Arrowstreet Capital Limited Partnership Boosts Stock Holdings in Dropbox, Inc. $DBX

Arrowstreet Capital Limited Partnership increased its stake in Dropbox, Inc. (NASDAQ:DBX) by 12.7% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 8,533,736 shares of the company’s stock after acquiring an additional 960,109 shares during the period. Arrowstreet Capital Limited Partnership owned approximately 3.54% of Dropbox worth $193,886,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Empowered Funds LLC increased its stake in shares of Dropbox by 7.3% during the first quarter. Empowered Funds LLC now owns 38,795 shares of the company’s stock worth $1,036,000 after buying an additional 2,655 shares during the period. Cetera Investment Advisers increased its holdings in shares of Dropbox by 10.8% in the 2nd quarter. Cetera Investment Advisers now owns 24,623 shares of the company’s stock valued at $704,000 after acquiring an additional 2,405 shares during the last quarter. EverSource Wealth Advisors LLC raised its holdings in Dropbox by 88.0% during 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 in the last quarter. Cresset Asset Management LLC boosted its stake in Dropbox by 75.8% in the second quarter. Cresset Asset Management LLC now owns 15,230 shares of the company’s stock valued at $436,000 after acquiring an additional 6,569 shares in the last quarter. Finally, Federated Hermes Inc. grew its holdings in shares of Dropbox by 360.9% during the second quarter. Federated Hermes Inc. now owns 117,852 shares of the company’s stock worth $3,371,000 after purchasing an additional 92,280 shares during the last quarter. 94.84% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Dropbox

In other news, Director Karen Peacock sold 2,000 shares of Dropbox stock in a transaction dated Tuesday, July 7th. The shares were sold at an average price of $29.00, for a total value of $58,000.00. Following the completion of the transaction, the director directly owned 24,366 shares of the company’s stock, valued at approximately $706,614. The trade was a 7.59% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Andrew Houston sold 30,332 shares of the business’s stock in a transaction dated Monday, May 18th. The shares were sold at an average price of $27.50, for a total transaction of $834,130.00. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 129,082 shares of company stock valued at $3,489,910 in the last ninety days. 35.48% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on DBX shares. Wall Street Zen upgraded shares of Dropbox from a “hold” rating to a “buy” rating in a research report on Sunday, June 28th. Royal Bank Of Canada reiterated an “outperform” rating on shares of Dropbox in a research note on Monday, June 1st. Citigroup boosted their target price on Dropbox from $27.00 to $28.00 and gave the company a “neutral” rating in a report on Monday, May 11th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Dropbox in a research report on Monday, May 4th. One analyst has rated the stock with a Buy rating, three have given a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Reduce” and a consensus price target of $27.00.

Dropbox Price Performance

Shares of DBX stock opened at $29.19 on Friday. Dropbox, Inc. has a 1-year low of $21.69 and a 1-year high of $32.40. The firm has a fifty day moving average of $27.85 and a two-hundred day moving average of $26.02. The firm has a market cap of $6.81 billion, a P/E ratio of 15.95, a P/E/G ratio of 3.11 and a beta of 0.66.

Dropbox (NASDAQ:DBX) last posted its quarterly earnings results on Thursday, May 7th. The company reported $0.76 EPS for the quarter, topping analysts’ consensus estimates of $0.71 by $0.05. Dropbox had a negative return on equity of 30.01% and a net margin of 18.71%.The business had revenue of $629.50 million during the quarter, compared to the consensus estimate of $620.56 million. During the same period last year, the firm earned $0.70 earnings per share. The company’s revenue for the quarter was up .8% compared to the same quarter last year. On average, sell-side analysts expect that Dropbox, Inc. will post 2.09 EPS for the current year.

Dropbox 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.