Resona Asset Management Co. Ltd. Takes Position in Dropbox, Inc. (NASDAQ:DBX)

Resona Asset Management Co. Ltd. acquired a new stake in Dropbox, Inc. (NASDAQ:DBX) during the 4th quarter, Holdings Channel.com reports. The firm acquired 13,697 shares of the company’s stock, valued at approximately $411,000.

Other hedge funds have also recently bought and sold shares of the company. HighTower Advisors LLC increased its stake in Dropbox by 68.2% during the 3rd quarter. HighTower Advisors LLC now owns 26,576 shares of the company’s stock worth $683,000 after buying an additional 10,777 shares during the period. Orion Portfolio Solutions LLC purchased a new stake in shares of Dropbox during the third quarter worth $688,000. M&T Bank Corp purchased a new stake in shares of Dropbox during the third quarter worth $229,000. Geode Capital Management LLC raised its stake in shares of Dropbox by 0.6% in the third quarter. Geode Capital Management LLC now owns 4,366,271 shares of the company’s stock valued at $111,368,000 after acquiring an additional 25,893 shares in the last quarter. Finally, Sanctuary Advisors LLC purchased a new position in Dropbox in the third quarter valued at $268,000. Institutional investors and hedge funds own 94.84% of the company’s stock.

Dropbox Price Performance

Shares of Dropbox stock opened at $27.08 on Friday. Dropbox, Inc. has a 52-week low of $20.68 and a 52-week high of $33.33. The company has a market capitalization of $8.17 billion, a P/E ratio of 19.21, a P/E/G ratio of 1.70 and a beta of 0.75. The company has a 50 day moving average of $27.80 and a 200 day moving average of $28.21.

Dropbox (NASDAQ:DBX) last released its quarterly earnings data on Thursday, February 20th. The company reported $0.51 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.62 by ($0.11). The firm had revenue of $643.60 million for 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%. As a group, research analysts anticipate that Dropbox, Inc. will post 1.64 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

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

Insiders Place Their Bets

In other Dropbox news, CFO Timothy Regan sold 2,500 shares of the stock in a transaction that occurred on Friday, March 28th. The shares were sold at an average price of $26.57, for a total value of $66,425.00. Following the transaction, the chief financial officer now directly owns 367,791 shares in the company, valued at $9,772,206.87. This represents a 0.68 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Andrew Houston sold 80,499 shares of the business’s stock in a transaction that occurred on Tuesday, January 21st. The stock was sold at an average price of $30.97, for a total transaction of $2,493,054.03. Following the sale, the chief executive officer now owns 8,266,666 shares of the company’s stock, valued at $256,018,646.02. This represents a 0.96 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 94,264 shares of company stock valued at $2,895,324 in the last ninety days. Insiders own 28.59% of the company’s stock.

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.