Dropbox, Inc. (NASDAQ:DBX) Shares Bought by Bridgewater Associates LP

Bridgewater Associates LP boosted its stake in shares of Dropbox, Inc. (NASDAQ:DBX) by 39.7% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 981,914 shares of the company’s stock after purchasing an additional 278,902 shares during the period. Bridgewater Associates LP owned approximately 0.32% of Dropbox worth $29,497,000 at the end of the most recent reporting period.

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

Dropbox Price Performance

NASDAQ:DBX opened at $26.93 on Wednesday. The company has a 50 day moving average price of $27.57 and a 200-day moving average price of $28.23. Dropbox, Inc. has a 1-year low of $20.68 and a 1-year high of $33.33. The firm has a market cap of $8.13 billion, a price-to-earnings ratio of 19.10, a price-to-earnings-growth ratio of 1.70 and a beta of 0.75.

Dropbox (NASDAQ:DBX) last released its quarterly earnings data on Thursday, February 20th. The company reported $0.51 earnings per share 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 firm had revenue of $643.60 million during the quarter, compared to analysts’ expectations of $638.61 million. On average, sell-side analysts anticipate that Dropbox, Inc. will post 1.64 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

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

Insiders Place Their Bets

In other news, CEO Andrew Houston sold 80,499 shares of Dropbox stock in a transaction dated Tuesday, January 21st. The shares were sold at an average price of $30.97, for a total value of $2,493,054.03. Following the sale, the chief executive officer now owns 8,266,666 shares in the company, valued at $256,018,646.02. This trade represents a 0.96 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Timothy Regan sold 2,500 shares of the company’s stock in a transaction dated Friday, March 28th. The stock was sold at an average price of $26.57, for a total transaction of $66,425.00. Following the transaction, the chief financial officer now owns 367,791 shares of the company’s stock, valued at approximately $9,772,206.87. This trade represents a 0.68 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 91,764 shares of company stock worth $2,819,399. 28.59% of the stock is owned by corporate insiders.

About Dropbox

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.