denkapparat Operations GmbH Invests $284,000 in Dropbox, Inc. (NASDAQ:DBX)

denkapparat Operations GmbH bought a new stake in shares of Dropbox, Inc. (NASDAQ:DBX) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 9,446 shares of the company’s stock, valued at approximately $284,000.

Several other hedge funds also recently added to or reduced their stakes in DBX. EverSource Wealth Advisors LLC lifted its holdings in shares of Dropbox by 96.1% in the 4th quarter. EverSource Wealth Advisors LLC now owns 865 shares of the company’s stock valued at $26,000 after buying an additional 424 shares during the period. Avion Wealth raised its position in Dropbox by 4,472.7% during the fourth quarter. Avion Wealth now owns 1,006 shares of the company’s stock valued at $30,000 after acquiring an additional 984 shares in the last quarter. SBI Securities Co. Ltd. acquired a new position in Dropbox in the fourth quarter valued at approximately $40,000. Allworth Financial LP boosted its position in Dropbox by 33.5% in the 4th quarter. Allworth Financial LP now owns 1,456 shares of the company’s stock worth $45,000 after purchasing an additional 365 shares in the last quarter. Finally, V Square Quantitative Management LLC grew its stake in shares of Dropbox by 39.0% during the 4th quarter. V Square Quantitative Management LLC now owns 1,717 shares of the company’s stock worth $52,000 after purchasing an additional 482 shares during the period. 94.84% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

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

Dropbox Price Performance

Dropbox stock opened at $26.93 on Friday. 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 $8.13 billion, a PE ratio of 19.10, a price-to-earnings-growth ratio of 1.70 and a beta of 0.77. The business has a 50 day simple moving average of $29.11 and a 200-day simple moving average of $28.01.

Dropbox (NASDAQ:DBX) last announced its quarterly earnings data on Thursday, February 20th. The company reported $0.51 earnings per share for the quarter, missing analysts’ consensus estimates of $0.62 by ($0.11). The firm had revenue of $643.60 million during 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, equities research analysts anticipate that Dropbox, Inc. will post 1.64 EPS for the current fiscal year.

Insider Transactions at Dropbox

In related news, insider Eric Cox sold 3,765 shares of the company’s stock in a transaction dated Thursday, February 27th. The shares were 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 represents a 1.20 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CFO Timothy Regan sold 2,500 shares of Dropbox stock in a transaction dated Monday, December 30th. The stock was sold at an average price of $30.38, for a total transaction of $75,950.00. Following the transaction, the chief financial officer now directly owns 413,764 shares in the company, valued at $12,570,150.32. This trade represents a 0.60 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 634,504 shares of company stock worth $18,935,530 in the last ninety days. 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.