498,137 Shares in Dropbox Inc (NASDAQ:DBX) Acquired by Nuveen Asset Management LLC

Nuveen Asset Management LLC bought a new position in Dropbox Inc (NASDAQ:DBX) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 498,137 shares of the company’s stock, valued at approximately $11,128,000. Nuveen Asset Management LLC owned about 0.11% of Dropbox as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Geode Capital Management LLC lifted its position in Dropbox by 87.7% during the fourth quarter. Geode Capital Management LLC now owns 704,904 shares of the company’s stock valued at $14,401,000 after buying an additional 329,323 shares in the last quarter. First Trust Advisors LP lifted its position in Dropbox by 2.7% during the first quarter. First Trust Advisors LP now owns 4,016,234 shares of the company’s stock valued at $87,554,000 after buying an additional 104,439 shares in the last quarter. BlackRock Inc. lifted its position in Dropbox by 7.2% during the first quarter. BlackRock Inc. now owns 13,521,764 shares of the company’s stock valued at $294,775,000 after buying an additional 910,593 shares in the last quarter. Xact Kapitalforvaltning AB acquired a new position in Dropbox during the first quarter valued at approximately $270,000. Finally, Formula Growth Ltd. lifted its position in Dropbox by 19.3% during the first quarter. Formula Growth Ltd. now owns 772,000 shares of the company’s stock valued at $16,830,000 after buying an additional 125,000 shares in the last quarter. 40.48% of the stock is currently owned by institutional investors and hedge funds.

In other Dropbox news, CFO Ajay Vashee sold 13,750 shares of the company’s stock in a transaction dated Thursday, September 19th. The shares were sold at an average price of $21.02, for a total value of $289,025.00. Also, insider Quentin Clark sold 16,674 shares of the company’s stock in a transaction dated Wednesday, July 24th. The shares were sold at an average price of $24.56, for a total transaction of $409,513.44. The disclosure for this sale can be found here. Insiders sold a total of 93,742 shares of company stock valued at $1,956,472 over the last three months. 31.20% of the stock is owned by corporate insiders.

Shares of NASDAQ DBX opened at $19.27 on Friday. Dropbox Inc has a twelve month low of $17.20 and a twelve month high of $27.15. The company has a current ratio of 1.18, a quick ratio of 1.18 and a debt-to-equity ratio of 0.99. The company has a market capitalization of $7.96 billion, a price-to-earnings ratio of -14.71 and a beta of 1.57. The firm has a 50-day moving average of $19.27 and a two-hundred day moving average of $22.02.

Dropbox (NASDAQ:DBX) last issued its quarterly earnings results on Thursday, August 8th. The company reported $0.10 earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.05) by $0.15. Dropbox had a negative net margin of 2.91% and a negative return on equity of 6.57%. The company had revenue of $401.50 million during the quarter, compared to the consensus estimate of $401.09 million. During the same period in the prior year, the company earned $0.11 EPS. Dropbox’s revenue was up 18.4% on a year-over-year basis. As a group, research analysts predict that Dropbox Inc will post -0.12 earnings per share for the current year.

A number of research analysts have recently commented on the stock. Sanford C. Bernstein began coverage on shares of Dropbox in a research report on Wednesday, August 7th. They set an “underperform” rating and a $19.00 target price on the stock. TheStreet downgraded shares of Dropbox from a “c-” rating to a “d+” rating in a report on Friday, August 9th. William Blair dropped coverage on shares of Dropbox in a report on Friday, August 9th. Bank of America dropped coverage on shares of Dropbox in a report on Friday, August 9th. Finally, Royal Bank of Canada dropped coverage on shares of Dropbox in a report on Thursday, September 26th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and nine have issued a buy rating to the company. Dropbox presently has an average rating of “Buy” and an average target price of $28.56.

Dropbox Profile

Dropbox, Inc provides a collaboration platform worldwide. Its platform allows individuals, 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. The company has approximately 500 million registered users across 180 countries.

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Institutional Ownership by Quarter for Dropbox (NASDAQ:DBX)

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