Axa S.A. Raises Holdings in Dropbox, Inc. (NASDAQ:DBX)

Axa S.A. lifted its stake in Dropbox, Inc. (NASDAQ:DBX) by 254.0% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 330,504 shares of the company’s stock after purchasing an additional 237,135 shares during the quarter. Axa S.A. owned about 0.10% of Dropbox worth $7,426,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Norges Bank purchased a new position in Dropbox in the 4th quarter worth $19,361,000. US Bancorp DE raised its stake in shares of Dropbox by 67.4% in the fourth quarter. US Bancorp DE now owns 44,194 shares of the company’s stock worth $1,303,000 after purchasing an additional 17,800 shares during the last quarter. Advisory Services Network LLC boosted its position in Dropbox by 6.2% in the fourth quarter. Advisory Services Network LLC now owns 15,382 shares of the company’s stock valued at $453,000 after buying an additional 893 shares during the last quarter. Hsbc Holdings PLC boosted its position in Dropbox by 224.5% in the fourth quarter. Hsbc Holdings PLC now owns 326,241 shares of the company’s stock valued at $9,624,000 after buying an additional 225,713 shares during the last quarter. Finally, Parallel Advisors LLC boosted its position in Dropbox by 7.4% in the fourth quarter. Parallel Advisors LLC now owns 6,642 shares of the company’s stock valued at $196,000 after buying an additional 459 shares during the last quarter. 94.84% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Dropbox news, CEO Andrew Houston sold 66,064 shares of the firm’s stock in a transaction that occurred on Tuesday, September 24th. The stock was sold at an average price of $25.00, for a total value of $1,651,600.00. Following the sale, the chief executive officer now directly owns 8,266,666 shares of the company’s stock, valued at $206,666,650. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, CEO Andrew Houston sold 66,064 shares of Dropbox stock in a transaction dated Tuesday, September 24th. The shares were sold at an average price of $25.00, for a total value of $1,651,600.00. Following the sale, the chief executive officer now owns 8,266,666 shares in the company, valued at $206,666,650. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Bart Volkmer sold 7,000 shares of the company’s stock in a transaction dated Monday, July 15th. The stock was sold at an average price of $22.76, for a total transaction of $159,320.00. Following the transaction, the insider now owns 333,934 shares of the company’s stock, valued at approximately $7,600,337.84. The disclosure for this sale can be found here. In the last 90 days, insiders sold 180,634 shares of company stock valued at $4,243,915. 26.40% of the stock is owned by company insiders.

Dropbox Price Performance

NASDAQ:DBX opened at $25.31 on Friday. The company has a 50 day moving average price of $23.77 and a 200-day moving average price of $23.27. Dropbox, Inc. has a 1-year low of $20.68 and a 1-year high of $33.43. The firm has a market cap of $8.36 billion, a price-to-earnings ratio of 16.76, a price-to-earnings-growth ratio of 1.55 and a beta of 0.61.

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

Analysts Set New Price Targets

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

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.