Caisse Des Depots ET Consignations Acquires New Position in Dropbox, Inc. (NASDAQ:DBX)

Caisse Des Depots ET Consignations bought a new position in shares of Dropbox, Inc. (NASDAQ:DBX) during the 4th quarter, Holdings Channel.com reports. The firm bought 120,102 shares of the company’s stock, valued at approximately $3,608,000.

A number of other hedge funds have also recently added to or reduced their stakes in the business. Elo Mutual Pension Insurance Co purchased a new stake in Dropbox in the fourth quarter valued at approximately $403,000. WINTON GROUP Ltd acquired a new position in shares of Dropbox in the 4th quarter valued at $5,853,000. Murphy & Mullick Capital Management Corp purchased a new stake in shares of Dropbox during the 4th quarter valued at $143,000. Mitsubishi UFJ Trust & Banking Corp increased its holdings in shares of Dropbox by 13.5% during the 4th quarter. Mitsubishi UFJ Trust & Banking Corp now owns 901,459 shares of the company’s stock worth $27,080,000 after buying an additional 107,460 shares during the last quarter. Finally, Prudential Financial Inc. raised its position in shares of Dropbox by 53.9% in the 4th quarter. Prudential Financial Inc. now owns 99,984 shares of the company’s stock worth $3,004,000 after buying an additional 35,036 shares during the period. 94.84% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Dropbox

In related news, insider Eric Cox sold 3,765 shares of the company’s stock in a transaction that occurred on Thursday, February 27th. The shares were sold at an average price of $26.30, for a total value of $99,019.50. Following the completion of the sale, the insider now owns 309,550 shares in the company, valued at approximately $8,141,165. This represents a 1.20 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Andrew Houston sold 500,323 shares of the firm’s stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $29.65, for a total transaction of $14,834,576.95. Following the completion of the transaction, the chief executive officer now directly owns 8,266,666 shares of the company’s stock, valued at $245,106,646.90. This represents a 5.71 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 634,504 shares of company stock valued at $18,935,530. 28.59% of the stock is owned by insiders.

Dropbox Price Performance

Dropbox stock opened at $26.83 on Thursday. The company has a market cap of $8.10 billion, a PE ratio of 19.03, a P/E/G ratio of 1.70 and a beta of 0.77. Dropbox, Inc. has a 12 month low of $20.68 and a 12 month high of $33.33. The company has a fifty day moving average price of $29.18 and a two-hundred day moving average price of $28.02.

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

Wall Street Analyst Weigh In

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

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.