LSV Asset Management Grows Stake in Dropbox, Inc. (NASDAQ:DBX)

LSV Asset Management lifted its position in Dropbox, Inc. (NASDAQ:DBX) by 24.0% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 6,446,121 shares of the company’s stock after purchasing an additional 1,245,563 shares during the period. LSV Asset Management’s holdings in Dropbox were worth $193,641,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently modified their holdings of DBX. 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. CWA Asset Management Group LLC bought a new position in Dropbox in the 4th quarter worth $3,205,000. Sanctuary Advisors LLC bought a new position in Dropbox in the 3rd quarter worth $268,000. Empowered Funds LLC raised its holdings in Dropbox by 68.0% in the 4th quarter. Empowered Funds LLC now owns 36,140 shares of the company’s stock worth $1,086,000 after purchasing an additional 14,629 shares during the period. Finally, Exchange Traded Concepts LLC raised its holdings in Dropbox by 291.4% in the 4th quarter. Exchange Traded Concepts LLC now owns 124,991 shares of the company’s stock worth $3,755,000 after purchasing an additional 93,058 shares during the period. 94.84% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

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

Dropbox Trading Up 9.2 %

Shares of DBX stock opened at $27.77 on Thursday. The stock has a market capitalization of $8.38 billion, a price-to-earnings ratio of 19.70, a price-to-earnings-growth ratio of 1.70 and a beta of 0.75. Dropbox, Inc. has a 12-month low of $20.68 and a 12-month high of $33.33. The stock’s 50-day moving average price is $28.00 and its 200-day moving average price is $28.18.

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). The company had revenue of $643.60 million during the quarter, compared to analysts’ expectations of $638.61 million. Dropbox had a negative return on equity of 132.63% and a net margin of 17.75%. As a group, research analysts predict that Dropbox, Inc. will post 1.64 EPS for the current fiscal year.

Insider Buying and Selling at Dropbox

In related news, CEO Andrew Houston sold 80,499 shares of the business’s stock in a transaction that occurred on Tuesday, January 21st. The shares were sold at an average price of $30.97, for a total value of $2,493,054.03. Following the completion of the transaction, the chief executive officer now owns 8,266,666 shares of the company’s stock, valued at $256,018,646.02. The trade was a 0.96 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Eric Cox sold 3,765 shares of the business’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 transaction of $99,019.50. Following the completion of the transaction, the insider now directly owns 309,550 shares of the company’s stock, valued at $8,141,165. This trade represents a 1.20 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 94,264 shares of company stock worth $2,895,324 over the last 90 days. Company 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.