Canada Pension Plan Investment Board Acquires 120,300 Shares of Dropbox, Inc. (NASDAQ:DBX)

Canada Pension Plan Investment Board lifted its holdings in shares of Dropbox, Inc. (NASDAQ:DBX) by 14.5% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 950,500 shares of the company’s stock after acquiring an additional 120,300 shares during the period. Canada Pension Plan Investment Board owned approximately 0.31% of Dropbox worth $28,553,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Retirement Systems of Alabama increased its holdings in Dropbox by 15.2% during the 3rd quarter. Retirement Systems of Alabama now owns 944,033 shares of the company’s stock worth $24,007,000 after purchasing an additional 124,528 shares in the last quarter. CWA Asset Management Group LLC purchased a new position in shares of Dropbox during the fourth quarter valued at approximately $3,205,000. Sanctuary Advisors LLC bought a new stake in Dropbox during the third quarter worth $268,000. Empowered Funds LLC raised its position in 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 buying an additional 14,629 shares during the last quarter. Finally, Exchange Traded Concepts LLC raised its position in Dropbox by 291.4% in the 4th quarter. Exchange Traded Concepts LLC now owns 124,991 shares of the company’s stock valued at $3,755,000 after buying an additional 93,058 shares during the last quarter. Institutional investors and hedge funds own 94.84% of the company’s stock.

Insiders Place Their Bets

In related news, insider Eric Cox sold 3,765 shares of Dropbox stock in a transaction dated Thursday, February 27th. The stock was sold at an average price of $26.30, for a total value of $99,019.50. Following the completion of the sale, the insider now owns 309,550 shares of the company’s stock, valued at approximately $8,141,165. This trade represents a 1.20 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Timothy Regan sold 2,500 shares of the business’s stock in a transaction dated Thursday, January 30th. The shares were sold at an average price of $32.17, for a total value of $80,425.00. Following the completion of the sale, the chief financial officer now owns 398,764 shares in the company, valued at $12,828,237.88. This represents a 0.62 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 94,264 shares of company stock valued at $2,886,749. Company insiders own 28.59% of the company’s stock.

Dropbox Stock Up 1.0 %

DBX stock opened at $27.11 on Friday. The firm has a market cap of $8.18 billion, a PE ratio of 19.23, a P/E/G ratio of 1.70 and a beta of 0.75. The business has a 50 day moving average of $27.28 and a 200-day moving average of $28.27. Dropbox, Inc. has a 12-month low of $20.68 and a 12-month high of $33.33.

Dropbox (NASDAQ:DBX) last announced 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). The business had revenue of $643.60 million for the quarter, compared to analysts’ expectations of $638.61 million. Dropbox had a net margin of 17.75% and a negative return on equity of 132.63%. On average, research analysts expect that Dropbox, Inc. will post 1.64 earnings per share for the current year.

Analyst Ratings Changes

Separately, Jefferies Financial Group upped their target price 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 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.