Fisher Asset Management LLC Has $5.90 Million Stake in Dropbox, Inc. (NASDAQ:DBX)

Fisher Asset Management LLC raised its holdings in Dropbox, Inc. (NASDAQ:DBX) by 26.6% during the 4th quarter, Holdings Channel reports. The institutional investor owned 196,406 shares of the company’s stock after acquiring an additional 41,275 shares during the quarter. Fisher Asset Management LLC’s holdings in Dropbox were worth $5,900,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in DBX. Caisse DE Depot ET Placement DU Quebec bought a new position in shares of Dropbox in the 3rd quarter valued at about $11,687,000. Jacobs Levy Equity Management Inc. boosted its position 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 during the last quarter. Pacer Advisors Inc. grew its stake in 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 in the last quarter. Algert Global LLC increased its position in shares of Dropbox by 414.9% during the 3rd 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 during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its stake 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 in the last quarter. 94.84% of the stock is owned by institutional investors.

Insider Buying and Selling at Dropbox

In related news, CFO Timothy Regan sold 2,500 shares of Dropbox stock in a transaction that occurred on Monday, December 30th. The stock was sold at an average price of $30.38, for a total transaction of $75,950.00. Following the completion of the sale, the chief financial officer now directly owns 413,764 shares of the company’s stock, valued at approximately $12,570,150.32. This trade represents a 0.60 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Andrew Houston sold 137,499 shares of the company’s stock in a transaction on Wednesday, December 11th. The shares were sold at an average price of $30.05, for a total value of $4,131,844.95. Following the completion of the transaction, the chief executive officer now directly owns 8,266,666 shares in the company, valued at approximately $248,413,313.30. This represents a 1.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 772,003 shares of company stock valued at $23,067,375 in the last quarter. 28.59% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

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

Dropbox Stock Performance

Shares of NASDAQ:DBX opened at $26.32 on Wednesday. Dropbox, Inc. has a 52-week low of $20.68 and a 52-week high of $33.33. The company has a market capitalization of $7.94 billion, a P/E ratio of 18.67, a price-to-earnings-growth ratio of 1.70 and a beta of 0.77. The company has a 50-day simple moving average of $30.43 and a 200 day simple moving average of $27.82.

Dropbox (NASDAQ:DBX) last released its quarterly earnings data 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). The business had revenue of $643.60 million during the quarter, compared to analyst estimates of $638.61 million. Dropbox had a net margin of 17.75% and a negative return on equity of 132.63%. As a group, equities analysts forecast that Dropbox, Inc. will post 1.64 earnings per share for the current year.

Dropbox Company 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.