Dropbox, Inc. $DBX Shares Purchased by Arrowstreet Capital Limited Partnership

Arrowstreet Capital Limited Partnership increased its holdings in Dropbox, Inc. (NASDAQ:DBX) by 12.7% in the first quarter, HoldingsChannel.com reports. The institutional investor owned 8,533,736 shares of the company’s stock after purchasing an additional 960,109 shares during the quarter. Arrowstreet Capital Limited Partnership’s holdings in Dropbox were worth $193,886,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently added to or reduced their stakes in the business. Norges Bank bought a new stake in shares of Dropbox during the 4th quarter worth about $69,909,000. Arbejdsmarkedets Tillaegspension acquired a new stake in shares of Dropbox in the fourth quarter valued at $22,050,000. Allianz Asset Management GmbH boosted its stake in Dropbox by 28.1% during the fourth quarter. Allianz Asset Management GmbH now owns 2,720,372 shares of the company’s stock valued at $75,626,000 after buying an additional 596,440 shares in the last quarter. Northern Trust Corp boosted its stake in Dropbox by 29.1% during the third quarter. Northern Trust Corp now owns 2,488,077 shares of the company’s stock valued at $75,165,000 after buying an additional 560,694 shares in the last quarter. Finally, Robeco Institutional Asset Management B.V. grew its stake in shares of Dropbox by 22.5% in the 4th quarter. Robeco Institutional Asset Management B.V. now owns 2,518,534 shares of the company’s stock worth $70,015,000 after purchasing an additional 463,258 shares during the last quarter. Institutional investors and hedge funds own 94.84% of the company’s stock.

Analyst Ratings Changes

DBX has been the topic of several recent research reports. Wall Street Zen upgraded shares of Dropbox from a “hold” rating to a “buy” rating in a research report on Sunday, June 28th. Royal Bank Of Canada reiterated an “outperform” rating on shares of Dropbox in a research report on Monday, June 1st. Weiss Ratings reissued a “hold (c)” rating on shares of Dropbox in a research note on Monday, May 4th. Finally, Citigroup lifted their price target on Dropbox from $27.00 to $28.00 and gave the stock a “neutral” rating in a research note on Monday, May 11th. One equities research analyst has rated the stock with a Buy rating, three have given a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat, Dropbox presently has an average rating of “Reduce” and a consensus price target of $27.00.

Dropbox Price Performance

DBX opened at $29.19 on Friday. Dropbox, Inc. has a fifty-two week low of $21.69 and a fifty-two week high of $32.40. The business has a 50-day moving average of $27.85 and a 200-day moving average of $26.02. The company has a market capitalization of $6.81 billion, a PE ratio of 15.95, a price-to-earnings-growth ratio of 3.11 and a beta of 0.66.

Dropbox (NASDAQ:DBX) last issued its quarterly earnings data on Thursday, May 7th. The company reported $0.76 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.71 by $0.05. Dropbox had a net margin of 18.71% and a negative return on equity of 30.01%. The firm had revenue of $629.50 million during the quarter, compared to analysts’ expectations of $620.56 million. During the same period in the prior year, the company posted $0.70 earnings per share. Dropbox’s revenue for the quarter was up .8% on a year-over-year basis. On average, equities research analysts expect that Dropbox, Inc. will post 2.09 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, CEO Andrew Houston sold 37,498 shares of Dropbox stock in a transaction on Thursday, May 14th. The shares were sold at an average price of $25.96, for a total value of $973,448.08. The sale was disclosed in a filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider William T. Yoon sold 7,230 shares of the business’s stock in a transaction on Monday, May 18th. The stock was sold at an average price of $27.57, for a total transaction of $199,331.10. Following the transaction, the insider directly owned 366,963 shares of the company’s stock, valued at approximately $10,117,169.91. This represents a 1.93% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold a total of 129,082 shares of company stock worth $3,489,910 in the last ninety days. 35.48% of the stock is owned by insiders.

Dropbox Profile

Dropbox, Inc (NASDAQ: DBX) is a leading provider of cloud-based file storage, collaboration, and productivity tools. Founded in 2007 and headquartered in San Francisco, California, the company offers a suite of services designed to help individuals and organizations securely store, share, and manage digital content. Dropbox has grown from a simple file-syncing application into an integrated collaboration platform used by millions of customers around the globe.

At its core, Dropbox provides cloud storage plans tailored for consumers and businesses.