KLP Kapitalforvaltning AS Takes $25.38 Million Position in Dropbox, Inc. (NASDAQ:DBX)

KLP Kapitalforvaltning AS acquired a new position in Dropbox, Inc. (NASDAQ:DBX) in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 844,700 shares of the company’s stock, valued at approximately $25,375,000. KLP Kapitalforvaltning AS owned 0.27% of Dropbox as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the business. EverSource Wealth Advisors LLC boosted its stake in Dropbox by 96.1% in the 4th quarter. EverSource Wealth Advisors LLC now owns 865 shares of the company’s stock worth $26,000 after purchasing an additional 424 shares during the period. Avion Wealth boosted 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 worth $30,000 after acquiring an additional 984 shares during the last quarter. SBI Securities Co. Ltd. purchased a new position in Dropbox during the fourth quarter valued at $40,000. Allworth Financial LP grew its stake in Dropbox by 33.5% during the fourth quarter. Allworth Financial LP now owns 1,456 shares of the company’s stock valued at $45,000 after acquiring an additional 365 shares in the last quarter. Finally, V Square Quantitative Management LLC increased its holdings in shares of Dropbox by 39.0% in the fourth quarter. V Square Quantitative Management LLC now owns 1,717 shares of the company’s stock worth $52,000 after purchasing an additional 482 shares during the last quarter. Hedge funds and other institutional investors own 94.84% of the company’s stock.

Insider Activity

In related news, CEO Andrew Houston sold 500,323 shares of the firm’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 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 sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Eric Cox sold 3,765 shares of the company’s stock in a transaction dated Thursday, February 27th. The shares were sold at an average price of $26.30, for a total transaction of $99,019.50. Following the sale, the insider now directly owns 309,550 shares of the company’s stock, valued at approximately $8,141,165. This represents a 1.20 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 634,504 shares of company stock valued at $18,935,530 in the last quarter. 28.59% of the stock is currently owned by company insiders.

Dropbox Trading Up 0.5 %

DBX opened at $26.50 on Friday. The stock has a fifty day moving average price of $29.36 and a 200-day moving average price of $27.94. Dropbox, Inc. has a 12 month low of $20.68 and a 12 month high of $33.33. The firm has a market cap of $8.00 billion, a price-to-earnings ratio of 18.79, a PEG ratio of 1.70 and a beta of 0.77.

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

Analyst Ratings Changes

Separately, Jefferies Financial Group raised their price objective on Dropbox from $27.00 to $30.00 and gave the company a “hold” rating in a research note 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.