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

Arrowstreet Capital Limited Partnership grew its position in shares of Dropbox, Inc. (NASDAQ:DBX) by 38.1% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 5,224,864 shares of the company’s stock after acquiring an additional 1,440,887 shares during the quarter. Arrowstreet Capital Limited Partnership owned about 1.69% of Dropbox worth $156,955,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of DBX. Orion Portfolio Solutions LLC increased its holdings in shares of Dropbox by 18.2% in the 4th quarter. Orion Portfolio Solutions LLC now owns 31,975 shares of the company’s stock worth $961,000 after buying an additional 4,915 shares during the last quarter. denkapparat Operations GmbH purchased a new position in Dropbox in the fourth quarter worth about $284,000. Pictet Asset Management Holding SA grew its position in Dropbox by 10.5% in the fourth quarter. Pictet Asset Management Holding SA now owns 34,810 shares of the company’s stock worth $1,046,000 after acquiring an additional 3,297 shares in the last quarter. New Age Alpha Advisors LLC purchased a new stake in Dropbox during the fourth quarter valued at approximately $1,578,000. Finally, Norges Bank bought a new stake in shares of Dropbox in the 4th quarter valued at approximately $20,482,000. Institutional investors own 94.84% of the company’s stock.

Dropbox Trading Down 1.4 %

DBX stock 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 stock has a market cap of $8.01 billion, a PE ratio of 18.84, a P/E/G ratio of 1.70 and a beta of 0.77. The company has a 50-day moving average price of $29.03 and a 200 day moving average price of $28.09.

Dropbox (NASDAQ:DBX) last released its 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). Dropbox had a net margin of 17.75% and a negative return on equity of 132.63%. The business had revenue of $643.60 million for the quarter, compared to the consensus estimate of $638.61 million. Sell-side analysts forecast that Dropbox, Inc. will post 1.64 EPS for the current year.

Wall Street Analyst Weigh In

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

Insider Buying and Selling at Dropbox

In other news, insider Eric Cox sold 3,765 shares of the firm’s stock in a transaction that occurred on Thursday, February 27th. The shares were sold at an average price of $26.30, for a total transaction of $99,019.50. Following the transaction, the insider now directly owns 309,550 shares of the company’s stock, valued at approximately $8,141,165. This trade represents a 1.20 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Andrew Houston sold 500,323 shares of the business’s stock in a transaction that occurred on 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 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 position. The disclosure for this sale can be found here. Insiders have sold 632,004 shares of company stock valued at $18,859,580 in the last quarter. 28.59% of the stock is owned by 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.