Martingale Asset Management L P Has $1.63 Million Holdings in Dropbox, Inc. (NASDAQ:DBX)

Martingale Asset Management L P grew its position in Dropbox, Inc. (NASDAQ:DBX) by 1.1% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 54,222 shares of the company’s stock after purchasing an additional 574 shares during the period. Martingale Asset Management L P’s holdings in Dropbox were worth $1,629,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. EverSource Wealth Advisors LLC grew its stake in shares of Dropbox by 96.1% during the fourth quarter. EverSource Wealth Advisors LLC now owns 865 shares of the company’s stock worth $26,000 after purchasing an additional 424 shares during the period. Avion Wealth grew its stake in Dropbox by 4,472.7% in the fourth quarter. Avion Wealth now owns 1,006 shares of the company’s stock valued at $30,000 after purchasing an additional 984 shares in the last quarter. SBI Securities Co. Ltd. bought a new stake in shares of Dropbox in the 4th quarter valued at about $40,000. Allworth Financial LP lifted its holdings in Dropbox by 33.5% during the 4th quarter. Allworth Financial LP now owns 1,456 shares of the company’s stock valued at $45,000 after purchasing an additional 365 shares during the last quarter. Finally, Huntington National Bank boosted its stake in Dropbox by 768.9% in the 4th quarter. Huntington National Bank now owns 1,538 shares of the company’s stock valued at $46,000 after purchasing an additional 1,361 shares during the period. 94.84% of the stock is currently owned by institutional investors and hedge funds.

Dropbox Stock Performance

Shares of DBX opened at $27.08 on Friday. Dropbox, Inc. has a 52-week low of $20.68 and a 52-week high of $33.33. The firm has a market cap of $8.17 billion, a price-to-earnings ratio of 19.21, a PEG ratio of 1.70 and a beta of 0.75. The business’s fifty day moving average is $27.80 and its 200-day moving average is $28.21.

Dropbox (NASDAQ:DBX) last issued its 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 business had revenue of $643.60 million for the quarter, compared to analyst estimates of $638.61 million. As a group, research analysts forecast that Dropbox, Inc. will post 1.64 EPS for the current fiscal year.

Insider Activity

In other news, CFO Timothy Regan sold 2,500 shares of the stock in a transaction that occurred on Friday, March 28th. The shares were sold at an average price of $26.57, for a total transaction of $66,425.00. Following the completion of the transaction, the chief financial officer now directly owns 367,791 shares of the company’s stock, valued at $9,772,206.87. This represents a 0.68 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Andrew Houston sold 80,499 shares of Dropbox stock in a transaction dated Tuesday, January 21st. The stock was sold at an average price of $30.97, for a total value of $2,493,054.03. Following the completion of the sale, the chief executive officer now directly owns 8,266,666 shares of the company’s stock, valued at approximately $256,018,646.02. This trade represents a 0.96 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 94,264 shares of company stock valued at $2,895,324. 28.59% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Separately, Jefferies Financial Group increased 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.

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.