793,176 Shares in Dropbox, Inc. $DBX Acquired by Arbejdsmarkedets Tillaegspension

Arbejdsmarkedets Tillaegspension acquired a new position in shares of Dropbox, Inc. (NASDAQ:DBX) in the fourth quarter, HoldingsChannel.com reports. The institutional investor acquired 793,176 shares of the company’s stock, valued at approximately $22,050,000.

A number of other institutional investors also recently modified their holdings of DBX. Rossby Financial LCC grew its stake in Dropbox by 128.5% during the third quarter. Rossby Financial LCC now owns 937 shares of the company’s stock valued at $28,000 after acquiring an additional 527 shares in the last quarter. Palisade Asset Management LLC purchased a new stake in shares of Dropbox in the 3rd quarter worth about $30,000. First Horizon Corp purchased a new position in Dropbox during the 3rd quarter valued at about $31,000. LRI Investments LLC lifted its position in Dropbox by 666.7% during the 3rd quarter. LRI Investments LLC now owns 1,150 shares of the company’s stock valued at $35,000 after acquiring an additional 1,000 shares during the period. Finally, Geneos Wealth Management Inc. increased its stake in Dropbox by 78.0% during the 2nd quarter. Geneos Wealth Management Inc. now owns 1,273 shares of the company’s stock valued at $36,000 after purchasing an additional 558 shares in the last quarter. 94.84% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, insider Ashraf Alkarmi sold 12,472 shares of Dropbox stock in a transaction that occurred on Tuesday, March 3rd. The stock was sold at an average price of $26.00, for a total value of $324,272.00. Following the completion of the transaction, the insider owned 414,661 shares in the company, valued at approximately $10,781,186. This trade represents a 2.92% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CTO Ali Dasdan sold 7,306 shares of Dropbox stock in a transaction on Thursday, February 26th. The shares were sold at an average price of $24.89, for a total value of $181,846.34. Following the sale, the chief technology officer directly owned 499,379 shares in the company, valued at $12,429,543.31. The trade was a 1.44% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 249,288 shares of company stock valued at $5,994,652 in the last quarter. Corporate insiders own 35.48% of the company’s stock.

Dropbox Stock Performance

NASDAQ:DBX opened at $26.82 on Friday. The stock has a market capitalization of $6.26 billion, a price-to-earnings ratio of 14.66, a PEG ratio of 2.95 and a beta of 0.64. Dropbox, Inc. has a 1 year low of $21.69 and a 1 year high of $32.40. The stock has a fifty day moving average price of $24.52 and a two-hundred day moving average price of $26.44.

Dropbox (NASDAQ:DBX) last posted its earnings results on Thursday, May 7th. The company reported $0.76 earnings per share for the quarter, beating the consensus estimate of $0.71 by $0.05. The company had revenue of $629.50 million for the quarter, compared to analyst estimates of $620.56 million. Dropbox had a negative return on equity of 30.01% and a net margin of 18.71%.Dropbox’s revenue was up .8% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.70 earnings per share. On average, analysts predict that Dropbox, Inc. will post 2.03 EPS for the current year.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on DBX. Royal Bank Of Canada boosted their target price on shares of Dropbox from $30.00 to $32.00 and gave the company an “outperform” rating in a research report on Friday, May 8th. JPMorgan Chase & Co. lowered their price objective on shares of Dropbox from $29.00 to $25.00 and set a “neutral” rating for the company in a research note on Friday, February 20th. Weiss Ratings reissued a “hold (c)” rating on shares of Dropbox in a research report on Monday, May 4th. UBS Group cut their price target on shares of Dropbox from $27.00 to $23.00 and set a “sell” rating on the stock in a report on Friday, February 20th. Finally, William Blair restated an “underperform” rating on shares of Dropbox in a report on Monday, March 23rd. One equities research analyst has rated the stock with a Buy rating, three have given a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Reduce” and a consensus target price of $27.00.

Dropbox Profile

Dropbox, Inc (NASDAQ: DBX) is a leading provider of cloud-based file storage, collaboration, and productivity tools. Founded in 2007 and headquartered in San Francisco, California, the company offers a suite of services designed to help individuals and organizations securely store, share, and manage digital content. Dropbox has grown from a simple file-syncing application into an integrated collaboration platform used by millions of customers around the globe.

At its core, Dropbox provides cloud storage plans tailored for consumers and businesses.