LSV Asset Management Purchases 1,245,563 Shares of Dropbox, Inc. (NASDAQ:DBX)

LSV Asset Management boosted its position in Dropbox, Inc. (NASDAQ:DBX) by 24.0% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 6,446,121 shares of the company’s stock after acquiring an additional 1,245,563 shares during the period. LSV Asset Management owned 2.08% of Dropbox worth $193,641,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also added to or reduced their stakes in DBX. EverSource Wealth Advisors LLC increased its position in shares of Dropbox by 96.1% during the fourth quarter. EverSource Wealth Advisors LLC now owns 865 shares of the company’s stock valued at $26,000 after acquiring an additional 424 shares during the last quarter. Avion Wealth increased its position in shares of Dropbox by 4,472.7% during the fourth quarter. Avion Wealth now owns 1,006 shares of the company’s stock valued at $30,000 after acquiring an additional 984 shares during the last quarter. SBI Securities Co. Ltd. purchased a new stake in shares of Dropbox during the fourth quarter valued at approximately $40,000. Allworth Financial LP increased its position in shares of Dropbox by 33.5% during the fourth quarter. Allworth Financial LP now owns 1,456 shares of the company’s stock valued at $45,000 after acquiring an additional 365 shares during the last quarter. Finally, Huntington National Bank increased its position in shares of Dropbox by 768.9% during the fourth quarter. Huntington National Bank now owns 1,538 shares of the company’s stock valued at $46,000 after acquiring an additional 1,361 shares during the last quarter. Institutional investors own 94.84% of the company’s stock.

Insider Activity at Dropbox

In other news, CEO Andrew Houston sold 80,499 shares of the stock in a transaction that occurred on Tuesday, January 21st. The stock was sold at an average price of $30.97, for a total value of $2,493,054.03. Following the completion of the transaction, the chief executive officer now owns 8,266,666 shares of the company’s stock, valued at approximately $256,018,646.02. This represents a 0.96 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Timothy Regan sold 2,500 shares of the stock in a transaction that occurred on Wednesday, January 15th. The stock was sold at an average price of $30.37, for a total value of $75,925.00. Following the completion of the transaction, the chief financial officer now directly owns 401,264 shares of the company’s stock, valued at $12,186,387.68. This represents a 0.62 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 94,264 shares of company stock worth $2,895,324 in the last ninety days. 28.59% of the stock is owned by company insiders.

Dropbox Stock Up 9.2 %

Dropbox stock opened at $27.77 on Thursday. Dropbox, Inc. has a 52 week low of $20.68 and a 52 week high of $33.33. The business has a 50-day simple moving average of $28.00 and a 200 day simple moving average of $28.18. The stock has a market cap of $8.38 billion, a price-to-earnings ratio of 19.70, a PEG ratio of 1.70 and a beta of 0.75.

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

Analyst Ratings Changes

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

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.