Mitsubishi UFJ Trust & Banking Corp grew its holdings in Dropbox, Inc. (NASDAQ:DBX) by 2.5% in the first quarter, according to its most recent disclosure with the SEC. The fund owned 247,371 shares of the company’s stock after buying an additional 5,946 shares during the period. Mitsubishi UFJ Trust & Banking Corp owned 0.06% of Dropbox worth $6,585,000 at the end of the most recent reporting period.
Several other large investors have also made changes to their positions in DBX. Ironwood Wealth Management LLC. purchased a new stake in shares of Dropbox in the fourth quarter valued at about $28,000. California Public Employees Retirement System raised its holdings in shares of Dropbox by 6.6% in the fourth quarter. California Public Employees Retirement System now owns 596,859 shares of the company’s stock valued at $13,244,000 after buying an additional 36,815 shares during the last quarter. Cambridge Investment Research Advisors Inc. raised its holdings in shares of Dropbox by 112.3% in the fourth quarter. Cambridge Investment Research Advisors Inc. now owns 37,808 shares of the company’s stock valued at $839,000 after buying an additional 19,998 shares during the last quarter. Los Angeles Capital Management LLC raised its holdings in shares of Dropbox by 652.2% in the fourth quarter. Los Angeles Capital Management LLC now owns 1,713,099 shares of the company’s stock valued at $38,014,000 after buying an additional 1,485,339 shares during the last quarter. Finally, US Bancorp DE raised its holdings in shares of Dropbox by 20.4% in the fourth quarter. US Bancorp DE now owns 22,933 shares of the company’s stock valued at $509,000 after buying an additional 3,885 shares during the last quarter. 66.65% of the stock is owned by institutional investors and hedge funds.
DBX has been the subject of several analyst reports. DA Davidson reissued a “buy” rating on shares of Dropbox in a report on Wednesday, May 5th. Zacks Investment Research cut shares of Dropbox from a “buy” rating to a “hold” rating in a report on Tuesday, May 18th. TheStreet cut shares of Dropbox from a “c-” rating to a “d+” rating in a report on Thursday, May 13th. Finally, The Goldman Sachs Group initiated coverage on shares of Dropbox in a report on Friday, May 14th. They set a “sell” rating and a $26.00 price target for the company. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the stock. Dropbox has a consensus rating of “Hold” and an average price target of $26.75.
In other news, CFO Timothy Regan sold 3,884 shares of the stock in a transaction that occurred on Thursday, April 1st. The shares were sold at an average price of $26.92, for a total value of $104,557.28. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Bart Volkmer sold 10,000 shares of the stock in a transaction that occurred on Thursday, May 13th. The shares were sold at an average price of $24.49, for a total transaction of $244,900.00. The disclosure for this sale can be found here. Insiders have sold 152,958 shares of company stock worth $4,342,192 over the last 90 days. 23.75% of the stock is currently owned by company insiders.
Shares of DBX opened at $29.21 on Friday. The company has a quick ratio of 1.89, a current ratio of 1.89 and a debt-to-equity ratio of 0.51. The business’s 50-day moving average is $26.84. Dropbox, Inc. has a twelve month low of $17.66 and a twelve month high of $30.00. The firm has a market capitalization of $11.72 billion, a price-to-earnings ratio of -48.68, a P/E/G ratio of 1.12 and a beta of 0.89.
Dropbox (NASDAQ:DBX) last issued its earnings results on Thursday, May 6th. The company reported $0.35 earnings per share for the quarter, topping the consensus estimate of $0.15 by $0.20. Dropbox had a negative net margin of 12.59% and a positive return on equity of 43.70%. The company had revenue of $511.60 million for the quarter, compared to analyst estimates of $505.17 million. During the same period in the prior year, the business posted $0.17 earnings per share. The firm’s revenue for the quarter was up 12.4% compared to the same quarter last year. Sell-side analysts predict that Dropbox, Inc. will post 0.65 EPS for the current fiscal year.
Dropbox Company Profile
Dropbox, Inc provides a collaboration platform worldwide. Its platform allows individuals, 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. As of December 31, 2020, the company had approximately 700 million registered users across 180 countries.
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