Elo Mutual Pension Insurance Co Invests $403,000 in Dropbox, Inc. (NASDAQ:DBX)

Elo Mutual Pension Insurance Co purchased a new stake in Dropbox, Inc. (NASDAQ:DBX) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 13,421 shares of the company’s stock, valued at approximately $403,000.

A number of other institutional investors also recently bought and sold shares of the business. WINTON GROUP Ltd acquired a new stake in shares of Dropbox during the 4th quarter worth about $5,853,000. Murphy & Mullick Capital Management Corp purchased a new position in Dropbox in the fourth quarter valued at approximately $143,000. Mitsubishi UFJ Trust & Banking Corp raised its holdings in Dropbox by 13.5% during the fourth quarter. Mitsubishi UFJ Trust & Banking Corp now owns 901,459 shares of the company’s stock worth $27,080,000 after purchasing an additional 107,460 shares in the last quarter. Prudential Financial Inc. lifted its position in shares of Dropbox by 53.9% during the 4th quarter. Prudential Financial Inc. now owns 99,984 shares of the company’s stock worth $3,004,000 after buying an additional 35,036 shares during the last quarter. Finally, LPL Financial LLC boosted its holdings in shares of Dropbox by 31.2% in the 4th quarter. LPL Financial LLC now owns 24,506 shares of the company’s stock valued at $736,000 after buying an additional 5,823 shares in the last quarter. 94.84% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Dropbox

In other news, insider Eric Cox sold 3,765 shares of the company’s stock in a transaction that occurred on Thursday, February 27th. The stock was sold at an average price of $26.30, for a total transaction of $99,019.50. Following the completion of the sale, the insider now owns 309,550 shares in the company, valued at $8,141,165. This represents a 1.20 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Timothy Regan sold 2,500 shares of Dropbox stock in a transaction on Friday, February 7th. The shares were sold at an average price of $32.19, for a total transaction of $80,475.00. Following the completion of the transaction, the chief financial officer now owns 396,264 shares in the company, valued at approximately $12,755,738.16. This trade represents a 0.63 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 632,004 shares of company stock worth $18,859,580. 28.59% of the stock is owned by company insiders.

Analysts Set New Price Targets

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

Dropbox Stock Down 1.4 %

Shares of NASDAQ DBX opened at $26.56 on Monday. The stock has a market cap of $8.01 billion, a PE ratio of 18.84, a price-to-earnings-growth ratio of 1.70 and a beta of 0.77. Dropbox, Inc. has a 52-week low of $20.68 and a 52-week high of $33.33. The business has a 50-day moving average price of $29.03 and a 200 day moving average price of $28.09.

Dropbox (NASDAQ:DBX) last posted its quarterly earnings data 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). 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 analyst estimates of $638.61 million. Sell-side analysts anticipate that Dropbox, Inc. will post 1.64 earnings per share for the current year.

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.