168,995 Shares in Dropbox, Inc. (NASDAQ:DBX) Purchased by Zacks Investment Management

Zacks Investment Management bought a new position in Dropbox, Inc. (NASDAQ:DBX) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund bought 168,995 shares of the company’s stock, valued at approximately $5,077,000. Zacks Investment Management owned about 0.05% of Dropbox as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. HighTower Advisors LLC boosted its stake in shares of Dropbox by 68.2% in the 3rd quarter. HighTower Advisors LLC now owns 26,576 shares of the company’s stock worth $683,000 after buying an additional 10,777 shares during the last quarter. M&T Bank Corp purchased a new position in Dropbox in the third quarter worth about $229,000. Geode Capital Management LLC grew its stake in shares of Dropbox by 0.6% during the 3rd quarter. Geode Capital Management LLC now owns 4,366,271 shares of the company’s stock valued at $111,368,000 after purchasing an additional 25,893 shares during the period. Sanctuary Advisors LLC purchased a new stake in shares of Dropbox during the 3rd quarter valued at about $268,000. Finally, American Trust bought a new position in shares of Dropbox in the 3rd quarter worth approximately $271,000. Institutional investors own 94.84% of the company’s stock.

Dropbox Stock Performance

NASDAQ:DBX opened at $27.11 on Friday. The stock has a 50-day simple moving average of $27.37 and a two-hundred day simple moving average of $28.23. Dropbox, Inc. has a 52-week low of $20.68 and a 52-week high of $33.33. The firm has a market capitalization of $8.18 billion, a PE ratio of 19.23, a P/E/G ratio of 1.70 and a beta of 0.75.

Dropbox (NASDAQ:DBX) last released its earnings results on Thursday, February 20th. The company reported $0.51 earnings per share (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 firm had revenue of $643.60 million during the quarter, compared to analysts’ expectations of $638.61 million. Equities analysts forecast that Dropbox, Inc. will post 1.64 earnings per share for the current fiscal year.

Analyst Ratings Changes

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

Insider Activity

In related news, CFO Timothy Regan sold 2,500 shares of the stock in a transaction dated Thursday, January 30th. The stock was sold at an average price of $32.17, for a total transaction of $80,425.00. Following the completion of the sale, the chief financial officer now owns 398,764 shares in the company, valued at approximately $12,828,237.88. This trade represents a 0.62 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Andrew Houston sold 80,499 shares of the business’s stock in a transaction that occurred on 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 transaction, the chief executive officer now directly owns 8,266,666 shares in the company, valued at approximately $256,018,646.02. This represents a 0.96 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 94,264 shares of company stock worth $2,886,749 in the last three months. 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.