LSV Asset Management Has $326.25 Million Stock Holdings in Dropbox, Inc. $DBX

LSV Asset Management lifted its holdings in Dropbox, Inc. (NASDAQ:DBX) by 1.1% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 11,735,641 shares of the company’s stock after purchasing an additional 121,999 shares during the quarter. LSV Asset Management’s holdings in Dropbox were worth $326,251,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the business. Arbejdsmarkedets Tillaegspension bought a new stake in Dropbox in the 4th quarter valued at approximately $22,050,000. Allianz Asset Management GmbH lifted its stake in Dropbox by 47.8% in the 3rd quarter. Allianz Asset Management GmbH now owns 2,123,932 shares of the company’s stock valued at $64,164,000 after acquiring an additional 686,577 shares in the last quarter. Northern Trust Corp lifted its stake in Dropbox by 29.1% in the 3rd quarter. Northern Trust Corp now owns 2,488,077 shares of the company’s stock valued at $75,165,000 after acquiring an additional 560,694 shares in the last quarter. Thrivent Financial for Lutherans lifted its stake in Dropbox by 1,067.7% in the 3rd quarter. Thrivent Financial for Lutherans now owns 539,470 shares of the company’s stock valued at $16,298,000 after acquiring an additional 493,271 shares in the last quarter. Finally, Robeco Institutional Asset Management B.V. lifted its stake in Dropbox by 22.5% in the 4th quarter. Robeco Institutional Asset Management B.V. now owns 2,518,534 shares of the company’s stock valued at $70,015,000 after acquiring an additional 463,258 shares in the last quarter. 94.84% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Dropbox

In other news, CEO Andrew Houston sold 30,332 shares of the company’s stock in a transaction that occurred on Monday, May 18th. The stock was sold at an average price of $27.50, for a total transaction of $834,130.00. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Andrew William Moore sold 8,443 shares of the stock in a transaction on Monday, May 18th. The shares were sold at an average price of $27.57, for a total value of $232,773.51. Following the completion of the sale, the director owned 4,737 shares in the company, valued at approximately $130,599.09. This trade represents a 64.06% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders have sold 346,569 shares of company stock worth $8,610,488. Insiders own 35.48% of the company’s stock.

Dropbox Stock Up 0.7%

Shares of Dropbox stock opened at $27.43 on Friday. Dropbox, Inc. has a 12-month low of $21.69 and a 12-month high of $32.40. The stock has a market cap of $6.40 billion, a P/E ratio of 14.99, a P/E/G ratio of 3.07 and a beta of 0.64. The business’s 50 day moving average is $24.63 and its 200-day moving average is $26.39.

Dropbox (NASDAQ:DBX) last announced its quarterly earnings data on Thursday, May 7th. The company reported $0.76 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.71 by $0.05. Dropbox had a negative return on equity of 30.01% and a net margin of 18.71%.The company had revenue of $629.50 million for the quarter, compared to analysts’ expectations of $620.56 million. During the same quarter in the prior year, the business posted $0.70 EPS. The business’s revenue was up .8% compared to the same quarter last year. On average, sell-side analysts expect that Dropbox, Inc. will post 2.03 EPS for the current year.

Wall Street Analyst Weigh In

Several research firms have commented on DBX. Citigroup boosted their target price on Dropbox from $27.00 to $28.00 and gave the company a “neutral” rating in a research note on Monday, May 11th. Weiss Ratings restated a “hold (c)” rating on shares of Dropbox in a research note on Monday, May 4th. Wall Street Zen upgraded Dropbox from a “hold” rating to a “buy” rating in a research note on Saturday, May 16th. Royal Bank Of Canada boosted their target price on Dropbox from $30.00 to $32.00 and gave the company an “outperform” rating in a research note on Friday, May 8th. Finally, William Blair restated an “underperform” rating on shares of Dropbox in a research note on Monday, March 23rd. One equities research analyst has rated the stock with a Buy rating, three have given a Hold rating and two have issued a Sell rating to the company. According to MarketBeat.com, Dropbox presently has an average rating of “Reduce” and a consensus price target of $27.00.

Dropbox Company Profile

Dropbox, Inc (NASDAQ: DBX) is a leading provider of cloud-based file storage, collaboration, and productivity tools. Founded in 2007 and headquartered in San Francisco, California, the company offers a suite of services designed to help individuals and organizations securely store, share, and manage digital content. Dropbox has grown from a simple file-syncing application into an integrated collaboration platform used by millions of customers around the globe.

At its core, Dropbox provides cloud storage plans tailored for consumers and businesses.