Charles Schwab Investment Management Inc. Buys 117,767 Shares of Dropbox, Inc. (NASDAQ:DBX)

Charles Schwab Investment Management Inc. lifted its stake in Dropbox, Inc. (NASDAQ:DBX) by 4.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,914,005 shares of the company’s stock after purchasing an additional 117,767 shares during the period. Charles Schwab Investment Management Inc.’s holdings in Dropbox were worth $87,537,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Capital Performance Advisors LLP bought a new position in shares of Dropbox in the third quarter worth about $28,000. Avion Wealth grew its holdings in Dropbox by 4,472.7% during the 4th quarter. Avion Wealth now owns 1,006 shares of the company’s stock worth $30,000 after acquiring an additional 984 shares in the last quarter. SBI Securities Co. Ltd. bought a new position in Dropbox during the 4th quarter worth about $40,000. Allworth Financial LP grew its holdings in Dropbox by 33.5% during the 4th quarter. Allworth Financial LP now owns 1,456 shares of the company’s stock worth $45,000 after acquiring an additional 365 shares in the last quarter. Finally, V Square Quantitative Management LLC grew its holdings in Dropbox by 39.0% during the 4th quarter. V Square Quantitative Management LLC now owns 1,717 shares of the company’s stock worth $52,000 after acquiring an additional 482 shares in the last quarter. 94.84% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

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

Dropbox Price Performance

Shares of Dropbox stock opened at $25.60 on Tuesday. Dropbox, Inc. has a 1 year low of $20.68 and a 1 year high of $33.33. The firm’s 50-day moving average is $30.06 and its two-hundred day moving average is $27.88. The stock has a market cap of $7.72 billion, a price-to-earnings ratio of 18.16, a PEG ratio of 1.70 and a beta of 0.77.

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). Dropbox had a net margin of 17.75% and a negative return on equity of 132.63%. The firm had revenue of $643.60 million during the quarter, compared to the consensus estimate of $638.61 million. On average, equities analysts expect that Dropbox, Inc. will post 1.64 earnings per share for the current year.

Insider Activity

In related news, CEO Andrew Houston sold 500,323 shares of the stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $29.65, for a total value of $14,834,576.95. Following the completion of the transaction, the chief executive officer now directly owns 8,266,666 shares of the company’s stock, valued at $245,106,646.90. This trade represents a 5.71 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Timothy Regan sold 2,500 shares of the stock in a transaction that occurred on Monday, December 30th. The shares were sold at an average price of $30.38, for a total transaction of $75,950.00. Following the completion of the transaction, the chief financial officer now directly owns 413,764 shares of the company’s stock, valued at $12,570,150.32. The trade was a 0.60 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 772,003 shares of company stock worth $23,067,375. Corporate 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.