Charles Schwab Investment Management Inc. Boosts Position in Dropbox, Inc. (NASDAQ:DBX)

Charles Schwab Investment Management Inc. boosted its position in shares of Dropbox, Inc. (NASDAQ:DBX) by 1.2% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 2,950,273 shares of the company’s stock after purchasing an additional 36,268 shares during the quarter. Charles Schwab Investment Management Inc. owned approximately 0.98% of Dropbox worth $78,802,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. SG Americas Securities LLC purchased a new position in shares of Dropbox in the 1st quarter worth about $647,000. Rehmann Capital Advisory Group acquired a new stake in Dropbox during the 1st quarter valued at approximately $675,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in shares of Dropbox by 8.5% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,761,252 shares of the company’s stock worth $52,908,000 after acquiring an additional 137,916 shares in the last quarter. Envestnet Asset Management Inc. grew its position in shares of Dropbox by 31.9% in the 4th quarter. Envestnet Asset Management Inc. now owns 39,526 shares of the company’s stock worth $1,187,000 after acquiring an additional 9,570 shares in the last quarter. Finally, Commerce Bank grew its position in shares of Dropbox by 94.9% in the 1st quarter. Commerce Bank now owns 203,052 shares of the company’s stock worth $5,424,000 after acquiring an additional 98,867 shares in the last quarter. 94.84% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Dropbox

In other news, CFO Timothy Regan sold 10,000 shares of Dropbox stock in a transaction on Tuesday, July 1st. The stock was sold at an average price of $27.94, for a total value of $279,400.00. Following the completion of the sale, the chief financial officer directly owned 516,094 shares of the company’s stock, valued at approximately $14,419,666.36. This trade represents a 1.90% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Karen Peacock sold 7,000 shares of Dropbox stock in a transaction on Tuesday, May 27th. The shares were sold at an average price of $28.53, for a total value of $199,710.00. Following the completion of the sale, the director directly owned 25,295 shares of the company’s stock, valued at $721,666.35. This trade represents a 21.68% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 463,625 shares of company stock worth $13,147,530. 29.95% of the stock is owned by company insiders.

Dropbox Trading Up 2.9%

Shares of DBX stock opened at $28.13 on Thursday. The stock has a 50 day moving average of $27.77 and a two-hundred day moving average of $28.19. Dropbox, Inc. has a 12 month low of $22.32 and a 12 month high of $33.33. The company has a market capitalization of $7.92 billion, a P/E ratio of 17.15, a P/E/G ratio of 3.68 and a beta of 0.64.

Dropbox (NASDAQ:DBX) last announced its quarterly earnings results on Thursday, August 7th. The company reported $0.71 earnings per share for the quarter, beating analysts’ consensus estimates of $0.63 by $0.08. Dropbox had a negative return on equity of 61.31% and a net margin of 19.17%. The firm had revenue of $625.70 million for the quarter, compared to analysts’ expectations of $618.60 million. During the same period in the prior year, the business posted $0.60 earnings per share. The business’s revenue was down 1.4% compared to the same quarter last year. Sell-side analysts predict that Dropbox, Inc. will post 1.64 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on DBX. UBS Group dropped their price objective on Dropbox from $31.00 to $29.00 and set a “neutral” rating on the stock in a research note on Friday, August 8th. Citigroup boosted their price objective on Dropbox from $30.00 to $32.00 and gave the stock a “neutral” rating in a research note on Friday, May 9th.

Dropbox 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.