Massachusetts Financial Services Co. MA Raises Stock Position in Dropbox, Inc. (NASDAQ:DBX)

Massachusetts Financial Services Co. MA lifted its position in Dropbox, Inc. (NASDAQ:DBX) by 20.8% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 743,945 shares of the company’s stock after purchasing an additional 128,066 shares during the period. Massachusetts Financial Services Co. MA’s holdings in Dropbox were worth $22,348,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Arrowstreet Capital Limited Partnership lifted its holdings in shares of Dropbox by 38.1% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 5,224,864 shares of the company’s stock worth $156,955,000 after buying an additional 1,440,887 shares during the period. KLP Kapitalforvaltning AS bought a new stake in shares of Dropbox in the fourth quarter valued at about $25,375,000. Norges Bank purchased a new stake in Dropbox in the fourth quarter worth about $20,482,000. Trexquant Investment LP bought a new position in Dropbox during the 4th quarter worth about $7,041,000. Finally, WINTON GROUP Ltd purchased a new position in Dropbox during the 4th quarter valued at about $5,853,000. Institutional investors own 94.84% of the company’s stock.

Dropbox Trading Down 5.1 %

DBX opened at $25.45 on Monday. The firm has a market cap of $7.68 billion, a price-to-earnings ratio of 18.05, a PEG ratio of 1.70 and a beta of 0.75. Dropbox, Inc. has a 12 month low of $20.68 and a 12 month high of $33.33. The stock has a fifty day moving average price of $28.59 and a 200-day moving average price of $28.17.

Dropbox (NASDAQ:DBX) last announced 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). Dropbox had a negative return on equity of 132.63% and a net margin of 17.75%. The firm had revenue of $643.60 million during the quarter, compared to the consensus estimate of $638.61 million. On average, equities research analysts forecast that Dropbox, Inc. will post 1.64 EPS for the current year.

Insider Buying and Selling

In other news, CFO Timothy Regan sold 2,500 shares of the business’s stock in a transaction dated Wednesday, January 15th. The stock was sold at an average price of $30.37, for a total transaction of $75,925.00. Following the sale, the chief financial officer now owns 401,264 shares in the company, valued at approximately $12,186,387.68. The trade was a 0.62 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Eric Cox sold 3,765 shares of the stock in a transaction that occurred on Thursday, February 27th. The shares were sold at an average price of $26.30, for a total transaction of $99,019.50. Following the completion of the transaction, the insider now directly owns 309,550 shares of the company’s stock, valued at $8,141,165. The trade was a 1.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 94,264 shares of company stock worth $2,895,324 in the last 90 days. 28.59% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

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

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.