Dropbox, Inc. (NASDAQ:DBX) Shares Purchased by Handelsbanken Fonder AB

Handelsbanken Fonder AB raised its position in shares of Dropbox, Inc. (NASDAQ:DBX) by 11.7% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 43,900 shares of the company’s stock after purchasing an additional 4,600 shares during the period. Handelsbanken Fonder AB’s holdings in Dropbox were worth $1,294,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of DBX. Contravisory Investment Management Inc. acquired a new position in Dropbox during the 4th quarter valued at about $26,000. Fifth Third Bancorp lifted its stake in shares of Dropbox by 424.2% in the 3rd quarter. Fifth Third Bancorp now owns 1,085 shares of the company’s stock worth $30,000 after acquiring an additional 878 shares during the period. Cary Street Partners Investment Advisory LLC lifted its stake in shares of Dropbox by 29,175.0% in the 3rd quarter. Cary Street Partners Investment Advisory LLC now owns 1,171 shares of the company’s stock worth $32,000 after acquiring an additional 1,167 shares during the period. Kingswood Wealth Advisors LLC acquired a new stake in shares of Dropbox in the 3rd quarter worth approximately $62,000. Finally, Shell Asset Management Co. lifted its stake in shares of Dropbox by 51.4% in the 3rd quarter. Shell Asset Management Co. now owns 2,643 shares of the company’s stock worth $72,000 after acquiring an additional 897 shares during the period. 94.84% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the stock. Citigroup reduced their price target on shares of Dropbox from $31.00 to $27.00 and set a “neutral” rating for the company in a research note on Friday, March 22nd. KeyCorp upped their price target on shares of Dropbox from $32.00 to $37.00 and gave the stock an “overweight” rating in a research note on Friday, January 19th. The Goldman Sachs Group lowered shares of Dropbox from a “neutral” rating to a “sell” rating and reduced their price target for the stock from $26.00 to $24.00 in a research note on Friday, February 16th. JMP Securities downgraded shares of Dropbox from an “outperform” rating to a “market perform” rating in a report on Friday, February 16th. Finally, JPMorgan Chase & Co. downgraded shares of Dropbox from an “overweight” rating to a “neutral” rating and dropped their target price for the stock from $33.00 to $30.00 in a report on Friday, February 16th. Three research analysts have rated the stock with a sell rating, four have issued a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $29.78.

Dropbox Price Performance

DBX stock opened at $24.15 on Friday. Dropbox, Inc. has a 52-week low of $19.55 and a 52-week high of $33.43. The company’s 50 day simple moving average is $23.81 and its 200-day simple moving average is $27.30. The firm has a market capitalization of $8.31 billion, a P/E ratio of 18.30, a P/E/G ratio of 2.69 and a beta of 0.71.

Dropbox (NASDAQ:DBX) last released its quarterly earnings results on Thursday, February 15th. The company reported $0.25 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.26 by ($0.01). Dropbox had a net margin of 18.13% and a negative return on equity of 120.82%. The firm had revenue of $635.00 million for the quarter, compared to analyst estimates of $630.77 million. Sell-side analysts predict that Dropbox, Inc. will post 1.14 EPS for the current fiscal year.

Insider Activity

In other news, CFO Timothy Regan sold 3,000 shares of the business’s stock in a transaction that occurred on Tuesday, January 30th. The shares were sold at an average price of $32.50, for a total transaction of $97,500.00. Following the sale, the chief financial officer now owns 434,761 shares in the company, valued at $14,129,732.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Dropbox news, CFO Timothy Regan sold 3,000 shares of the company’s stock in a transaction that occurred on Tuesday, January 30th. The shares were sold at an average price of $32.50, for a total value of $97,500.00. Following the transaction, the chief financial officer now owns 434,761 shares in the company, valued at approximately $14,129,732.50. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Bart Volkmer sold 7,039 shares of the company’s stock in a transaction that occurred on Friday, March 15th. The shares were sold at an average price of $24.02, for a total transaction of $169,076.78. Following the completion of the transaction, the insider now owns 233,988 shares in the company, valued at approximately $5,620,391.76. The disclosure for this sale can be found here. Insiders have sold 189,721 shares of company stock worth $4,548,575 over the last 90 days. 26.40% of the stock is owned by company 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.