Intech Investment Management LLC Raises Holdings in Dropbox, Inc. (NASDAQ:DBX)

Intech Investment Management LLC lifted its stake in Dropbox, Inc. (NASDAQ:DBX) by 185.2% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 150,488 shares of the company’s stock after buying an additional 97,725 shares during the quarter. Intech Investment Management LLC’s holdings in Dropbox were worth $4,521,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of the stock. Retirement Systems of Alabama raised its holdings in Dropbox by 15.2% in 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 during the period. Charles Schwab Investment Management Inc. raised its holdings in Dropbox by 8.9% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,796,238 shares of the company’s stock worth $71,108,000 after purchasing an additional 228,685 shares during the period. Landscape Capital Management L.L.C. acquired a new position in Dropbox in the 3rd quarter worth about $2,774,000. Massachusetts Financial Services Co. MA raised its holdings in Dropbox by 25.0% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 615,879 shares of the company’s stock worth $15,662,000 after purchasing an additional 123,000 shares during the period. Finally, CWA Asset Management Group LLC acquired a new position in Dropbox in the 4th quarter worth about $3,205,000. Hedge funds and other institutional investors own 94.84% of the company’s stock.

Dropbox Price Performance

Shares of Dropbox stock opened at $26.39 on Wednesday. The business has a 50 day simple moving average of $29.54 and a two-hundred day simple moving average of $27.92. Dropbox, Inc. has a 12 month low of $20.68 and a 12 month high of $33.33. The stock has a market capitalization of $7.96 billion, a P/E ratio of 18.72, a PEG ratio of 1.70 and a beta of 0.77.

Dropbox (NASDAQ:DBX) last announced its earnings results on Thursday, February 20th. The company reported $0.51 EPS for the quarter, missing analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $638.61 million. As a group, research analysts anticipate that Dropbox, Inc. will post 1.64 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

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

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 value of $99,019.50. Following the completion of the sale, the insider now directly 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 at this link. Also, CFO Timothy Regan sold 2,500 shares of the company’s stock in a transaction that occurred on Friday, February 7th. The shares were sold at an average price of $32.19, for a total value of $80,475.00. Following the completion of the sale, the chief financial officer now owns 396,264 shares of the company’s stock, valued at $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. Insiders sold 634,504 shares of company stock valued at $18,935,530 over the last quarter. 28.59% of the stock is currently owned by insiders.

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.