Mitsubishi UFJ Trust & Banking Corp Purchases 107,460 Shares of Dropbox, Inc. (NASDAQ:DBX)

Mitsubishi UFJ Trust & Banking Corp raised its position in Dropbox, Inc. (NASDAQ:DBX) by 13.5% during the fourth quarter, Holdings Channel reports. The fund owned 901,459 shares of the company’s stock after acquiring an additional 107,460 shares during the period. Mitsubishi UFJ Trust & Banking Corp’s holdings in Dropbox were worth $27,080,000 as of its most recent filing with the SEC.

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

Analyst Upgrades and Downgrades

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

Dropbox Price Performance

Shares of NASDAQ DBX opened at $26.83 on Thursday. The stock has a market cap of $8.10 billion, a PE ratio of 19.03, a price-to-earnings-growth ratio of 1.70 and a beta of 0.77. Dropbox, Inc. has a 1 year low of $20.68 and a 1 year high of $33.33. The firm has a fifty day moving average price of $29.18 and a 200-day moving average price of $28.02.

Dropbox (NASDAQ:DBX) last posted its quarterly 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 business had revenue of $643.60 million for the quarter, compared to the consensus estimate of $638.61 million. On average, research analysts expect that Dropbox, Inc. will post 1.64 EPS for the current year.

Insider Activity at Dropbox

In other Dropbox news, CEO Andrew Houston sold 500,323 shares of the stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $29.65, for a total transaction of $14,834,576.95. Following the completion of the transaction, the chief executive officer now owns 8,266,666 shares of the company’s stock, valued at $245,106,646.90. This represents a 5.71 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 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 value of $75,950.00. Following the completion of the sale, 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. In the last 90 days, insiders have sold 634,504 shares of company stock valued at $18,935,530. 28.59% of the stock is owned by company insiders.

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.