Vanguard Personalized Indexing Management LLC Buys 7,943 Shares of Dropbox, Inc. (NASDAQ:DBX)

Vanguard Personalized Indexing Management LLC lifted its position in Dropbox, Inc. (NASDAQ:DBX) by 38.0% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 28,841 shares of the company’s stock after buying an additional 7,943 shares during the quarter. Vanguard Personalized Indexing Management LLC’s holdings in Dropbox were worth $648,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Dimensional Fund Advisors LP increased its position in Dropbox by 63.7% during the second quarter. Dimensional Fund Advisors LP now owns 2,536,412 shares of the company’s stock worth $56,994,000 after buying an additional 986,942 shares during the last quarter. Russell Investments Group Ltd. increased its holdings in shares of Dropbox by 68.2% during the 1st quarter. Russell Investments Group Ltd. now owns 1,949,274 shares of the company’s stock worth $47,397,000 after acquiring an additional 790,191 shares during the last quarter. Norges Bank bought a new stake in Dropbox in the 4th quarter valued at $19,361,000. Bank of Nova Scotia lifted its holdings in Dropbox by 7,701.9% during the 4th quarter. Bank of Nova Scotia now owns 618,456 shares of the company’s stock valued at $18,231,000 after purchasing an additional 610,529 shares during the last quarter. Finally, Acadian Asset Management LLC boosted its position in Dropbox by 18.7% during the first quarter. Acadian Asset Management LLC now owns 3,279,401 shares of the company’s stock worth $79,664,000 after purchasing an additional 517,052 shares during the period. 94.84% of the stock is currently owned by institutional investors and hedge funds.

Dropbox Stock Down 0.4 %

Shares of Dropbox stock opened at $24.82 on Thursday. The firm’s 50-day moving average price is $23.69 and its two-hundred day moving average price is $23.24. The company has a market capitalization of $8.08 billion, a price-to-earnings ratio of 16.44, a PEG ratio of 1.55 and a beta of 0.61. Dropbox, Inc. has a 12-month low of $20.68 and a 12-month high of $33.43.

Dropbox (NASDAQ:DBX) last announced its quarterly earnings data on Thursday, August 8th. The company reported $0.60 EPS for the quarter, beating the consensus estimate of $0.52 by $0.08. Dropbox had a net margin of 23.06% and a negative return on equity of 161.78%. The business had revenue of $634.50 million during the quarter, compared to the consensus estimate of $630.10 million. During the same period in the previous year, the business earned $0.28 earnings per share. The company’s revenue was up 1.9% on a year-over-year basis. On average, sell-side analysts expect that Dropbox, Inc. will post 1.31 earnings per share for the current year.

Insiders Place Their Bets

In related news, CFO Timothy Regan sold 13,000 shares of Dropbox stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $22.33, for a total transaction of $290,290.00. Following the sale, the chief financial officer now directly owns 538,122 shares of the company’s stock, valued at approximately $12,016,264.26. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, CEO Andrew Houston sold 82,000 shares of the company’s stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $22.40, for a total value of $1,836,800.00. Following the completion of the transaction, the chief executive officer now owns 8,266,666 shares of the company’s stock, valued at $185,173,318.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Timothy Regan sold 13,000 shares of Dropbox stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $22.33, for a total transaction of $290,290.00. Following the sale, the chief financial officer now owns 538,122 shares in the company, valued at $12,016,264.26. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 114,570 shares of company stock valued at $2,592,315. 26.40% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several equities analysts have commented on DBX shares. UBS Group decreased their price objective on shares of Dropbox from $30.00 to $28.00 and set a “buy” rating on the stock in a report on Friday, August 9th. Citigroup dropped their price target on Dropbox from $26.00 to $25.00 and set a “neutral” rating for the company in a report on Wednesday, June 26th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $28.67.

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.