Pzena Investment Management LLC Makes New $432,000 Investment in Dropbox, Inc. (NASDAQ:DBX)

Pzena Investment Management LLC acquired a new position in Dropbox, Inc. (NASDAQ:DBX) in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 19,231 shares of the company’s stock, valued at approximately $432,000.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. GAMMA Investing LLC purchased a new position in shares of Dropbox during the fourth quarter valued at approximately $25,000. Truist Financial Corp lifted its holdings in shares of Dropbox by 1.8% during the fourth quarter. Truist Financial Corp now owns 42,999 shares of the company’s stock valued at $1,268,000 after purchasing an additional 769 shares during the last quarter. Victory Capital Management Inc. lifted its holdings in shares of Dropbox by 59.8% during the fourth quarter. Victory Capital Management Inc. now owns 187,167 shares of the company’s stock valued at $5,518,000 after purchasing an additional 70,028 shares during the last quarter. Fisher Asset Management LLC lifted its holdings in shares of Dropbox by 10.9% during the fourth quarter. Fisher Asset Management LLC now owns 130,164 shares of the company’s stock valued at $3,837,000 after purchasing an additional 12,782 shares during the last quarter. Finally, Natixis Advisors L.P. purchased a new position in shares of Dropbox during the fourth quarter valued at approximately $354,000. 94.84% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Dropbox news, CFO Timothy Regan sold 3,000 shares of Dropbox stock in a transaction that occurred on Monday, July 15th. The shares were sold at an average price of $22.76, for a total value of $68,280.00. Following the completion of the sale, the chief financial officer now owns 535,122 shares of the company’s stock, valued at approximately $12,179,376.72. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other Dropbox news, CFO Timothy Regan sold 3,000 shares of Dropbox stock in a transaction that occurred on Monday, July 15th. The shares were sold at an average price of $22.76, for a total value of $68,280.00. Following the completion of the sale, the chief financial officer now owns 535,122 shares of the company’s stock, valued at approximately $12,179,376.72. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Bart Volkmer sold 7,000 shares of Dropbox stock in a transaction that occurred on Monday, July 15th. The stock was sold at an average price of $22.76, for a total transaction of $159,320.00. Following the completion of the sale, the insider now directly owns 333,934 shares of the company’s stock, valued at approximately $7,600,337.84. The disclosure for this sale can be found here. In the last quarter, insiders sold 113,536 shares of company stock valued at $2,536,251. Company insiders own 26.40% of the company’s stock.

Dropbox Stock Down 1.0 %

Shares of NASDAQ DBX opened at $23.77 on Thursday. Dropbox, Inc. has a twelve month low of $20.68 and a twelve month high of $33.43. The firm has a market cap of $7.85 billion, a P/E ratio of 15.74, a PEG ratio of 1.57 and a beta of 0.65. The company has a 50 day moving average of $23.13 and a 200 day moving average of $23.21.

Dropbox (NASDAQ:DBX) last announced its quarterly earnings data on Thursday, August 8th. The company reported $0.60 earnings per share for the quarter, topping analysts’ consensus estimates of $0.52 by $0.08. Dropbox had a net margin of 23.06% and a negative return on equity of 161.78%. The company had revenue of $634.50 million during the quarter, compared to analyst estimates of $630.10 million. During the same period in the previous year, the business earned $0.28 EPS. The firm’s revenue for the quarter was up 1.9% on a year-over-year basis. As a group, equities analysts expect that Dropbox, Inc. will post 1.31 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the stock. Citigroup lowered their target price on shares of Dropbox from $26.00 to $25.00 and set a “neutral” rating for the company in a report on Wednesday, June 26th. UBS Group lowered their target price on shares of Dropbox from $30.00 to $28.00 and set a “buy” rating for the company in a report on Friday, August 9th. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $28.67.

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.