock in a transaction on Thursday, February 27th. The stock was sold at an average price of $26.30, for a total transaction of $99,019.50. Following the transaction, the insider now owns 309,550 shares in the company, valued at $8,141,165. The trade was a 1.20 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Timothy Regan sold 2,500 shares of the business’s stock in a transaction dated Monday, December 30th. The shares were sold at an average price of $30.38, for a total transaction of $75,950.00. Following the transaction, the chief financial officer now directly owns 413,764 shares in the company, valued at approximately $12,570,150.32. The trade was a 0.60 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 772,003 shares of company stock worth $23,067,375 in the last ninety days. Insiders own 28.59% of the company’s stock.

Dropbox Price Performance

Shares of DBX opened at $26.32 on Thursday. Dropbox, Inc. has a 52-week low of $20.68 and a 52-week high of $33.33. The stock has a market cap of $7.94 billion, a PE ratio of 18.67, a price-to-earnings-growth ratio of 1.70 and a beta of 0.77. The firm’s fifty day moving average is $30.34 and its two-hundred day moving average is $27.81.

Dropbox (NASDAQ:DBX) last posted its quarterly earnings results on Thursday, February 20th. The company reported $0.51 earnings per share for the quarter, missing analysts’ consensus estimates of $0.62 by ($0.11). Dropbox had a negative return on equity of 132.63% and a net margin of 17.75%. The business had revenue of $643.60 million for the quarter, compared to analyst estimates of $638.61 million. As a group, research analysts anticipate that Dropbox, Inc. will post 1.64 earnings per share for the current year.

About Dropbox

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.