Dropbox, Inc. $DBX Stake Lifted by Victory Capital Management Inc.

Victory Capital Management Inc. boosted its stake in Dropbox, Inc. (NASDAQ:DBX) by 4.5% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 797,760 shares of the company’s stock after buying an additional 34,359 shares during the period. Victory Capital Management Inc. owned 0.30% of Dropbox worth $24,100,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in DBX. AlphaCore Capital LLC increased its holdings in shares of Dropbox by 40.6% in the 3rd quarter. AlphaCore Capital LLC now owns 16,576 shares of the company’s stock worth $501,000 after acquiring an additional 4,788 shares during the period. Intech Investment Management LLC boosted its stake in Dropbox by 117.3% during the 3rd quarter. Intech Investment Management LLC now owns 407,958 shares of the company’s stock valued at $12,324,000 after purchasing an additional 220,176 shares during the period. Empirical Asset Management LLC boosted its stake in Dropbox by 2.2% during the 3rd quarter. Empirical Asset Management LLC now owns 26,538 shares of the company’s stock valued at $802,000 after purchasing an additional 564 shares during the period. Optiver Holding B.V. bought a new position in Dropbox in the 3rd quarter worth about $56,000. Finally, TD Asset Management Inc grew its position in Dropbox by 3.0% in the 3rd quarter. TD Asset Management Inc now owns 86,100 shares of the company’s stock worth $2,601,000 after purchasing an additional 2,500 shares during the last quarter. 94.84% of the stock is currently owned by institutional investors.

Dropbox Stock Down 0.1%

Shares of Dropbox stock opened at $26.75 on Tuesday. The business has a fifty day simple moving average of $25.86 and a 200-day simple moving average of $28.21. Dropbox, Inc. has a fifty-two week low of $23.63 and a fifty-two week high of $32.40. The firm has a market cap of $6.45 billion, a price-to-earnings ratio of 14.38, a price-to-earnings-growth ratio of 1.89 and a beta of 0.63.

Dropbox (NASDAQ:DBX) last released its earnings results on Thursday, February 19th. The company reported $0.68 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.66 by $0.02. Dropbox had a negative return on equity of 37.47% and a net margin of 20.17%.The firm had revenue of $636.20 million for the quarter, compared to analyst estimates of $627.83 million. During the same period in the previous year, the company earned $0.73 earnings per share. Dropbox’s revenue was down 1.1% compared to the same quarter last year. Analysts anticipate that Dropbox, Inc. will post 1.64 earnings per share for the current fiscal year.

Insider Buying and Selling at Dropbox

In other news, CEO Andrew Houston sold 109,498 shares of the stock in a transaction on Monday, March 2nd. The stock was sold at an average price of $24.94, for a total transaction of $2,730,880.12. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Ashraf Alkarmi sold 12,472 shares of the firm’s stock in a transaction on Tuesday, March 3rd. The stock was sold at an average price of $26.00, for a total value of $324,272.00. Following the sale, the insider directly owned 414,661 shares of the company’s stock, valued at approximately $10,781,186. This represents a 2.92% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 451,613 shares of company stock valued at $11,737,127 in the last ninety days. Company insiders own 28.59% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on DBX shares. Wall Street Zen cut Dropbox from a “buy” rating to a “hold” rating in a report on Friday, January 23rd. JPMorgan Chase & Co. decreased their price objective on Dropbox from $29.00 to $25.00 and set a “neutral” rating for the company in a report on Friday, February 20th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Dropbox in a research note on Wednesday, January 21st. Royal Bank Of Canada reduced their price target on Dropbox from $35.00 to $30.00 and set an “outperform” rating for the company in a research report on Friday, February 20th. Finally, UBS Group decreased their price target on Dropbox from $27.00 to $23.00 and set a “sell” rating for the company in a research note on Friday, February 20th. One investment analyst has rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Dropbox presently has a consensus rating of “Hold” and a consensus target price of $27.50.

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.