Diametric Capital LP Invests $313,000 in Dropbox, Inc. (NASDAQ:DBX)

Diametric Capital LP purchased a new stake in Dropbox, Inc. (NASDAQ:DBX) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 10,420 shares of the company’s stock, valued at approximately $313,000.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Retirement Systems of Alabama lifted its holdings in shares of Dropbox by 15.2% in the 3rd quarter. Retirement Systems of Alabama now owns 944,033 shares of the company’s stock worth $24,007,000 after buying an additional 124,528 shares during the period. CWA Asset Management Group LLC purchased a new stake in Dropbox in the fourth quarter worth about $3,205,000. Caisse DE Depot ET Placement DU Quebec purchased a new position in Dropbox during the 3rd quarter valued at about $11,687,000. Sanctuary Advisors LLC purchased a new position in Dropbox during the 3rd quarter valued at about $268,000. Finally, Empowered Funds LLC raised its holdings in shares of Dropbox by 68.0% in the 4th quarter. Empowered Funds LLC now owns 36,140 shares of the company’s stock valued at $1,086,000 after purchasing an additional 14,629 shares in the last quarter. Institutional investors own 94.84% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Jefferies Financial Group increased their price objective 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.

Insiders Place Their Bets

In other Dropbox news, CFO Timothy Regan sold 2,500 shares of the firm’s stock in a transaction dated Friday, March 28th. The stock was sold at an average price of $26.57, for a total value of $66,425.00. Following the completion of the sale, the chief financial officer now owns 367,791 shares of the company’s stock, valued at approximately $9,772,206.87. This trade represents a 0.68 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Andrew Houston sold 500,323 shares of the company’s stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $29.65, for a total transaction of $14,834,576.95. Following the transaction, the chief executive officer now owns 8,266,666 shares in the company, valued at approximately $245,106,646.90. This trade represents a 5.71 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 634,504 shares of company stock valued at $18,926,005. 28.59% of the stock is currently owned by insiders.

Dropbox Price Performance

Shares of NASDAQ DBX opened at $27.18 on Wednesday. Dropbox, Inc. has a 1-year low of $20.68 and a 1-year high of $33.33. The business has a fifty day moving average price of $28.87 and a 200 day moving average price of $28.13. The stock has a market capitalization of $8.20 billion, a P/E ratio of 19.28, a price-to-earnings-growth 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 earnings per share 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 firm had revenue of $643.60 million during the quarter, compared to the consensus estimate of $638.61 million. As a group, equities research analysts anticipate that Dropbox, Inc. will post 1.64 earnings per share for the current fiscal 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.