Los Angeles Capital Management LLC Buys New Holdings in Dropbox, Inc. (NASDAQ:DBX)

Los Angeles Capital Management LLC bought a new position in Dropbox, Inc. (NASDAQ:DBX) in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 9,889 shares of the company’s stock, valued at approximately $240,000.

A number of other institutional investors have also recently bought and sold shares of the business. Federated Hermes Inc. grew its stake in shares of Dropbox by 68.6% in the 3rd quarter. Federated Hermes Inc. now owns 120,471 shares of the company’s stock valued at $3,280,000 after purchasing an additional 49,000 shares during the period. Cary Street Partners Investment Advisory LLC raised its stake in Dropbox by 29,175.0% during the third 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 in the last quarter. O Shaughnessy Asset Management LLC bought a new position in shares of Dropbox during the third quarter valued at $277,000. Gotham Asset Management LLC boosted its stake in shares of Dropbox by 13.4% in the 3rd quarter. Gotham Asset Management LLC now owns 16,854 shares of the company’s stock valued at $459,000 after purchasing an additional 1,994 shares in the last quarter. Finally, Caisse DE Depot ET Placement DU Quebec grew its holdings in shares of Dropbox by 41.8% in the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 1,745,782 shares of the company’s stock worth $47,538,000 after purchasing an additional 514,898 shares during the last quarter. Institutional investors and hedge funds own 94.84% of the company’s stock.

Dropbox Stock Up 2.7 %

Shares of NASDAQ:DBX opened at $22.42 on Friday. The firm has a market cap of $7.40 billion, a P/E ratio of 14.85, a P/E/G ratio of 1.52 and a beta of 0.68. Dropbox, Inc. has a 12 month low of $20.68 and a 12 month high of $33.43. The company’s 50-day moving average price is $22.70 and its two-hundred day moving average price is $25.87.

Dropbox (NASDAQ:DBX) last issued its quarterly earnings results on Thursday, May 9th. The company reported $0.41 earnings per share for the quarter, beating analysts’ consensus estimates of $0.28 by $0.13. Dropbox had a net margin of 20.50% and a negative return on equity of 148.13%. The business had revenue of $631.30 million during the quarter, compared to analyst estimates of $628.81 million. As a group, equities analysts predict that Dropbox, Inc. will post 1.26 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Separately, Citigroup cut their price target on shares of Dropbox from $26.00 to $25.00 and set a “neutral” rating for the company in a report on Wednesday. Three investment analysts have rated the stock with a sell rating, four have assigned a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $29.56.

Insider Transactions at Dropbox

In other Dropbox news, insider Eric Cox sold 8,536 shares of the company’s stock in a transaction dated Monday, June 10th. The shares were sold at an average price of $21.27, for a total transaction of $181,560.72. Following the transaction, the insider now directly owns 350,471 shares in the company, valued at approximately $7,454,518.17. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, CEO Andrew Houston sold 82,000 shares of Dropbox stock in a transaction on Wednesday, May 1st. The stock was sold at an average price of $23.44, for a total transaction of $1,922,080.00. Following the completion of the sale, the chief executive officer now directly owns 8,266,666 shares of the company’s stock, valued at $193,770,651.04. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Eric Cox sold 8,536 shares of the stock in a transaction dated Monday, June 10th. The shares were sold at an average price of $21.27, for a total value of $181,560.72. Following the completion of the transaction, the insider now directly owns 350,471 shares in the company, valued at approximately $7,454,518.17. The disclosure for this sale can be found here. Insiders sold a total of 198,218 shares of company stock worth $4,534,619 over the last 90 days. 26.40% of the stock is owned by insiders.

Dropbox 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.