LSV Asset Management Boosts Stake in Dropbox, Inc. (NASDAQ:DBX)

LSV Asset Management raised its position in Dropbox, Inc. (NASDAQ:DBX) by 119.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,305,730 shares of the company’s stock after purchasing an additional 1,799,030 shares during the quarter. LSV Asset Management owned 0.96% of Dropbox worth $97,453,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. GAMMA Investing LLC purchased a new stake in Dropbox during the 4th quarter worth approximately $25,000. Contravisory Investment Management Inc. purchased a new stake in Dropbox during the 4th quarter worth about $26,000. Fifth Third Bancorp boosted its stake in shares of Dropbox by 424.2% in the 3rd quarter. Fifth Third Bancorp now owns 1,085 shares of the company’s stock valued at $30,000 after buying an additional 878 shares during the period. Cary Street Partners Investment Advisory LLC grew its position in shares of 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 worth $32,000 after buying an additional 1,167 shares in the last quarter. Finally, Kingswood Wealth Advisors LLC purchased a new stake in shares of Dropbox during the third quarter worth approximately $62,000. 94.84% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Dropbox

In other news, CFO Timothy Regan sold 3,000 shares of Dropbox stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $24.02, for a total value of $72,060.00. Following the sale, the chief financial officer now owns 403,720 shares of the company’s stock, valued at $9,697,354.40. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other Dropbox news, CEO Andrew Houston sold 164,000 shares of the company’s stock in a transaction dated Tuesday, March 5th. The shares were sold at an average price of $23.86, for a total transaction of $3,913,040.00. Following the transaction, the chief executive officer now directly owns 8,266,666 shares in the company, valued at $197,242,650.76. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Timothy Regan sold 3,000 shares of the business’s stock in a transaction that occurred on Friday, March 15th. The stock was sold at an average price of $24.02, for a total value of $72,060.00. Following the sale, the chief financial officer now directly owns 403,720 shares in the company, valued at approximately $9,697,354.40. The disclosure for this sale can be found here. Insiders sold 271,721 shares of company stock worth $6,443,955 over the last 90 days. 26.40% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several research firms have commented on DBX. JPMorgan Chase & Co. cut shares of Dropbox from an “overweight” rating to a “neutral” rating and lowered their price target for the stock from $33.00 to $30.00 in a report on Friday, February 16th. The Goldman Sachs Group lowered Dropbox from a “neutral” rating to a “sell” rating and dropped their target price for the company from $26.00 to $24.00 in a report on Friday, February 16th. Bank of America downgraded Dropbox from a “buy” rating to an “underperform” rating and decreased their price target for the stock from $34.00 to $28.00 in a report on Friday, February 16th. Citigroup cut their target price on Dropbox from $31.00 to $27.00 and set a “neutral” rating on the stock in a research report on Friday, March 22nd. Finally, JMP Securities cut Dropbox from an “outperform” rating to a “market perform” rating in a research note on Friday, February 16th. Three investment analysts have rated the stock with a sell rating, four have issued a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, Dropbox presently has an average rating of “Hold” and a consensus target price of $29.78.

Dropbox Price Performance

Shares of DBX traded down $0.22 during mid-day trading on Friday, reaching $23.37. 5,040,096 shares of the company’s stock were exchanged, compared to its average volume of 2,918,350. The business’s fifty day simple moving average is $23.76 and its 200-day simple moving average is $27.15. Dropbox, Inc. has a 52-week low of $19.55 and a 52-week high of $33.43. The stock has a market capitalization of $8.04 billion, a PE ratio of 17.70, a price-to-earnings-growth ratio of 2.65 and a beta of 0.70.

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

Dropbox 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.