Promethos Capital LLC Purchases New Stake in Dropbox, Inc. (NASDAQ:DBX)

Promethos Capital LLC acquired a new position in Dropbox, Inc. (NASDAQ:DBX) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 3,340 shares of the company’s stock, valued at approximately $100,000.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. EverSource Wealth Advisors LLC increased its stake in Dropbox by 96.1% in the 4th quarter. EverSource Wealth Advisors LLC now owns 865 shares of the company’s stock valued at $26,000 after purchasing an additional 424 shares in the last quarter. Avion Wealth raised its stake in shares of Dropbox by 4,472.7% during the 4th quarter. Avion Wealth now owns 1,006 shares of the company’s stock worth $30,000 after buying an additional 984 shares during the last quarter. SBI Securities Co. Ltd. acquired a new stake in Dropbox in the 4th quarter valued at about $40,000. Allworth Financial LP raised its position in Dropbox by 33.5% during the fourth quarter. Allworth Financial LP now owns 1,456 shares of the company’s stock worth $45,000 after acquiring an additional 365 shares during the last quarter. Finally, Huntington National Bank lifted its holdings in shares of Dropbox by 768.9% in the fourth quarter. Huntington National Bank now owns 1,538 shares of the company’s stock valued at $46,000 after purchasing an additional 1,361 shares in the last quarter. Institutional investors and hedge funds own 94.84% of the company’s stock.

Dropbox Stock Performance

Shares of NASDAQ DBX opened at $27.08 on Monday. The firm has a market cap of $8.17 billion, a P/E ratio of 19.21, 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. The firm’s 50 day moving average price is $27.80 and its 200 day moving average price is $28.23.

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

Insider Buying and Selling

In other news, CEO Andrew Houston sold 80,499 shares of Dropbox stock in a transaction dated Tuesday, January 21st. The stock was sold at an average price of $30.97, for a total value of $2,493,054.03. Following the transaction, the chief executive officer now directly owns 8,266,666 shares of the company’s stock, valued at $256,018,646.02. The trade was a 0.96 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CFO Timothy Regan sold 2,500 shares of the firm’s stock in a transaction that occurred on Friday, March 28th. The shares were sold at an average price of $26.57, for a total transaction of $66,425.00. Following the completion of the transaction, the chief financial officer now owns 367,791 shares in the company, valued at $9,772,206.87. The trade was a 0.68 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 94,264 shares of company stock valued at $2,895,324. Insiders own 28.59% of the company’s stock.

Analysts Set New Price Targets

Separately, Jefferies Financial Group increased their target price on Dropbox from $27.00 to $30.00 and gave the company a “hold” rating in a report 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.