Dropbox, Inc. (NASDAQ:DBX) Shares Acquired by Janus Henderson Group PLC

Janus Henderson Group PLC grew its stake in shares of Dropbox, Inc. (NASDAQ:DBX) by 16.4% in the first quarter, Holdings Channel.com reports. The fund owned 1,619,231 shares of the company’s stock after buying an additional 228,316 shares during the quarter. Janus Henderson Group PLC’s holdings in Dropbox were worth $39,340,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Stratos Wealth Partners LTD. raised its position in Dropbox by 1.8% during the fourth quarter. Stratos Wealth Partners LTD. now owns 23,086 shares of the company’s stock valued at $681,000 after buying an additional 415 shares during the period. Parallel Advisors LLC lifted its position in Dropbox by 7.4% in the 4th quarter. Parallel Advisors LLC now owns 6,642 shares of the company’s stock worth $196,000 after buying an additional 459 shares in the last quarter. Cooper Financial Group boosted its stake in shares of Dropbox by 3.1% during the 1st quarter. Cooper Financial Group now owns 15,581 shares of the company’s stock valued at $379,000 after buying an additional 462 shares during the period. Arizona State Retirement System grew its holdings in shares of Dropbox by 0.7% during the 4th quarter. Arizona State Retirement System now owns 71,322 shares of the company’s stock valued at $2,103,000 after acquiring an additional 524 shares in the last quarter. Finally, Cerity Partners LLC boosted its position in Dropbox by 0.7% during the fourth quarter. Cerity Partners LLC now owns 79,052 shares of the company’s stock valued at $2,330,000 after purchasing an additional 565 shares during the last quarter. 94.84% of the stock is owned by hedge funds and other institutional investors.

Dropbox Price Performance

Shares of NASDAQ:DBX traded down $0.30 during trading on Wednesday, reaching $24.23. The stock had a trading volume of 837,281 shares, compared to its average volume of 4,019,813. The stock has a market capitalization of $8.00 billion, a PE ratio of 16.25, a P/E/G ratio of 1.67 and a beta of 0.65. Dropbox, Inc. has a 52 week low of $20.68 and a 52 week high of $33.43. The business’s 50-day moving average price is $22.41 and its 200 day moving average price is $24.73.

Dropbox (NASDAQ:DBX) last posted its quarterly earnings data on Thursday, May 9th. The company reported $0.41 EPS for the quarter, topping analysts’ consensus estimates of $0.28 by $0.13. Dropbox had a negative return on equity of 148.13% and a net margin of 20.50%. The company had revenue of $631.30 million for the quarter, compared to analyst estimates of $628.81 million. Analysts forecast that Dropbox, Inc. will post 1.26 EPS for the current year.

Insider Buying and Selling at Dropbox

In other news, CEO Andrew Houston sold 82,000 shares of the stock in a transaction that occurred on Monday, June 3rd. The shares were sold at an average price of $22.40, for a total transaction of $1,836,800.00. Following the sale, the chief executive officer now directly owns 8,266,666 shares of the company’s stock, valued at $185,173,318.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, CFO Timothy Regan sold 3,000 shares of the firm’s stock in a transaction dated Wednesday, May 29th. The stock was sold at an average price of $23.12, for a total transaction of $69,360.00. Following the sale, the chief financial officer now owns 554,122 shares of the company’s stock, valued at $12,811,300.64. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Andrew Houston sold 82,000 shares of the business’s stock in a transaction that occurred on Monday, June 3rd. The shares were sold at an average price of $22.40, for a total value of $1,836,800.00. Following the completion of the transaction, the chief executive officer now owns 8,266,666 shares of the company’s stock, valued at $185,173,318.40. The disclosure for this sale can be found here. In the last 90 days, insiders sold 208,536 shares of company stock worth $4,672,611. 26.40% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Separately, Citigroup lowered their price objective on Dropbox from $26.00 to $25.00 and set a “neutral” rating on the stock in a report on Wednesday, June 26th. Three equities research analysts have rated the stock with a sell rating, four have given a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $29.56.

Dropbox Company 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.