Assenagon Asset Management S.A. Buys 19,996 Shares of Dropbox, Inc. $DBX

Assenagon Asset Management S.A. raised its stake in Dropbox, Inc. (NASDAQ:DBX) by 22.5% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 108,980 shares of the company’s stock after buying an additional 19,996 shares during the quarter. Assenagon Asset Management S.A.’s holdings in Dropbox were worth $3,292,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Neo Ivy Capital Management bought a new stake in shares of Dropbox in the 2nd quarter valued at about $30,000. Geneos Wealth Management Inc. grew its holdings in Dropbox by 78.0% during the second quarter. Geneos Wealth Management Inc. now owns 1,273 shares of the company’s stock valued at $36,000 after purchasing an additional 558 shares during the period. Brooklyn Investment Group grew its holdings in Dropbox by 250.3% during the first quarter. Brooklyn Investment Group now owns 1,387 shares of the company’s stock valued at $37,000 after purchasing an additional 991 shares during the period. Cullen Frost Bankers Inc. bought a new stake in Dropbox in the second quarter valued at approximately $41,000. Finally, EverSource Wealth Advisors LLC raised its holdings in Dropbox by 88.0% in the second quarter. EverSource Wealth Advisors LLC now owns 1,681 shares of the company’s stock worth $48,000 after purchasing an additional 787 shares during the period. Institutional investors own 94.84% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on DBX shares. Royal Bank Of Canada boosted their price target on shares of Dropbox from $35.00 to $38.00 and gave the company an “outperform” rating in a report on Friday, November 7th. UBS Group lowered Dropbox from a “neutral” rating to a “sell” rating and reduced their target price for the stock from $29.00 to $27.00 in a report on Thursday, September 18th. Weiss Ratings reissued a “hold (c+)” rating on shares of Dropbox in a research note on Wednesday, October 8th. Finally, Wall Street Zen raised Dropbox from a “hold” rating to a “buy” rating in a research report on Saturday, November 8th. One equities research analyst has rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $31.75.

Dropbox Price Performance

Shares of Dropbox stock opened at $28.49 on Tuesday. The firm has a market cap of $7.37 billion, a price-to-earnings ratio of 16.10, a price-to-earnings-growth ratio of 2.45 and a beta of 0.63. The stock’s 50-day moving average is $29.27 and its 200-day moving average is $28.87. Dropbox, Inc. has a one year low of $24.42 and a one year high of $33.33.

Dropbox (NASDAQ:DBX) last posted its quarterly earnings data on Thursday, November 6th. The company reported $0.74 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.64 by $0.10. The business had revenue of $634.40 million during the quarter, compared to the consensus estimate of $623.59 million. Dropbox had a negative return on equity of 49.51% and a net margin of 19.87%.Dropbox’s quarterly revenue was down .7% on a year-over-year basis. During the same period last year, the company earned $0.60 earnings per share. On average, equities analysts expect that Dropbox, Inc. will post 1.64 EPS for the current year.

Insider Buying and Selling

In other news, CTO Ali Dasdan sold 5,666 shares of the business’s stock in a transaction on Monday, November 24th. The shares were sold at an average price of $30.00, for a total value of $169,980.00. Following the sale, the chief technology officer owned 520,474 shares of the company’s stock, valued at $15,614,220. The trade was a 1.08% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CAO Sarah Elizabeth Schubach sold 1,168 shares of the stock in a transaction on Monday, December 1st. The stock was sold at an average price of $29.60, for a total transaction of $34,572.80. Following the transaction, the chief accounting officer owned 96,206 shares of the company’s stock, valued at $2,847,697.60. The trade was a 1.20% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 362,915 shares of company stock valued at $10,793,706 over the last ninety days. Insiders own 28.59% of the company’s stock.

Dropbox Company Profile

Dropbox, Inc (NASDAQ: DBX) is a leading provider of cloud-based file storage, collaboration, and productivity tools. Founded in 2007 and headquartered in San Francisco, California, the company offers a suite of services designed to help individuals and organizations securely store, share, and manage digital content. Dropbox has grown from a simple file-syncing application into an integrated collaboration platform used by millions of customers around the globe.

At its core, Dropbox provides cloud storage plans tailored for consumers and businesses.