Handelsbanken Fonder AB Buys 4,600 Shares of Dropbox, Inc. (NASDAQ:DBX)

Handelsbanken Fonder AB boosted its stake in shares of Dropbox, Inc. (NASDAQ:DBX) by 11.7% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 43,900 shares of the company’s stock after acquiring an additional 4,600 shares during the quarter. Handelsbanken Fonder AB’s holdings in Dropbox were worth $1,294,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in DBX. SG Americas Securities LLC boosted its stake in shares of Dropbox by 282.6% in the 3rd quarter. SG Americas Securities LLC now owns 59,831 shares of the company’s stock valued at $1,629,000 after purchasing an additional 44,193 shares during the last quarter. Commonwealth Equity Services LLC boosted 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 during the last quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund boosted its stake in shares of 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 valued at $3,794,000 after purchasing an additional 38,000 shares during the last quarter. Kingswood Wealth Advisors LLC bought a new position in shares of Dropbox in the 3rd quarter valued at about $62,000. Finally, Raymond James & Associates boosted its stake in shares of Dropbox by 10.8% in the 3rd quarter. Raymond James & Associates now owns 184,891 shares of the company’s stock valued at $5,035,000 after purchasing an additional 18,087 shares during the last quarter. Institutional investors own 94.84% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on DBX. Citigroup reduced their target price on shares of Dropbox from $31.00 to $27.00 and set a “neutral” rating on the stock in a research note on Friday, March 22nd. KeyCorp lifted their price objective 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. JMP Securities lowered shares of Dropbox from an “outperform” rating to a “market perform” rating in a research note on Friday, February 16th. The Goldman Sachs Group lowered shares of Dropbox from a “neutral” rating to a “sell” rating and reduced their price objective for the stock from $26.00 to $24.00 in a research note on Friday, February 16th. Finally, JPMorgan Chase & Co. lowered shares of Dropbox from an “overweight” rating to a “neutral” rating and reduced their price objective for the stock from $33.00 to $30.00 in a research note on Friday, February 16th. Three analysts have rated the stock with a sell rating, four have given a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $29.78.

Insiders Place Their Bets

In other news, CFO Timothy Regan sold 3,000 shares of Dropbox stock in a transaction that occurred on Tuesday, January 30th. The shares were sold at an average price of $32.50, for a total value of $97,500.00. Following the sale, 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 filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, insider Bart Volkmer sold 6,682 shares of the business’s stock in a transaction on Monday, April 15th. The shares were sold at an average price of $23.12, for a total transaction of $154,487.84. Following the transaction, the insider now directly owns 372,332 shares in the company, valued at $8,608,315.84. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CFO Timothy Regan sold 3,000 shares of the business’s stock in a transaction on Tuesday, January 30th. The stock was sold at an average price of $32.50, for a total transaction of $97,500.00. Following the transaction, the chief financial officer now owns 434,761 shares in the company, valued at $14,129,732.50. The disclosure for this sale can be found here. In the last three months, insiders have sold 189,721 shares of company stock worth $4,548,575. Company insiders own 26.40% of the company’s stock.

Dropbox Stock Performance

Shares of DBX stock opened at $24.15 on Friday. The company has a market capitalization of $8.31 billion, a P/E ratio of 18.30, a price-to-earnings-growth ratio of 2.69 and a beta of 0.71. The company’s 50 day moving average price is $23.81 and its two-hundred day moving average price is $27.30. Dropbox, Inc. has a 52 week low of $19.55 and a 52 week high of $33.43.

Dropbox (NASDAQ:DBX) last announced its earnings results on Thursday, February 15th. The company reported $0.25 EPS for the quarter, missing the consensus estimate of $0.26 by ($0.01). The company had revenue of $635.00 million for the quarter, compared to analyst estimates of $630.77 million. Dropbox had a negative return on equity of 120.82% and a net margin of 18.13%. Analysts forecast that Dropbox, Inc. will post 1.14 earnings per share for the current year.

About Dropbox

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.