Optas LLC Buys New Position in Dropbox, Inc. (NASDAQ:DBX)

Optas LLC purchased a new position in shares of Dropbox, Inc. (NASDAQ:DBX) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm purchased 6,746 shares of the company’s stock, valued at approximately $203,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of DBX. Capital Performance Advisors LLP acquired a new stake in shares of Dropbox during the third quarter worth $28,000. V Square Quantitative Management LLC acquired a new stake in Dropbox during the 3rd quarter worth about $31,000. UMB Bank n.a. raised its position in shares of Dropbox by 2,479.4% in the 3rd quarter. UMB Bank n.a. now owns 1,754 shares of the company’s stock worth $45,000 after acquiring an additional 1,686 shares in the last quarter. Fifth Third Bancorp lifted its stake in shares of Dropbox by 35.6% in the 4th quarter. Fifth Third Bancorp now owns 1,798 shares of the company’s stock valued at $54,000 after purchasing an additional 472 shares during the period. Finally, Quarry LP boosted its position in shares of Dropbox by 23.4% during the 3rd quarter. Quarry LP now owns 2,424 shares of the company’s stock valued at $62,000 after purchasing an additional 459 shares in the last quarter. Institutional investors and hedge funds own 94.84% of the company’s stock.

Analyst Upgrades and Downgrades

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. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat, Dropbox has an average rating of “Hold” and an average price target of $27.50.

Dropbox Price Performance

DBX stock opened at $32.38 on Wednesday. The company’s 50-day moving average is $30.19 and its 200-day moving average is $26.83. The stock has a market capitalization of $10.03 billion, a PE ratio of 18.72, a price-to-earnings-growth ratio of 1.63 and a beta of 0.61. Dropbox, Inc. has a 1 year low of $20.68 and a 1 year high of $33.43.

Dropbox (NASDAQ:DBX) last announced its quarterly earnings results on Thursday, November 7th. The company reported $0.36 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.52 by ($0.16). The firm had revenue of $638.80 million during the quarter, compared to the consensus estimate of $636.93 million. Dropbox had a negative return on equity of 135.85% and a net margin of 22.71%. During the same quarter in the previous year, the company posted $0.35 EPS. On average, analysts anticipate that Dropbox, Inc. will post 1.49 earnings per share for the current fiscal year.

Insider Activity at Dropbox

In other Dropbox news, CFO Timothy Regan sold 2,500 shares of the business’s stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $27.17, for a total transaction of $67,925.00. Following the completion of the sale, the chief financial officer now directly owns 436,264 shares of the company’s stock, valued at approximately $11,853,292.88. The trade was a 0.57 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Eric Cox sold 2,330 shares of the firm’s stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $26.41, for a total value of $61,535.30. Following the completion of the transaction, the insider now owns 321,871 shares in the company, valued at $8,500,613.11. This represents a 0.72 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 902,568 shares of company stock valued at $26,729,180. 26.40% of the stock is owned by company 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.