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

Brandywine Global Investment Management LLC bought a new position in Dropbox, Inc. (NASDAQ:DBX) during the fourth quarter, according to its most recent disclosure with the SEC. The firm bought 136,660 shares of the company’s stock, valued at approximately $4,105,000.

Several other hedge funds have also bought and sold shares of the stock. EverSource Wealth Advisors LLC raised its position in shares of Dropbox by 96.1% during the fourth quarter. EverSource Wealth Advisors LLC now owns 865 shares of the company’s stock valued at $26,000 after buying an additional 424 shares during the last quarter. Avion Wealth boosted its holdings in shares of Dropbox by 4,472.7% during the 4th quarter. Avion Wealth now owns 1,006 shares of the company’s stock valued at $30,000 after purchasing an additional 984 shares during the last quarter. SBI Securities Co. Ltd. purchased a new position in shares of Dropbox during the fourth quarter valued at about $40,000. Allworth Financial LP increased its holdings in shares of Dropbox by 33.5% in the fourth quarter. Allworth Financial LP now owns 1,456 shares of the company’s stock worth $45,000 after purchasing an additional 365 shares during the last quarter. Finally, V Square Quantitative Management LLC lifted its position 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 buying an additional 482 shares in the last quarter. Institutional investors own 94.84% of the company’s stock.

Dropbox Stock Up 1.8 %

Shares of NASDAQ:DBX opened at $27.18 on Wednesday. The firm has a fifty day simple moving average of $28.87 and a two-hundred day simple moving average of $28.13. Dropbox, Inc. has a 52 week low of $20.68 and a 52 week high of $33.33. The stock has a market capitalization of $8.20 billion, a P/E ratio of 19.28, a PEG ratio of 1.70 and a beta of 0.77.

Dropbox (NASDAQ:DBX) last released its quarterly earnings results on Thursday, February 20th. The company reported $0.51 EPS for the quarter, missing the consensus estimate 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, analysts expect that Dropbox, Inc. will post 1.64 earnings per share for the current year.

Wall Street Analysts Forecast Growth

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

Insider Activity at Dropbox

In other news, CEO Andrew Houston sold 29,917 shares of the stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $30.07, for a total value of $899,604.19. Following the sale, the chief executive officer now directly owns 8,266,666 shares in the company, valued at approximately $248,578,646.62. This represents a 0.36 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Timothy Regan sold 10,000 shares of the business’s stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $29.65, for a total transaction of $296,500.00. Following the sale, the chief financial officer now directly owns 403,764 shares of the company’s stock, valued at $11,971,602.60. This represents a 2.42 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 634,504 shares of company stock worth $18,926,005. Company insiders own 28.59% of the company’s stock.

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.