Dropbox, Inc. $DBX Shares Bought by Bokf Na

Bokf Na grew its stake in Dropbox, Inc. (NASDAQ:DBX) by 48.8% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 163,896 shares of the company’s stock after purchasing an additional 53,741 shares during the period. Bokf Na’s holdings in Dropbox were worth $4,951,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of DBX. LSV Asset Management raised its stake in Dropbox by 38.1% during the 3rd quarter. LSV Asset Management now owns 11,613,642 shares of the company’s stock worth $350,848,000 after acquiring an additional 3,205,140 shares in the last quarter. Intech Investment Management LLC boosted its stake in Dropbox by 117.3% in the third quarter. Intech Investment Management LLC now owns 407,958 shares of the company’s stock valued at $12,324,000 after acquiring an additional 220,176 shares in the last quarter. Kestra Investment Management LLC purchased a new position in shares of Dropbox during the second quarter worth about $682,000. CenterBook Partners LP purchased a new position in shares of Dropbox during the second quarter worth about $2,368,000. Finally, Norges Bank acquired a new stake in shares of Dropbox during the second quarter worth about $51,307,000. 94.84% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts have recently weighed in on the company. JPMorgan Chase & Co. reduced their target price on Dropbox from $29.00 to $25.00 and set a “neutral” rating for the company in a report on Friday, February 20th. Royal Bank Of Canada cut their price target on Dropbox from $35.00 to $30.00 and set an “outperform” rating on the stock in a research report on Friday, February 20th. Wall Street Zen cut Dropbox from a “buy” rating to a “hold” rating in a research note on Friday, January 23rd. Weiss Ratings reissued a “hold (c+)” rating on shares of Dropbox in a report on Wednesday, January 21st. Finally, UBS Group lowered their target price on shares of Dropbox from $27.00 to $23.00 and set a “sell” rating on the stock in a research report on Friday, February 20th. One equities research analyst has rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, Dropbox presently has a consensus rating of “Hold” and a consensus target price of $27.50.

Insider Buying and Selling

In other Dropbox news, CAO Sarah Elizabeth Schubach sold 1,415 shares of the business’s stock in a transaction on Monday, March 2nd. The shares were sold at an average price of $24.76, for a total value of $35,035.40. Following the transaction, the chief accounting officer directly owned 84,904 shares of the company’s stock, valued at approximately $2,102,223.04. The trade was a 1.64% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Ashraf Alkarmi sold 12,472 shares of the company’s stock in a transaction on Tuesday, March 3rd. The stock was sold at an average price of $26.00, for a total transaction of $324,272.00. Following the transaction, the insider owned 414,661 shares of the company’s stock, valued at approximately $10,781,186. The trade was a 2.92% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 451,613 shares of company stock worth $11,737,127 over the last three months. 29.95% of the stock is owned by company insiders.

Dropbox Stock Up 0.2%

NASDAQ DBX opened at $25.91 on Friday. The firm has a market cap of $6.25 billion, a P/E ratio of 13.93, a P/E/G ratio of 1.82 and a beta of 0.63. Dropbox, Inc. has a 52-week low of $23.63 and a 52-week high of $32.40. The business’s 50-day moving average price is $25.76 and its 200 day moving average price is $28.16.

Dropbox (NASDAQ:DBX) last posted its quarterly earnings data on Thursday, February 19th. The company reported $0.68 EPS for the quarter, beating the consensus estimate of $0.66 by $0.02. Dropbox had a negative return on equity of 37.47% and a net margin of 20.17%.The firm had revenue of $636.20 million during the quarter, compared to the consensus estimate of $627.83 million. During the same period in the prior year, the business earned $0.73 EPS. The firm’s revenue was down 1.1% compared to the same quarter last year. As a group, analysts anticipate that Dropbox, Inc. will post 1.64 earnings per share for the current year.

About Dropbox

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.