Dropbox, Inc. (NASDAQ:DBX) Stake Lifted by Donald L. Hagan LLC

Donald L. Hagan LLC increased its position in shares of Dropbox, Inc. (NASDAQ:DBX) by 8.6% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 13,594 shares of the company’s stock after purchasing an additional 1,071 shares during the period. Donald L. Hagan LLC’s holdings in Dropbox were worth $401,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Contravisory Investment Management Inc. bought a new stake in shares of Dropbox in the 4th quarter worth $26,000. Penserra Capital Management LLC acquired a new position in shares of Dropbox in the 2nd quarter worth approximately $29,000. Huntington National Bank grew its stake in shares of Dropbox by 2,160.0% in the 2nd quarter. Huntington National Bank now owns 1,130 shares of the company’s stock worth $30,000 after purchasing an additional 1,080 shares during the last quarter. Fifth Third Bancorp lifted its stake in Dropbox by 424.2% during the third quarter. Fifth Third Bancorp now owns 1,085 shares of the company’s stock valued at $30,000 after purchasing an additional 878 shares during the last quarter. Finally, Cary Street Partners Investment Advisory LLC lifted its stake in Dropbox by 29,175.0% during the third quarter. Cary Street Partners Investment Advisory LLC now owns 1,171 shares of the company’s stock valued at $32,000 after purchasing an additional 1,167 shares during the last quarter. Institutional investors own 94.84% of the company’s stock.

Insider Buying and Selling at Dropbox

In related news, CFO Timothy Regan sold 3,000 shares of Dropbox stock in a transaction dated Tuesday, January 30th. The shares were sold at an average price of $32.50, for a total transaction of $97,500.00. Following the completion of the sale, the chief financial officer now owns 434,761 shares of the company’s stock, valued at approximately $14,129,732.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other news, CFO Timothy Regan sold 3,000 shares of Dropbox stock in a transaction on Tuesday, January 30th. The shares were sold at an average price of $32.50, for a total transaction of $97,500.00. Following the transaction, the chief financial officer now owns 434,761 shares in the company, valued at $14,129,732.50. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Andrew Houston sold 164,000 shares of the stock in a transaction on Tuesday, March 5th. The stock was sold at an average price of $23.86, for a total transaction of $3,913,040.00. Following the sale, the chief executive officer now owns 8,266,666 shares of the company’s stock, valued at $197,242,650.76. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 180,039 shares of company stock valued at $4,324,757. Corporate insiders own 25.78% of the company’s stock.

Dropbox Stock Performance

Shares of NASDAQ DBX traded down $0.14 during trading on Friday, reaching $24.30. The company had a trading volume of 3,309,588 shares, compared to its average volume of 4,660,514. The business’s 50 day moving average price is $27.29 and its 200-day moving average price is $27.82. Dropbox, Inc. has a 52 week low of $19.55 and a 52 week high of $33.43. The stock has a market cap of $8.36 billion, a PE ratio of 18.41, a PEG ratio of 2.75 and a beta of 0.71.

Dropbox (NASDAQ:DBX) last posted its quarterly earnings results on Thursday, February 15th. The company reported $0.25 earnings per share for the quarter, missing analysts’ consensus estimates of $0.26 by ($0.01). Dropbox had a negative return on equity of 120.82% and a net margin of 18.13%. The business had revenue of $635.00 million for the quarter, compared to the consensus estimate of $630.77 million. Equities analysts anticipate that Dropbox, Inc. will post 1.14 earnings per share for the current year.

Wall Street Analysts Forecast Growth

DBX has been the topic of a number of recent research reports. KeyCorp lifted their target price on Dropbox from $32.00 to $37.00 and gave the stock an “overweight” rating in a report on Friday, January 19th. Bank of America downgraded Dropbox from a “buy” rating to an “underperform” rating and cut their price objective for the stock from $34.00 to $28.00 in a report on Friday, February 16th. JMP Securities downgraded Dropbox from an “outperform” rating to a “market perform” rating in a report on Friday, February 16th. UBS Group started coverage on Dropbox in a research report on Friday, December 15th. They set a “buy” rating and a $36.00 price target on the stock. Finally, JPMorgan Chase & Co. downgraded Dropbox from an “overweight” rating to a “neutral” rating and dropped their target price for the company from $33.00 to $30.00 in a report on Friday, February 16th. Three research analysts have rated the stock with a sell rating, four have given a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $29.78.

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.