Dropbox, Inc. (NASDAQ:DBX) Position Raised by Russell Investments Group Ltd.

Russell Investments Group Ltd. lifted its position in shares of Dropbox, Inc. (NASDAQ:DBX) by 5.0% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 2,410,194 shares of the company’s stock after acquiring an additional 114,646 shares during the period. Russell Investments Group Ltd. owned 0.78% of Dropbox worth $72,526,000 as of its most recent filing with the SEC.

Other large investors have also modified their holdings of the company. Holocene Advisors LP increased its stake in shares of Dropbox by 478.3% in the third quarter. Holocene Advisors LP now owns 92,160 shares of the company’s stock valued at $2,344,000 after purchasing an additional 76,225 shares during the period. HighTower Advisors LLC increased its position in Dropbox by 68.2% in the 3rd quarter. HighTower Advisors LLC now owns 26,576 shares of the company’s stock valued at $683,000 after acquiring an additional 10,777 shares during the period. Quarry LP raised its stake in Dropbox by 23.4% during the 3rd quarter. Quarry LP now owns 2,424 shares of the company’s stock valued at $62,000 after acquiring an additional 459 shares in the last quarter. Weiss Asset Management LP acquired a new position in Dropbox during the 3rd quarter worth $1,006,000. Finally, Orion Portfolio Solutions LLC bought a new position in shares of Dropbox in the third quarter worth $688,000. Institutional investors and hedge funds own 94.84% of the company’s stock.

Insider Buying and Selling

In other news, CFO Timothy Regan sold 2,500 shares of the business’s stock in a transaction on Friday, March 28th. The stock was sold at an average price of $26.57, for a total transaction of $66,425.00. Following the sale, the chief financial officer now directly owns 367,791 shares of the company’s stock, valued at $9,772,206.87. The trade was a 0.68 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Eric Cox sold 3,765 shares of Dropbox stock in a transaction dated Thursday, February 27th. The stock was sold at an average price of $26.30, for a total value of $99,019.50. Following the completion of the transaction, the insider now directly owns 309,550 shares in the company, valued at $8,141,165. This represents a 1.20 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 124,181 shares of company stock worth $3,794,928 in the last ninety days. 28.59% of the stock is currently owned by corporate insiders.

Dropbox Price Performance

DBX opened at $25.45 on Friday. The business has a 50 day moving average price of $28.59 and a two-hundred day moving average price of $28.14. The company has a market capitalization of $7.68 billion, a price-to-earnings ratio of 18.05, a price-to-earnings-growth ratio of 1.70 and a beta of 0.75. Dropbox, Inc. has a 1-year low of $20.68 and a 1-year high of $33.33.

Dropbox (NASDAQ:DBX) last announced its quarterly earnings data 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). Dropbox had a net margin of 17.75% and a negative return on equity of 132.63%. The firm had revenue of $643.60 million during the quarter, compared to analyst estimates of $638.61 million. Equities analysts expect that Dropbox, Inc. will post 1.64 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Separately, Jefferies Financial Group lifted their price objective 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 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.