Brandywine Global Investment Management LLC Invests $4.11 Million in Dropbox, Inc. (NASDAQ:DBX)

Brandywine Global Investment Management LLC acquired a new stake in Dropbox, Inc. (NASDAQ:DBX) in the 4th quarter, Holdings Channel.com reports. The institutional investor acquired 136,660 shares of the company’s stock, valued at approximately $4,105,000.

A number of other hedge funds also recently added to or reduced their stakes in the business. EverSource Wealth Advisors LLC increased its holdings in shares of Dropbox by 96.1% in the 4th quarter. EverSource Wealth Advisors LLC now owns 865 shares of the company’s stock valued at $26,000 after acquiring an additional 424 shares during the period. Avion Wealth lifted its position in shares of Dropbox by 4,472.7% during the fourth quarter. Avion Wealth now owns 1,006 shares of the company’s stock valued at $30,000 after buying an additional 984 shares during the last quarter. SBI Securities Co. Ltd. bought a new stake in shares of Dropbox in the 4th quarter valued at about $40,000. 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. Finally, V Square Quantitative Management LLC raised its stake in shares of Dropbox by 39.0% during the 4th quarter. V Square Quantitative Management LLC now owns 1,717 shares of the company’s stock worth $52,000 after acquiring an additional 482 shares in the last quarter. 94.84% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, CEO Andrew Houston sold 500,323 shares of Dropbox stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $29.65, for a total transaction of $14,834,576.95. Following the completion of the sale, the chief executive officer now owns 8,266,666 shares of the company’s stock, valued at $245,106,646.90. The trade was a 5.71 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Timothy Regan sold 2,500 shares of the stock in a transaction that occurred on Friday, February 7th. The stock was sold at an average price of $32.19, for a total transaction of $80,475.00. Following the completion of the transaction, the chief financial officer now owns 396,264 shares in the company, valued at approximately $12,755,738.16. This trade represents a 0.63 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 634,504 shares of company stock valued at $18,926,005. 28.59% of the stock is owned by company insiders.

Dropbox Stock Up 1.8 %

DBX opened at $27.18 on Wednesday. The company has a market cap of $8.20 billion, a P/E ratio of 19.28, a price-to-earnings-growth ratio of 1.70 and a beta of 0.77. The firm’s 50-day moving average price is $28.87 and its 200-day moving average price is $28.13. Dropbox, Inc. has a 52-week low of $20.68 and a 52-week high of $33.33.

Dropbox (NASDAQ:DBX) last posted its quarterly earnings results on Thursday, February 20th. The company reported $0.51 earnings per share (EPS) 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 company had revenue of $643.60 million during the quarter, compared to analysts’ expectations of $638.61 million. On average, research analysts anticipate that Dropbox, Inc. will post 1.64 EPS for the current fiscal year.

Analyst Ratings Changes

Separately, Jefferies Financial Group lifted their price target on shares of Dropbox from $27.00 to $30.00 and gave the stock a “hold” rating in a report on Monday, January 6th.

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.