Level Four Advisory Services LLC grew its position in Dropbox, Inc. (NASDAQ:DBX – Free Report) by 1.5% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 151,630 shares of the company’s stock after purchasing an additional 2,237 shares during the period. Level Four Advisory Services LLC’s holdings in Dropbox were worth $4,044,000 at the end of the most recent reporting period.
Several other hedge funds also recently bought and sold shares of DBX. UBS Group AG raised its holdings in Dropbox by 378.5% in the first quarter. UBS Group AG now owns 5,063,268 shares of the company’s stock worth $109,468,000 after purchasing an additional 4,005,004 shares during the period. Baupost Group LLC MA raised its holdings in Dropbox by 30.6% in the first quarter. Baupost Group LLC MA now owns 10,571,046 shares of the company’s stock worth $245,777,000 after purchasing an additional 2,476,021 shares during the period. Arrowstreet Capital Limited Partnership increased its position in shares of Dropbox by 959.6% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 1,630,512 shares of the company’s stock worth $36,491,000 after acquiring an additional 1,476,635 shares in the last quarter. AQR Capital Management LLC increased its position in shares of Dropbox by 102.3% during the first quarter. AQR Capital Management LLC now owns 2,556,821 shares of the company’s stock worth $54,230,000 after acquiring an additional 1,292,761 shares in the last quarter. Finally, Caisse DE Depot ET Placement DU Quebec increased its position in shares of Dropbox by 179.7% during the first quarter. Caisse DE Depot ET Placement DU Quebec now owns 1,745,670 shares of the company’s stock worth $37,741,000 after acquiring an additional 1,121,458 shares in the last quarter. 70.28% of the stock is currently owned by institutional investors and hedge funds.
Insider Activity
In other news, CEO Andrew Houston sold 162,500 shares of the firm’s stock in a transaction dated Wednesday, July 5th. The shares were sold at an average price of $26.51, for a total transaction of $4,307,875.00. Following the completion of the sale, the chief executive officer now owns 8,266,666 shares in the company, valued at approximately $219,149,315.66. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other news, insider Bart Volkmer sold 7,054 shares of the firm’s stock in a transaction dated Friday, September 15th. The shares were sold at an average price of $27.14, for a total transaction of $191,445.56. Following the completion of the sale, the insider now owns 305,658 shares in the company, valued at approximately $8,295,558.12. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Andrew Houston sold 162,500 shares of Dropbox stock in a transaction dated Wednesday, July 5th. The stock was sold at an average price of $26.51, for a total transaction of $4,307,875.00. Following the completion of the sale, the chief executive officer now owns 8,266,666 shares of the company’s stock, valued at approximately $219,149,315.66. The disclosure for this sale can be found here. Insiders sold a total of 438,763 shares of company stock valued at $11,945,633 in the last quarter. Company insiders own 25.78% of the company’s stock.
Dropbox Price Performance
Dropbox (NASDAQ:DBX – Get Free Report) last announced its quarterly earnings data on Thursday, August 3rd. The company reported $0.28 EPS for the quarter, beating analysts’ consensus estimates of $0.21 by $0.07. Dropbox had a net margin of 21.61% and a negative return on equity of 79.08%. The company had revenue of $622.50 million during the quarter, compared to the consensus estimate of $613.64 million. Analysts expect that Dropbox, Inc. will post 1.05 earnings per share for the current year.
Analyst Upgrades and Downgrades
Several brokerages have recently issued reports on DBX. Citigroup reissued a “neutral” rating and set a $30.00 price objective on shares of Dropbox in a research report on Monday. Credit Suisse Group increased their price objective on shares of Dropbox from $18.00 to $22.00 and gave the stock an “underperform” rating in a research report on Friday, August 4th. KeyCorp increased their price objective on shares of Dropbox from $32.00 to $35.00 and gave the stock an “overweight” rating in a research report on Friday, August 4th. Royal Bank of Canada increased their price objective on shares of Dropbox from $30.00 to $32.00 and gave the stock an “outperform” rating in a research report on Friday, August 4th. Finally, William Blair downgraded shares of Dropbox from an “outperform” rating to a “market perform” rating in a research report on Monday. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $29.14.
Get Our Latest Research Report on DBX
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.
Recommended Stories
- Five stocks we like better than Dropbox
- What Does a Stock Split Mean?
- 3 Compelling Reasons to Start Buying Undervalued Amazon
- Transportation Stocks Investing
- Analysts Recommend These Mining Stocks Before Metal Prices Rally
- 3 Natural Gas Stocks That Offer Great Dividend Yields
- An Improved FedEx Can Deliver A New High: This Is Why
Receive News & Ratings for Dropbox Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Dropbox and related companies with MarketBeat.com's FREE daily email newsletter.
