Arrowstreet Capital Limited Partnership Raises Holdings in Dropbox, Inc. (NASDAQ:DBX)

Arrowstreet Capital Limited Partnership increased its holdings in Dropbox, Inc. (NASDAQ:DBX) by 38.1% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 5,224,864 shares of the company’s stock after purchasing an additional 1,440,887 shares during the quarter. Arrowstreet Capital Limited Partnership’s holdings in Dropbox were worth $156,955,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of DBX. Allworth Financial LP grew its position in shares of Dropbox by 33.5% in the 4th quarter. Allworth Financial LP now owns 1,456 shares of the company’s stock worth $45,000 after buying an additional 365 shares during the last quarter. Heron Bay Capital Management grew its holdings in Dropbox by 2.3% in the fourth quarter. Heron Bay Capital Management now owns 16,769 shares of the company’s stock worth $504,000 after purchasing an additional 378 shares during the last quarter. EverSource Wealth Advisors LLC increased its position in shares of Dropbox by 96.1% during the fourth quarter. EverSource Wealth Advisors LLC now owns 865 shares of the company’s stock worth $26,000 after purchasing an additional 424 shares in the last quarter. Quarry LP lifted its holdings in shares of Dropbox by 23.4% during the 3rd quarter. Quarry LP now owns 2,424 shares of the company’s stock valued at $62,000 after purchasing an additional 459 shares during the last quarter. Finally, Aaron Wealth Advisors LLC boosted its position in shares of Dropbox by 4.8% in the 4th quarter. Aaron Wealth Advisors LLC now owns 10,151 shares of the company’s stock worth $305,000 after purchasing an additional 461 shares in the last quarter. Hedge funds and other institutional investors own 94.84% of the company’s stock.

Dropbox Trading Down 1.4 %

NASDAQ DBX opened at $26.56 on Monday. Dropbox, Inc. has a 12-month low of $20.68 and a 12-month high of $33.33. The company has a fifty day simple moving average of $29.03 and a two-hundred day simple moving average of $28.09. The stock has a market cap of $8.01 billion, a P/E ratio of 18.84, a P/E/G ratio of 1.70 and a beta of 0.77.

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

Wall Street Analyst Weigh In

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

Insider Activity at Dropbox

In other Dropbox news, CFO Timothy Regan sold 2,500 shares of the stock in a transaction dated Friday, February 7th. The stock was sold at an average price of $32.19, for a total transaction of $80,475.00. Following the sale, the chief financial officer now directly owns 396,264 shares of the company’s stock, valued at approximately $12,755,738.16. This trade represents a 0.63 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Andrew Houston sold 500,323 shares of the business’s stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $29.65, for a total value of $14,834,576.95. Following the completion of the transaction, the chief executive officer now directly owns 8,266,666 shares of the company’s stock, valued at approximately $245,106,646.90. This trade represents a 5.71 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 632,004 shares of company stock worth $18,859,580 over the last quarter. Insiders own 28.59% of the company’s stock.

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.