Assenagon Asset Management S.A. Invests $258,000 in Dropbox, Inc. (NASDAQ:DBX)

Assenagon Asset Management S.A. bought a new position in shares of Dropbox, Inc. (NASDAQ:DBXGet Rating) during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 12,431 shares of the company’s stock, valued at approximately $258,000.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Robeco Institutional Asset Management B.V. boosted its holdings in shares of Dropbox by 8.3% during the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 1,640,792 shares of the company’s stock worth $34,000,000 after purchasing an additional 125,126 shares during the last quarter. Achmea Investment Management B.V. boosted its holdings in shares of Dropbox by 2.2% during the 3rd quarter. Achmea Investment Management B.V. now owns 190,449 shares of the company’s stock worth $3,946,000 after purchasing an additional 4,059 shares during the last quarter. Hancock Whitney Corp lifted its holdings in Dropbox by 2.0% in the third quarter. Hancock Whitney Corp now owns 81,441 shares of the company’s stock valued at $1,687,000 after acquiring an additional 1,611 shares during the last quarter. Meritage Portfolio Management acquired a new position in Dropbox in the third quarter valued at approximately $7,438,000. Finally, Versor Investments LP lifted its holdings in Dropbox by 15.9% in the third quarter. Versor Investments LP now owns 94,606 shares of the company’s stock valued at $1,960,000 after acquiring an additional 12,953 shares during the last quarter. 61.80% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts recently commented on DBX shares. The Goldman Sachs Group decreased their price objective on Dropbox from $25.00 to $22.00 and set a “sell” rating on the stock in a report on Monday, November 7th. Jefferies Financial Group cut Dropbox from a “buy” rating to a “hold” rating and decreased their price objective for the company from $28.00 to $25.00 in a report on Thursday, January 5th. Finally, Credit Suisse Group started coverage on Dropbox in a research report on Monday, November 21st. They issued an “underperform” rating and a $20.00 target price on the stock. Two analysts have rated the stock with a sell rating, two have given a hold rating and three have assigned a buy rating to the company. According to MarketBeat, Dropbox has a consensus rating of “Hold” and a consensus price target of $26.43.

Dropbox Stock Up 1.0 %

Shares of NASDAQ DBX opened at $22.97 on Thursday. The firm has a market cap of $8.33 billion, a price-to-earnings ratio of 24.70, a PEG ratio of 3.26 and a beta of 0.81. Dropbox, Inc. has a 52-week low of $19.07 and a 52-week high of $25.81. The business’s 50 day moving average is $22.64 and its two-hundred day moving average is $22.24.

Dropbox (NASDAQ:DBXGet Rating) last posted its quarterly earnings data on Thursday, November 3rd. The company reported $0.25 earnings per share for the quarter, topping analysts’ consensus estimates of $0.21 by $0.04. Dropbox had a negative return on equity of 74.21% and a net margin of 15.25%. The business had revenue of $591.00 million for the quarter, compared to analyst estimates of $585.45 million. Analysts anticipate that Dropbox, Inc. will post 0.87 EPS for the current fiscal year.

Insider Transactions at Dropbox

In other news, CEO Andrew Houston sold 162,500 shares of the company’s stock in a transaction on Thursday, November 10th. The stock was sold at an average price of $22.26, for a total transaction of $3,617,250.00. Following the sale, the chief executive officer now owns 12,500 shares of the company’s stock, valued at $278,250. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, President Timothy H. Young sold 15,000 shares of the stock in a transaction on Monday, October 24th. The stock was sold at an average price of $21.51, for a total value of $322,650.00. Following the transaction, the president now owns 1,539,623 shares of the company’s stock, valued at $33,117,290.73. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Andrew Houston sold 162,500 shares of the stock in a transaction on Thursday, November 10th. The shares were sold at an average price of $22.26, for a total value of $3,617,250.00. Following the completion of the transaction, the chief executive officer now directly owns 12,500 shares in the company, valued at approximately $278,250. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 572,298 shares of company stock valued at $12,788,431. 25.05% of the stock is currently owned by company insiders.

Dropbox Profile

(Get Rating)

Dropbox, Inc provides a content collaboration platform worldwide. Its 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. As of December 31, 2021, the company had approximately 700 million registered users.

Featured Stories

Want to see what other hedge funds are holding DBX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Dropbox, Inc. (NASDAQ:DBXGet Rating).

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.