Dropbox, Inc. (NASDAQ:DBX) Shares Bought by AlphaQuest LLC

AlphaQuest LLC lifted its stake in shares of Dropbox, Inc. (NASDAQ:DBX) by 114.0% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 22,064 shares of the company’s stock after buying an additional 11,753 shares during the quarter. AlphaQuest LLC’s holdings in Dropbox were worth $663,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in DBX. Pacer Advisors Inc. raised its stake in Dropbox by 4.5% in the third quarter. Pacer Advisors Inc. now owns 7,788,652 shares of the company’s stock valued at $198,065,000 after buying an additional 333,245 shares in the last quarter. Jacobs Levy Equity Management Inc. increased its holdings in shares of Dropbox by 6.2% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 6,239,493 shares of the company’s stock valued at $158,670,000 after acquiring an additional 365,893 shares during the last quarter. Geode Capital Management LLC raised its position in shares of Dropbox by 0.6% during the 3rd quarter. Geode Capital Management LLC now owns 4,366,271 shares of the company’s stock worth $111,368,000 after acquiring an additional 25,893 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its stake in Dropbox by 4.2% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,914,005 shares of the company’s stock worth $87,537,000 after purchasing an additional 117,767 shares during the last quarter. Finally, Retirement Systems of Alabama lifted its stake in Dropbox by 15.2% during the third quarter. Retirement Systems of Alabama now owns 944,033 shares of the company’s stock worth $24,007,000 after purchasing an additional 124,528 shares during the last quarter. 94.84% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, CFO Timothy Regan sold 2,500 shares of the firm’s stock in a transaction dated Monday, December 30th. The stock was sold at an average price of $30.38, for a total transaction of $75,950.00. Following the transaction, the chief financial officer now owns 413,764 shares of the company’s stock, valued at $12,570,150.32. This trade represents a 0.60 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO Andrew Houston sold 500,323 shares of the business’s stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $29.65, for a total value of $14,834,576.95. Following the completion of the transaction, the chief executive officer now owns 8,266,666 shares in the company, valued at $245,106,646.90. This trade represents a 5.71 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 634,504 shares of company stock valued at $18,935,530. 28.59% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Separately, Jefferies Financial Group increased their price target on shares of Dropbox from $27.00 to $30.00 and gave the company a “hold” rating in a research note on Monday, January 6th.

Dropbox Price Performance

Shares of DBX opened at $25.28 on Wednesday. The firm has a fifty day moving average price of $29.97 and a 200 day moving average price of $27.89. The stock has a market cap of $7.63 billion, a PE ratio of 17.93, a price-to-earnings-growth ratio of 1.70 and a beta of 0.77. Dropbox, Inc. has a 1-year low of $20.68 and a 1-year high of $33.33.

Dropbox (NASDAQ:DBX) last posted its earnings results on Thursday, February 20th. The company reported $0.51 earnings per share for the quarter, missing the consensus estimate of $0.62 by ($0.11). The firm had revenue of $643.60 million during the quarter, compared to analysts’ expectations of $638.61 million. Dropbox had a net margin of 17.75% and a negative return on equity of 132.63%. As a group, equities analysts expect that Dropbox, Inc. will post 1.64 EPS for the current fiscal year.

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.