AQR Capital Management LLC Has $99.84 Million Holdings in Dropbox, Inc. (NASDAQ:DBX)

AQR Capital Management LLC boosted its holdings in Dropbox, Inc. (NASDAQ:DBX) by 3.0% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 3,332,516 shares of the company’s stock after buying an additional 97,551 shares during the period. AQR Capital Management LLC’s holdings in Dropbox were worth $99,842,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. EverSource Wealth Advisors LLC increased its holdings in Dropbox by 96.1% in the 4th quarter. EverSource Wealth Advisors LLC now owns 865 shares of the company’s stock valued at $26,000 after buying an additional 424 shares during the period. Avion Wealth lifted its stake in Dropbox by 4,472.7% during the fourth quarter. Avion Wealth now owns 1,006 shares of the company’s stock worth $30,000 after purchasing an additional 984 shares during the period. SBI Securities Co. Ltd. acquired a new stake in Dropbox during the fourth quarter valued at approximately $40,000. Allworth Financial LP grew its stake in shares of Dropbox by 33.5% in the 4th quarter. Allworth Financial LP now owns 1,456 shares of the company’s stock valued at $45,000 after purchasing an additional 365 shares during the period. Finally, Huntington National Bank raised its holdings in shares of Dropbox by 768.9% in the 4th quarter. Huntington National Bank now owns 1,538 shares of the company’s stock worth $46,000 after buying an additional 1,361 shares in the last quarter. Institutional investors own 94.84% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Jefferies Financial Group upped their target price on shares of Dropbox from $27.00 to $30.00 and gave the stock a “hold” rating in a report on Monday, January 6th.

Dropbox Stock Performance

Shares of DBX opened at $28.67 on Wednesday. The stock has a fifty day moving average price of $26.63 and a two-hundred day moving average price of $28.38. The company has a market cap of $8.65 billion, a price-to-earnings ratio of 20.33, a PEG ratio of 1.70 and a beta of 0.75. Dropbox, Inc. has a 52-week low of $20.68 and a 52-week high of $33.33.

Dropbox (NASDAQ:DBX) last posted its quarterly earnings data on Thursday, February 20th. The company reported $0.51 earnings per share for the quarter, missing the consensus estimate of $0.62 by ($0.11). Dropbox had a net margin of 17.75% and a negative return on equity of 132.63%. The company had revenue of $643.60 million during the quarter, compared to analyst estimates of $638.61 million. As a group, research analysts predict that Dropbox, Inc. will post 1.64 EPS for the current fiscal year.

Insider Buying and Selling at Dropbox

In related news, insider Eric Cox sold 3,765 shares of the firm’s stock in a transaction on Thursday, February 27th. The stock was sold at an average price of $26.30, for a total transaction of $99,019.50. Following the sale, the insider now owns 309,550 shares of the company’s stock, valued at approximately $8,141,165. This trade represents a 1.20 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Timothy Regan sold 2,500 shares of the stock in a transaction that occurred on Friday, February 7th. The stock was sold at an average price of $32.19, for a total value of $80,475.00. Following the sale, the chief financial officer now directly owns 396,264 shares of the company’s stock, valued at approximately $12,755,738.16. The trade was a 0.63 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 13,765 shares of company stock valued at $393,695. 28.59% of the stock is currently owned by insiders.

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.