Natixis Advisors LLC Acquires 3,497 Shares of Dropbox, Inc. (NASDAQ:DBX)

Natixis Advisors LLC grew its holdings in shares of Dropbox, Inc. (NASDAQ:DBX) by 32.0% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 14,410 shares of the company’s stock after acquiring an additional 3,497 shares during the period. Natixis Advisors LLC’s holdings in Dropbox were worth $385,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of DBX. True Wealth Design LLC increased its position in shares of Dropbox by 191.0% during the fourth quarter. True Wealth Design LLC now owns 1,036 shares of the company’s stock worth $31,000 after buying an additional 680 shares during the period. SBI Securities Co. Ltd. raised its stake in Dropbox by 33.4% during the first quarter. SBI Securities Co. Ltd. now owns 1,794 shares of the company’s stock worth $48,000 after buying an additional 449 shares during the last quarter. Fifth Third Bancorp raised its stake in Dropbox by 27.3% during the first quarter. Fifth Third Bancorp now owns 2,288 shares of the company’s stock worth $61,000 after buying an additional 490 shares during the last quarter. UMB Bank n.a. raised its stake in Dropbox by 115.0% during the first quarter. UMB Bank n.a. now owns 2,501 shares of the company’s stock worth $67,000 after buying an additional 1,338 shares during the last quarter. Finally, Promethos Capital LLC bought a new position in Dropbox during the fourth quarter worth $100,000. Institutional investors own 94.84% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the stock. Citigroup raised their price target on shares of Dropbox from $30.00 to $32.00 and gave the stock a “neutral” rating in a report on Friday, May 9th. UBS Group reduced their price objective on shares of Dropbox from $31.00 to $29.00 and set a “neutral” rating for the company in a report on Friday.

Dropbox Price Performance

Shares of NASDAQ DBX opened at $26.87 on Tuesday. The stock has a market capitalization of $7.56 billion, a P/E ratio of 16.38, a P/E/G ratio of 10.58 and a beta of 0.64. The company has a 50-day moving average price of $27.84 and a 200-day moving average price of $28.20. Dropbox, Inc. has a 1 year low of $21.82 and a 1 year high of $33.33.

Dropbox (NASDAQ:DBX) last released its quarterly earnings results on Thursday, August 7th. The company reported $0.71 earnings per share for the quarter, topping the consensus estimate of $0.63 by $0.08. Dropbox had a net margin of 19.17% and a negative return on equity of 61.31%. The business had revenue of $625.70 million for the quarter, compared to analysts’ expectations of $618.60 million. During the same period in the previous year, the company earned $0.60 earnings per share. The firm’s revenue for the quarter was down 1.4% compared to the same quarter last year. As a group, equities research analysts anticipate that Dropbox, Inc. will post 1.64 earnings per share for the current fiscal year.

Insider Buying and Selling at Dropbox

In related news, insider William T. Yoon sold 5,449 shares of the business’s stock in a transaction dated Friday, May 16th. The shares were sold at an average price of $28.94, for a total transaction of $157,694.06. Following the transaction, the insider directly owned 245,837 shares in the company, valued at approximately $7,114,522.78. The trade was a 2.17% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Andrew Houston sold 319,000 shares of the business’s stock in a transaction dated Wednesday, June 11th. The stock was sold at an average price of $28.48, for a total transaction of $9,085,120.00. Following the transaction, the chief executive officer owned 8,266,666 shares in the company, valued at approximately $235,434,647.68. This trade represents a 3.72% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 466,125 shares of company stock valued at $13,221,355 in the last quarter. 28.59% of the stock is owned by company insiders.

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.