Handelsbanken Fonder AB Buys 6,900 Shares of Dropbox, Inc. (NASDAQ:DBX)

Handelsbanken Fonder AB increased its holdings in shares of Dropbox, Inc. (NASDAQ:DBX) by 12.6% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 61,800 shares of the company’s stock after purchasing an additional 6,900 shares during the period. Handelsbanken Fonder AB’s holdings in Dropbox were worth $1,856,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Avion Wealth lifted its position in Dropbox by 4,472.7% during the fourth quarter. Avion Wealth now owns 1,006 shares of the company’s stock worth $30,000 after acquiring an additional 984 shares during the last quarter. Capital Performance Advisors LLP acquired a new position in Dropbox during the third quarter valued at approximately $28,000. Allworth Financial LP raised its position in Dropbox by 33.5% during the fourth quarter. Allworth Financial LP now owns 1,456 shares of the company’s stock valued at $45,000 after purchasing an additional 365 shares in the last quarter. V Square Quantitative Management LLC raised its position in Dropbox by 39.0% during the fourth quarter. V Square Quantitative Management LLC now owns 1,717 shares of the company’s stock valued at $52,000 after purchasing an additional 482 shares in the last quarter. Finally, Fifth Third Bancorp raised its position in Dropbox by 35.6% during the fourth quarter. Fifth Third Bancorp now owns 1,798 shares of the company’s stock valued at $54,000 after purchasing an additional 472 shares in the last quarter. Institutional investors own 94.84% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Jefferies Financial Group boosted their price objective 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.

Dropbox Stock Performance

NASDAQ DBX opened at $26.42 on Wednesday. The firm’s fifty day moving average price is $30.91 and its two-hundred day moving average price is $27.67. The stock has a market cap of $8.18 billion, a PE ratio of 18.74, a PEG ratio of 1.70 and a beta of 0.61. Dropbox, Inc. has a fifty-two week low of $20.68 and a fifty-two week high of $33.33.

Dropbox (NASDAQ:DBX) last issued 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 negative return on equity of 132.63% and a net margin of 17.75%. The business had revenue of $643.60 million during the quarter, compared to the consensus estimate of $638.61 million. As a group, sell-side analysts predict that Dropbox, Inc. will post 1.64 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CFO Timothy Regan sold 2,500 shares of the business’s stock in a transaction on Monday, December 30th. The shares were sold at an average price of $30.38, for a total value of $75,950.00. Following the transaction, the chief financial officer now owns 413,764 shares in the company, valued at $12,570,150.32. The trade was a 0.60 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Andrew Houston sold 29,917 shares of the business’s stock in a transaction on Monday, January 6th. The shares were sold at an average price of $30.07, for a total transaction of $899,604.19. Following the completion of the transaction, the chief executive officer now owns 8,266,666 shares in the company, valued at approximately $248,578,646.62. The trade was a 0.36 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 900,238 shares of company stock valued at $26,680,195 over the last 90 days. 28.59% of the stock is 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.