iA Global Asset Management Inc. Purchases 2,335 Shares of Dropbox, Inc. (NASDAQ:DBX)

iA Global Asset Management Inc. raised its holdings in shares of Dropbox, Inc. (NASDAQ:DBX) by 34.4% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 9,128 shares of the company’s stock after acquiring an additional 2,335 shares during the period. iA Global Asset Management Inc.’s holdings in Dropbox were worth $222,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the business. Arizona State Retirement System grew its holdings in shares of Dropbox by 0.7% in the fourth quarter. Arizona State Retirement System now owns 71,322 shares of the company’s stock worth $2,103,000 after purchasing an additional 524 shares during the last quarter. Asset Management One Co. Ltd. lifted its position in Dropbox by 8.1% during the fourth quarter. Asset Management One Co. Ltd. now owns 99,315 shares of the company’s stock valued at $2,952,000 after buying an additional 7,416 shares during the period. Legacy Trust grew its position in shares of Dropbox by 2.3% in the 4th quarter. Legacy Trust now owns 137,292 shares of the company’s stock worth $4,047,000 after buying an additional 3,118 shares during the period. Stratos Wealth Partners LTD. lifted its position in Dropbox by 1.8% during the 4th quarter. Stratos Wealth Partners LTD. now owns 23,086 shares of the company’s stock valued at $681,000 after acquiring an additional 415 shares during the period. Finally, DekaBank Deutsche Girozentrale grew its holdings in Dropbox by 65.8% in the fourth quarter. DekaBank Deutsche Girozentrale now owns 2,189,593 shares of the company’s stock worth $64,825,000 after purchasing an additional 869,043 shares during the period. 94.84% of the stock is owned by hedge funds and other institutional investors.

Dropbox Stock Performance

Shares of Dropbox stock traded down $0.57 on Friday, hitting $22.65. 1,474,871 shares of the company traded hands, compared to its average volume of 4,008,413. The stock has a market capitalization of $7.48 billion, a P/E ratio of 15.38, a price-to-earnings-growth ratio of 1.66 and a beta of 0.65. The business has a 50-day simple moving average of $22.44 and a 200 day simple moving average of $24.72. Dropbox, Inc. has a 52 week low of $20.68 and a 52 week high of $33.43.

Dropbox (NASDAQ:DBX) last announced its earnings results on Thursday, May 9th. The company reported $0.41 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.28 by $0.13. Dropbox had a net margin of 20.50% and a negative return on equity of 148.13%. The firm had revenue of $631.30 million for the quarter, compared to analysts’ expectations of $628.81 million. Research analysts expect that Dropbox, Inc. will post 1.26 earnings per share for the current year.

Analyst Upgrades and Downgrades

Separately, Citigroup dropped their target price on shares of Dropbox from $26.00 to $25.00 and set a “neutral” rating on the stock in a research note on Wednesday, June 26th. Three research analysts have rated the stock with a sell rating, four have issued a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $29.56.

Insider Transactions at Dropbox

In other Dropbox news, insider Eric Cox sold 8,536 shares of the business’s stock in a transaction on Monday, June 10th. The shares were sold at an average price of $21.27, for a total transaction of $181,560.72. Following the transaction, the insider now owns 350,471 shares in the company, valued at $7,454,518.17. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other news, insider Eric Cox sold 8,536 shares of the company’s stock in a transaction that occurred on Monday, June 10th. The shares were sold at an average price of $21.27, for a total value of $181,560.72. Following the completion of the sale, the insider now owns 350,471 shares of the company’s stock, valued at approximately $7,454,518.17. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Timothy Regan sold 3,000 shares of the stock in a transaction that occurred on Monday, July 15th. The shares were sold at an average price of $22.76, for a total transaction of $68,280.00. Following the transaction, the chief financial officer now owns 535,122 shares in the company, valued at $12,179,376.72. 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 company insiders.

Dropbox 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.