Dropbox, Inc. (NASDAQ:DBX) Position Reduced by Caisse DE Depot ET Placement DU Quebec
Caisse DE Depot ET Placement DU Quebec cut its position in shares of Dropbox, Inc. (NASDAQ:DBX – Free Report) by 29.5% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,230,884 shares of the company’s stock after selling 514,786 shares during the quarter. Caisse DE Depot ET Placement DU Quebec owned 0.35% of Dropbox worth $32,828,000 at the end of the most recent quarter.
A number of other hedge funds also recently bought and sold shares of the company. Baupost Group LLC MA increased its holdings in shares of Dropbox by 30.6% in the 1st quarter. Baupost Group LLC MA now owns 10,571,046 shares of the company’s stock valued at $245,777,000 after purchasing an additional 2,476,021 shares during the period. Renaissance Technologies LLC increased its holdings in shares of Dropbox by 7.5% in the 2nd quarter. Renaissance Technologies LLC now owns 9,297,833 shares of the company’s stock valued at $247,973,000 after purchasing an additional 651,900 shares during the period. UBS Group AG increased its holdings in shares of Dropbox by 378.5% in the 1st quarter. UBS Group AG now owns 5,063,268 shares of the company’s stock valued at $109,468,000 after purchasing an additional 4,005,004 shares during the period. Thrivent Financial for Lutherans increased its holdings in shares of Dropbox by 10.8% in the 2nd quarter. Thrivent Financial for Lutherans now owns 5,013,693 shares of the company’s stock valued at $133,715,000 after purchasing an additional 490,484 shares during the period. Finally, Geode Capital Management LLC increased its holdings in shares of Dropbox by 6.5% in the 2nd quarter. Geode Capital Management LLC now owns 4,245,279 shares of the company’s stock valued at $113,050,000 after purchasing an additional 257,648 shares during the period. 70.28% of the stock is owned by hedge funds and other institutional investors.
Insider Buying and Selling at Dropbox
In other Dropbox news, insider Bart Volkmer sold 7,054 shares of the stock in a transaction that occurred on Friday, September 15th. The stock was sold at an average price of $27.14, for a total transaction of $191,445.56. Following the transaction, the insider now owns 305,658 shares in the company, valued at $8,295,558.12. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other news, CFO Timothy Regan sold 3,000 shares of the stock in a transaction that occurred on Friday, September 15th. The stock was sold at an average price of $27.09, for a total value of $81,270.00. Following the completion of the sale, the chief financial officer now directly owns 508,252 shares of the company’s stock, valued at $13,768,546.68. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Bart Volkmer sold 7,054 shares of the stock in a transaction that occurred on Friday, September 15th. The shares were sold at an average price of $27.14, for a total value of $191,445.56. Following the completion of the sale, the insider now directly owns 305,658 shares of the company’s stock, valued at $8,295,558.12. The disclosure for this sale can be found here. Insiders have sold a total of 36,079 shares of company stock worth $992,245 over the last 90 days. Insiders own 25.78% of the company’s stock.
Dropbox Stock Performance
NASDAQ:DBX opened at $27.59 on Monday. The stock’s 50 day moving average price is $27.27 and its 200 day moving average price is $26.79. Dropbox, Inc. has a 52 week low of $18.71 and a 52 week high of $28.80. The company has a market capitalization of $9.54 billion, a P/E ratio of 17.35, a P/E/G ratio of 1.66 and a beta of 0.86.
Dropbox (NASDAQ:DBX – Get Free Report) last announced its quarterly earnings results on Thursday, November 2nd. The company reported $0.35 EPS for the quarter, beating the consensus estimate of $0.27 by $0.08. Dropbox had a negative return on equity of 101.75% and a net margin of 22.50%. The company had revenue of $633.00 million for the quarter, compared to the consensus estimate of $627.66 million. As a group, sell-side analysts forecast that Dropbox, Inc. will post 1.14 earnings per share for the current fiscal year.
Wall Street Analyst Weigh In
A number of equities analysts have recently weighed in on DBX shares. William Blair downgraded Dropbox from an “outperform” rating to a “market perform” rating in a report on Monday, September 18th. Citigroup reiterated a “neutral” rating and issued a $30.00 target price on shares of Dropbox in a report on Monday, September 18th. Finally, JMP Securities reiterated a “market outperform” rating and issued a $32.00 target price on shares of Dropbox in a report on Thursday, August 31st. One analyst has rated the stock with a sell rating, four have assigned a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $29.14.
Check Out Our Latest Stock Analysis on Dropbox
Dropbox Profile (Free Report)
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.
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