229,812 Shares in Dropbox, Inc. $DBX Purchased by BI Asset Management Fondsmaeglerselskab A S

BI Asset Management Fondsmaeglerselskab A S purchased a new stake in Dropbox, Inc. (NASDAQ:DBX) during the first quarter, Holdings Channel.com reports. The institutional investor purchased 229,812 shares of the company’s stock, valued at approximately $5,221,000.

Several other institutional investors also recently bought and sold shares of DBX. Rossby Financial LCC increased its stake in Dropbox by 128.5% during the 3rd quarter. Rossby Financial LCC now owns 937 shares of the company’s stock worth $28,000 after buying an additional 527 shares in the last quarter. Palisade Asset Management LLC purchased a new position in shares of Dropbox in the third quarter valued at approximately $30,000. Kestra Advisory Services LLC purchased a new position in shares of Dropbox in the fourth quarter valued at approximately $31,000. Larson Financial Group LLC lifted its position in shares of Dropbox by 228.0% in the fourth quarter. Larson Financial Group LLC now owns 1,138 shares of the company’s stock valued at $32,000 after acquiring an additional 791 shares in the last quarter. Finally, Geneos Wealth Management Inc. boosted its stake in shares of Dropbox by 78.0% in the second quarter. Geneos Wealth Management Inc. now owns 1,273 shares of the company’s stock worth $36,000 after acquiring an additional 558 shares during the last quarter. 94.84% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts recently commented on the company. Weiss Ratings reiterated a “hold (c)” rating on shares of Dropbox in a research report on Monday, May 4th. Royal Bank Of Canada restated an “outperform” rating on shares of Dropbox in a report on Monday, June 1st. Citigroup lifted their target price on shares of Dropbox from $27.00 to $28.00 and gave the stock a “neutral” rating in a research note on Monday, May 11th. William Blair reaffirmed an “underperform” rating on shares of Dropbox in a report on Monday, March 23rd. Finally, Wall Street Zen cut shares of Dropbox from a “buy” rating to a “hold” rating in a research report on Saturday. One research analyst has rated the stock with a Buy rating, three have issued a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, Dropbox has an average rating of “Reduce” and an average target price of $27.00.

Dropbox Stock Down 0.7%

Shares of NASDAQ:DBX opened at $25.80 on Tuesday. Dropbox, Inc. has a 52-week low of $21.69 and a 52-week high of $32.40. The stock has a market cap of $6.02 billion, a P/E ratio of 14.10, a PEG ratio of 2.84 and a beta of 0.67. The business has a fifty day moving average of $25.97 and a two-hundred day moving average of $25.96.

Dropbox (NASDAQ:DBX) last posted its quarterly earnings results on Thursday, May 7th. The company reported $0.76 EPS for the quarter, topping the consensus estimate of $0.71 by $0.05. The business had revenue of $629.50 million for the quarter, compared to analyst estimates of $620.56 million. Dropbox had a negative return on equity of 30.01% and a net margin of 18.71%.The company’s quarterly revenue was up .8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.70 EPS. On average, equities analysts anticipate that Dropbox, Inc. will post 2.09 earnings per share for the current year.

Insider Activity

In related news, CAO Sarah Elizabeth Schubach sold 1,306 shares of the firm’s stock in a transaction dated Monday, June 15th. The shares were sold at an average price of $26.90, for a total transaction of $35,131.40. Following the completion of the sale, the chief accounting officer directly owned 128,509 shares in the company, valued at approximately $3,456,892.10. This trade represents a 1.01% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Andrew Houston sold 30,332 shares of Dropbox stock in a transaction dated Monday, May 18th. The stock was sold at an average price of $27.50, for a total transaction of $834,130.00. 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. Insiders sold 239,774 shares of company stock valued at $6,005,653 in the last quarter. Insiders own 35.48% of the company’s stock.

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.