AXQ Capital LP Purchases Shares of 8,973 Dropbox, Inc. (NASDAQ:DBX)

AXQ Capital LP purchased a new stake in Dropbox, Inc. (NASDAQ:DBX) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 8,973 shares of the company’s stock, valued at approximately $270,000.

Several other large investors have also recently bought and sold shares of DBX. Jacobs Levy Equity Management Inc. lifted its holdings in shares of Dropbox by 6.2% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 6,239,493 shares of the company’s stock worth $158,670,000 after acquiring an additional 365,893 shares during the last quarter. Geode Capital Management LLC lifted its holdings in shares of Dropbox by 0.6% during the 3rd quarter. Geode Capital Management LLC now owns 4,366,271 shares of the company’s stock worth $111,368,000 after acquiring an additional 25,893 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of Dropbox by 4.2% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,914,005 shares of the company’s stock worth $87,537,000 after acquiring an additional 117,767 shares during the last quarter. Retirement Systems of Alabama lifted its holdings in shares of Dropbox by 15.2% during the 3rd quarter. Retirement Systems of Alabama now owns 944,033 shares of the company’s stock worth $24,007,000 after acquiring an additional 124,528 shares during the last quarter. Finally, Glenmede Trust Co. NA lifted its holdings in shares of Dropbox by 1.2% during the 3rd quarter. Glenmede Trust Co. NA now owns 751,387 shares of the company’s stock worth $19,108,000 after acquiring an additional 9,078 shares during the last quarter. 94.84% of the stock is owned by institutional investors.

Insider Buying and Selling

In other Dropbox news, insider Eric Cox sold 3,765 shares of the business’s stock in a transaction dated Thursday, February 27th. The shares were sold at an average price of $26.30, for a total value of $99,019.50. Following the transaction, the insider now owns 309,550 shares in the company, valued at approximately $8,141,165. The trade was a 1.20 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Timothy Regan sold 2,500 shares of the business’s stock in a transaction dated Friday, February 7th. The shares were sold at an average price of $32.19, for a total transaction of $80,475.00. Following the completion of the transaction, the chief financial officer now owns 396,264 shares in the company, valued at $12,755,738.16. The trade was a 0.63 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 634,504 shares of company stock worth $18,935,530 in the last 90 days. 28.59% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Separately, Jefferies Financial Group lifted their price objective 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 Up 0.5 %

Shares of NASDAQ:DBX opened at $26.50 on Monday. The stock has a market cap of $8.00 billion, a PE ratio of 18.79, a PEG ratio of 1.70 and a beta of 0.77. The company’s fifty day moving average is $29.36 and its 200 day moving average is $27.97. Dropbox, Inc. has a 52 week low of $20.68 and a 52 week high of $33.33.

Dropbox (NASDAQ:DBX) last issued its earnings results on Thursday, February 20th. The company reported $0.51 EPS for the quarter, missing analysts’ consensus estimates of $0.62 by ($0.11). The business had revenue of $643.60 million during the quarter, compared to analysts’ expectations of $638.61 million. Dropbox had a negative return on equity of 132.63% and a net margin of 17.75%. Sell-side analysts anticipate that Dropbox, Inc. will post 1.64 EPS for the current year.

Dropbox Company 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.