Ieq Capital LLC Buys 22,521 Shares of Dropbox, Inc. (NASDAQ:DBX)

Ieq Capital LLC grew its position in shares of Dropbox, Inc. (NASDAQ:DBX) by 10.2% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 243,821 shares of the company’s stock after purchasing an additional 22,521 shares during the quarter. Ieq Capital LLC owned approximately 0.08% of Dropbox worth $7,324,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in the business. Pacer Advisors Inc. lifted its stake 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 worth $198,065,000 after acquiring an additional 333,245 shares during the period. Jacobs Levy Equity Management Inc. lifted its holdings in shares of Dropbox by 6.2% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 6,239,493 shares of the company’s stock worth $158,670,000 after purchasing an additional 365,893 shares in the last quarter. Geode Capital Management LLC lifted its stake in shares of Dropbox by 0.6% in the third quarter. Geode Capital Management LLC now owns 4,366,271 shares of the company’s stock valued at $111,368,000 after buying an additional 25,893 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its position in Dropbox by 8.9% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,796,238 shares of the company’s stock valued at $71,108,000 after acquiring an additional 228,685 shares in the last quarter. Finally, Robeco Institutional Asset Management B.V. boosted its position in shares of Dropbox by 6.1% during the third quarter. Robeco Institutional Asset Management B.V. now owns 2,355,762 shares of the company’s stock valued at $59,907,000 after buying an additional 134,503 shares during the last quarter. 94.84% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Separately, Jefferies Financial Group boosted 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 Stock Down 2.4 %

Dropbox stock opened at $31.88 on Friday. The firm has a 50 day moving average price of $31.06 and a 200-day moving average price of $27.51. Dropbox, Inc. has a twelve month low of $20.68 and a twelve month high of $33.33. The company has a market capitalization of $9.87 billion, a P/E ratio of 18.43, a P/E/G ratio of 1.77 and a beta of 0.61.

Dropbox (NASDAQ:DBX) last issued its 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 135.85% and a net margin of 22.71%. Equities analysts expect that Dropbox, Inc. will post 1.49 EPS for the current fiscal year.

Insider Activity at Dropbox

In related news, CEO Andrew Houston sold 500,323 shares of Dropbox stock in a transaction on 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 approximately $245,106,646.90. This trade represents a 5.71 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Timothy Regan sold 10,000 shares of the company’s stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $29.65, for a total transaction of $296,500.00. Following the completion of the transaction, the chief financial officer now owns 403,764 shares in the company, valued at approximately $11,971,602.60. This trade represents a 2.42 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 900,238 shares of company stock worth $26,680,195. 28.59% of the stock is owned by company insiders.

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.