Russell Investments Group Ltd. Acquires 100,398 Shares of Dropbox, Inc. $DBX

Russell Investments Group Ltd. raised its stake in Dropbox, Inc. (NASDAQ:DBX) by 4.7% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 2,237,858 shares of the company’s stock after buying an additional 100,398 shares during the period. Russell Investments Group Ltd. owned approximately 0.99% of Dropbox worth $75,519,000 as of its most recent filing with the SEC.

Several other large investors have also modified their holdings of DBX. Elevation Wealth Partners LLC grew its holdings in shares of Dropbox by 63.0% in the 3rd quarter. Elevation Wealth Partners LLC now owns 1,363 shares of the company’s stock worth $46,000 after acquiring an additional 527 shares during the last quarter. EverSource Wealth Advisors LLC lifted its holdings in shares of Dropbox by 68.1% during the first quarter. EverSource Wealth Advisors LLC now owns 2,052 shares of the company’s stock valued at $47,000 after purchasing an additional 831 shares during the last quarter. Farther Finance Advisors LLC lifted its holdings in shares of Dropbox by 166.5% during the third quarter. Farther Finance Advisors LLC now owns 2,617 shares of the company’s stock valued at $89,000 after purchasing an additional 1,635 shares during the last quarter. Signaturefd LLC boosted its position in shares of Dropbox by 103.4% in the 3rd quarter. Signaturefd LLC now owns 5,616 shares of the company’s stock valued at $190,000 after purchasing an additional 2,855 shares during the period. Finally, Ethic Inc. acquired a new position in shares of Dropbox in the 3rd quarter valued at $211,000. 94.84% of the stock is owned by institutional investors.

Insider Transactions at Dropbox

In other Dropbox news, CEO Ashraf Alkarmi sold 28,800 shares of the firm’s stock in a transaction dated Friday, September 11th. The stock was sold at an average price of $35.54, for a total transaction of $1,023,552.00. Following the completion of the sale, the chief executive officer directly owned 1,004,081 shares in the company, valued at approximately $35,685,038.74. This trade represents a 2.79% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider William Yoon sold 12,382 shares of Dropbox stock in a transaction dated Friday, September 4th. The shares were sold at an average price of $34.78, for a total value of $430,645.96. Following the transaction, the insider directly owned 366,693 shares in the company, valued at approximately $12,753,582.54. This trade represents a 3.27% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders sold 1,331,268 shares of company stock worth $46,553,783. 35.48% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the company. Weiss Ratings raised Dropbox from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Tuesday, November 3rd. William Blair upgraded Dropbox from an “underperform” rating to a “market perform” rating in a report on Friday, August 7th. UBS Group upped their price objective on shares of Dropbox from $23.00 to $26.00 and gave the company a “sell” rating in a research note on Friday, November 6th. Citigroup cut shares of Dropbox from a “neutral” rating to a “sell” rating and decreased their target price for the stock from $33.00 to $29.00 in a report on Thursday, September 24th. Finally, Zacks Research raised shares of Dropbox from a “strong sell” rating to a “hold” rating in a research report on Tuesday, October 6th. Two investment analysts have rated the stock with a Buy rating, four have given a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat, Dropbox presently has a consensus rating of “Reduce” and a consensus price target of $35.60.

Dropbox Stock Up 0.1%

Shares of DBX traded up $0.02 during mid-day trading on Friday, reaching $33.53. The company’s stock had a trading volume of 2,914,680 shares, compared to its average volume of 4,970,619. The business has a fifty day moving average of $35.09 and a 200 day moving average of $29.42. The company has a market cap of $7.50 billion, a price-to-earnings ratio of 18.12, a price-to-earnings-growth ratio of 3.01 and a beta of 0.62. Dropbox, Inc. has a 1 year low of $21.69 and a 1 year high of $38.22.

Dropbox (NASDAQ:DBX) last issued its earnings results on Thursday, November 5th. The company reported $0.88 EPS for the quarter, topping the consensus estimate of $0.73 by $0.15. Dropbox had a negative return on equity of 22.35% and a net margin of 17.17%. The business had revenue of $637.30 million during the quarter, compared to analysts’ expectations of $629.59 million. During the same quarter last year, the firm posted $0.74 earnings per share. Dropbox’s revenue was up .5% compared to the same quarter last year. On average, analysts predict that Dropbox, Inc. will post 1.94 earnings per share for the current year.

Dropbox Company Profile

Dropbox, Inc. is a cloud software company that helps individuals and organizations store, access, sync and share files across devices. Its core Dropbox service also supports collaboration through shared folders, comments and tools for managing digital content. The company offers products for a range of work and collaboration needs, including Dropbox Sign for electronic signatures and DocSend for sharing and tracking documents. Dropbox has also developed tools for reviewing creative content and organizing work, alongside integrations with other business applications.