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

Intech Investment Management LLC increased its holdings in Dropbox, Inc. (NASDAQ:DBX) by 185.2% in the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 150,488 shares of the company’s stock after acquiring an additional 97,725 shares during the period. Intech Investment Management LLC’s holdings in Dropbox were worth $4,521,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Retirement Systems of Alabama grew its position in Dropbox by 15.2% in the third quarter. Retirement Systems of Alabama now owns 944,033 shares of the company’s stock worth $24,007,000 after acquiring an additional 124,528 shares during the period. Charles Schwab Investment Management Inc. grew its position in Dropbox by 8.9% in the third quarter. Charles Schwab Investment Management Inc. now owns 2,796,238 shares of the company’s stock worth $71,108,000 after acquiring an additional 228,685 shares during the period. Landscape Capital Management L.L.C. purchased a new position in Dropbox in the third quarter worth approximately $2,774,000. Massachusetts Financial Services Co. MA grew its position in Dropbox by 25.0% in the third quarter. Massachusetts Financial Services Co. MA now owns 615,879 shares of the company’s stock worth $15,662,000 after acquiring an additional 123,000 shares during the period. Finally, CWA Asset Management Group LLC purchased a new position in Dropbox in the fourth quarter worth approximately $3,205,000. 94.84% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

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

Dropbox Stock Up 0.4 %

DBX opened at $26.39 on Wednesday. Dropbox, Inc. has a 52 week low of $20.68 and a 52 week high of $33.33. The business has a fifty day simple moving average of $29.54 and a 200-day simple moving average of $27.92. The firm has a market cap of $7.96 billion, a P/E ratio of 18.72, a P/E/G ratio of 1.70 and a beta of 0.77.

Dropbox (NASDAQ:DBX) last released its quarterly 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 firm had revenue of $643.60 million for the quarter, compared to analysts’ expectations of $638.61 million. Sell-side analysts expect that Dropbox, Inc. will post 1.64 earnings per share for the current year.

Insider Activity

In other news, CFO Timothy Regan sold 2,500 shares of the stock in a transaction on Monday, December 30th. The stock was sold at an average price of $30.38, for a total value of $75,950.00. Following the sale, the chief financial officer now directly owns 413,764 shares in the company, valued at approximately $12,570,150.32. This trade represents a 0.60 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Andrew Houston sold 29,917 shares of the stock in a transaction on Monday, January 6th. The shares were sold at an average price of $30.07, for a total value of $899,604.19. Following the completion of the sale, 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 ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 634,504 shares of company stock worth $18,935,530. Corporate insiders own 28.59% of the company’s stock.

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.