8,051 Shares in Dropbox, Inc. (NASDAQ:DBX) Bought by CIBC Asset Management Inc

CIBC Asset Management Inc bought a new position in Dropbox, Inc. (NASDAQ:DBX) in the 4th quarter, HoldingsChannel.com reports. The firm bought 8,051 shares of the company’s stock, valued at approximately $242,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. QRG Capital Management Inc. raised its holdings in shares of Dropbox by 10.6% in the third quarter. QRG Capital Management Inc. now owns 221,716 shares of the company’s stock valued at $5,638,000 after buying an additional 21,190 shares during the last quarter. Aigen Investment Management LP bought a new position in shares of Dropbox in the third quarter valued at about $482,000. Retirement Systems of Alabama raised its holdings in shares of Dropbox by 15.2% in the third quarter. Retirement Systems of Alabama now owns 944,033 shares of the company’s stock valued at $24,007,000 after buying an additional 124,528 shares during the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of Dropbox by 8.9% in the third quarter. Charles Schwab Investment Management Inc. now owns 2,796,238 shares of the company’s stock valued at $71,108,000 after buying an additional 228,685 shares during the last quarter. Finally, Robeco Institutional Asset Management B.V. raised its holdings in shares of Dropbox by 6.1% in the third quarter. Robeco Institutional Asset Management B.V. now owns 2,355,762 shares of the company’s stock valued at $59,907,000 after buying an additional 134,503 shares during the last quarter. 94.84% of the stock is owned by institutional investors.

Dropbox Stock Performance

NASDAQ DBX opened at $26.42 on Wednesday. The business has a 50 day simple moving average of $30.91 and a 200 day simple moving average of $27.67. Dropbox, Inc. has a 52-week low of $20.68 and a 52-week high of $33.33. The stock has a market cap of $8.18 billion, a price-to-earnings ratio of 18.74, a PEG ratio of 1.70 and a beta of 0.61.

Dropbox (NASDAQ:DBX) last released its quarterly earnings results on Thursday, February 20th. The company reported $0.51 earnings per share for the quarter, missing analysts’ consensus estimates of $0.62 by ($0.11). The firm had revenue of $643.60 million for the quarter, compared to analyst estimates of $638.61 million. Dropbox had a negative return on equity of 132.63% and a net margin of 17.75%. On average, analysts predict that Dropbox, Inc. will post 1.64 EPS for the current year.

Analyst Ratings Changes

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

Insider Activity at Dropbox

In other Dropbox news, CFO Timothy Regan sold 2,500 shares of the stock in a transaction on Monday, December 30th. The stock was sold at an average price of $30.38, for a total transaction of $75,950.00. Following the transaction, the chief financial officer now owns 413,764 shares in the company, valued at $12,570,150.32. This trade represents a 0.60 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Andrew Houston sold 137,499 shares of the stock in a transaction on Wednesday, December 11th. The stock was sold at an average price of $30.05, for a total value of $4,131,844.95. Following the transaction, the chief executive officer now owns 8,266,666 shares in the company, valued at $248,413,313.30. The trade was a 1.64 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 900,238 shares of company stock worth $26,680,195. Company insiders own 28.59% of the company’s stock.

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.