Dropbox, Inc. (NASDAQ:DBX) Shares Bought by Federated Hermes Inc.

Federated Hermes Inc. grew its stake in Dropbox, Inc. (NASDAQ:DBX) by 17.6% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 141,664 shares of the company’s stock after purchasing an additional 21,193 shares during the period. Federated Hermes Inc.’s holdings in Dropbox were worth $4,176,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. SG Americas Securities LLC grew its position in Dropbox by 282.6% during the third quarter. SG Americas Securities LLC now owns 59,831 shares of the company’s stock valued at $1,629,000 after buying an additional 44,193 shares during the period. UMB Bank n.a. grew its position in shares of Dropbox by 2,209.4% during the 3rd quarter. UMB Bank n.a. now owns 70,207 shares of the company’s stock valued at $1,912,000 after acquiring an additional 67,167 shares during the period. Oak Thistle LLC purchased a new position in shares of Dropbox in the 3rd quarter valued at about $803,000. Commonwealth Equity Services LLC increased its stake in shares of Dropbox by 30.6% in the 3rd quarter. Commonwealth Equity Services LLC now owns 23,371 shares of the company’s stock valued at $636,000 after purchasing an additional 5,480 shares in the last quarter. Finally, Fjarde AP Fonden Fourth Swedish National Pension Fund raised its holdings in Dropbox by 37.5% in the 3rd quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 139,320 shares of the company’s stock worth $3,794,000 after purchasing an additional 38,000 shares during the period. Institutional investors and hedge funds own 94.84% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on DBX. Bank of America cut Dropbox from a “buy” rating to an “underperform” rating and cut their price objective for the company from $34.00 to $28.00 in a research report on Friday, February 16th. The Goldman Sachs Group lowered shares of Dropbox from a “neutral” rating to a “sell” rating and cut their price target for the stock from $26.00 to $24.00 in a report on Friday, February 16th. Citigroup decreased their price objective on shares of Dropbox from $31.00 to $27.00 and set a “neutral” rating on the stock in a report on Friday, March 22nd. KeyCorp boosted their target price on shares of Dropbox from $32.00 to $37.00 and gave the stock an “overweight” rating in a research note on Friday, January 19th. Finally, JMP Securities downgraded shares of Dropbox from an “outperform” rating to a “market perform” rating in a research report on Friday, February 16th. Three investment analysts have rated the stock with a sell rating, four have assigned a hold rating and three have issued a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $29.78.

Dropbox Trading Up 0.9 %

NASDAQ:DBX opened at $24.15 on Friday. The company has a market cap of $8.31 billion, a P/E ratio of 18.30, a P/E/G ratio of 2.70 and a beta of 0.71. Dropbox, Inc. has a twelve month low of $19.55 and a twelve month high of $33.43. The company’s 50-day moving average price is $23.81 and its 200-day moving average price is $27.30.

Dropbox (NASDAQ:DBX) last released its earnings results on Thursday, February 15th. The company reported $0.25 earnings per share for the quarter, missing analysts’ consensus estimates of $0.26 by ($0.01). The business had revenue of $635.00 million during the quarter, compared to analysts’ expectations of $630.77 million. Dropbox had a negative return on equity of 120.82% and a net margin of 18.13%. On average, analysts expect that Dropbox, Inc. will post 1.14 earnings per share for the current year.

Insiders Place Their Bets

In other Dropbox news, insider Bart Volkmer sold 7,039 shares of the firm’s stock in a transaction on Friday, March 15th. The stock was sold at an average price of $24.02, for a total value of $169,076.78. Following the completion of the sale, the insider now directly owns 233,988 shares of the company’s stock, valued at approximately $5,620,391.76. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, CFO Timothy Regan sold 3,000 shares of the company’s stock in a transaction that occurred on Tuesday, January 30th. The stock was sold at an average price of $32.50, for a total value of $97,500.00. Following the transaction, the chief financial officer now directly owns 434,761 shares in the company, valued at $14,129,732.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Bart Volkmer sold 7,039 shares of the stock in a transaction that occurred on Friday, March 15th. The stock was sold at an average price of $24.02, for a total value of $169,076.78. Following the completion of the transaction, the insider now owns 233,988 shares of the company’s stock, valued at $5,620,391.76. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 189,721 shares of company stock valued at $4,548,575. Insiders own 26.40% of the company’s stock.

Dropbox Company Profile

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.