Dropbox, Inc. (NASDAQ:DBX) Stock Position Raised by MUFG Securities EMEA plc

MUFG Securities EMEA plc lifted its holdings in shares of Dropbox, Inc. (NASDAQ:DBXGet Rating) by 56.7% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 276,300 shares of the company’s stock after buying an additional 100,000 shares during the period. Dropbox accounts for approximately 0.1% of MUFG Securities EMEA plc’s holdings, making the stock its 26th biggest position. MUFG Securities EMEA plc owned 0.07% of Dropbox worth $6,424,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of DBX. Baupost Group LLC MA boosted its stake in Dropbox by 30.6% during 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. State Street Corp boosted its stake in Dropbox by 1.4% during the 4th quarter. State Street Corp now owns 6,884,905 shares of the company’s stock valued at $168,956,000 after purchasing an additional 92,393 shares during the period. Geode Capital Management LLC boosted its stake in Dropbox by 9.4% during the 4th quarter. Geode Capital Management LLC now owns 6,361,635 shares of the company’s stock valued at $155,968,000 after purchasing an additional 545,966 shares during the period. Eaton Vance Management boosted its stake in Dropbox by 3.2% during the 1st quarter. Eaton Vance Management now owns 3,670,636 shares of the company’s stock valued at $85,342,000 after purchasing an additional 113,180 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its stake in Dropbox by 4.9% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 2,451,608 shares of the company’s stock valued at $57,000,000 after purchasing an additional 115,502 shares during the period. Institutional investors own 60.57% of the company’s stock.

Insider Activity at Dropbox

In related news, President Timothy H. Young sold 15,000 shares of the stock in a transaction that occurred on Wednesday, August 24th. The shares were sold at an average price of $22.70, for a total transaction of $340,500.00. Following the completion of the sale, the president now directly owns 1,569,623 shares of the company’s stock, valued at $35,630,442.10. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, insider Bart Volkmer sold 11,000 shares of the business’s stock in a transaction that occurred on Monday, July 11th. The shares were sold at an average price of $22.53, for a total transaction of $247,830.00. Following the sale, the insider now owns 331,143 shares in the company, valued at $7,460,651.79. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, President Timothy H. Young sold 15,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 24th. The shares were sold at an average price of $22.70, for a total transaction of $340,500.00. Following the sale, the president now owns 1,569,623 shares in the company, valued at approximately $35,630,442.10. The disclosure for this sale can be found here. Insiders sold a total of 72,270 shares of company stock valued at $1,649,465 over the last ninety days. Insiders own 25.05% of the company’s stock.

Dropbox Price Performance

DBX stock opened at $22.10 on Wednesday. Dropbox, Inc. has a 12 month low of $19.07 and a 12 month high of $31.55. The firm has a market cap of $8.30 billion, a PE ratio of 24.83, a P/E/G ratio of 2.90 and a beta of 0.84. The firm has a 50 day simple moving average of $22.76 and a 200 day simple moving average of $22.16.

Dropbox (NASDAQ:DBXGet Rating) last released its earnings results on Thursday, August 4th. The company reported $0.20 EPS for the quarter, missing the consensus estimate of $0.21 by ($0.01). Dropbox had a net margin of 15.19% and a negative return on equity of 94.26%. The business had revenue of $572.70 million for the quarter, compared to analyst estimates of $571.27 million. During the same period in the prior year, the company earned $0.24 earnings per share. The firm’s revenue for the quarter was up 7.9% on a year-over-year basis. As a group, sell-side analysts expect that Dropbox, Inc. will post 0.83 earnings per share for the current year.

Analysts Set New Price Targets

A number of analysts have recently weighed in on DBX shares. Citigroup started coverage on shares of Dropbox in a research note on Thursday, September 1st. They issued a “neutral” rating and a $24.00 price target for the company. Bank of America started coverage on shares of Dropbox in a research note on Tuesday, September 6th. They issued a “buy” rating and a $34.00 price target for the company. KeyCorp started coverage on shares of Dropbox in a research note on Monday. They issued an “overweight” rating and a $30.00 price target for the company. Finally, Jefferies Financial Group reduced their price target on shares of Dropbox from $35.00 to $30.00 in a research note on Monday, May 23rd. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $28.83.

Dropbox Profile

(Get Rating)

Dropbox, Inc is a collaboration platform that’s transforming the way people and teams work together. It offers the following products: Dropbox Basic, Dropbox Plus, Dropbox Professional, and Dropbox Business. The Dropbox Basic is the simple, powerful home for photos, videos, documents, and other files.

Featured Stories

Institutional Ownership by Quarter for Dropbox (NASDAQ:DBX)

Receive News & Ratings for Dropbox Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Dropbox and related companies with MarketBeat.com's FREE daily email newsletter.