Dropbox, Inc. (NASDAQ:DBX) Shares Acquired by Cooper Financial Group

Cooper Financial Group increased its holdings in shares of Dropbox, Inc. (NASDAQ:DBXFree Report) by 3.1% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 15,581 shares of the company’s stock after purchasing an additional 462 shares during the quarter. Cooper Financial Group’s holdings in Dropbox were worth $379,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Federated Hermes Inc. raised its stake in shares of Dropbox by 68.6% in the 3rd quarter. Federated Hermes Inc. now owns 120,471 shares of the company’s stock valued at $3,280,000 after acquiring an additional 49,000 shares during the period. Cary Street Partners Investment Advisory LLC lifted its stake in Dropbox by 29,175.0% during the third quarter. Cary Street Partners Investment Advisory LLC now owns 1,171 shares of the company’s stock worth $32,000 after purchasing an additional 1,167 shares in the last quarter. O Shaughnessy Asset Management LLC acquired a new position in Dropbox during the third quarter worth $277,000. Trexquant Investment LP purchased a new position in shares of Dropbox during the third quarter worth $6,898,000. Finally, Gotham Asset Management LLC grew its stake in shares of Dropbox by 13.4% in the third quarter. Gotham Asset Management LLC now owns 16,854 shares of the company’s stock valued at $459,000 after buying an additional 1,994 shares in the last quarter. 94.84% of the stock is currently owned by hedge funds and other institutional investors.

Dropbox Price Performance

Shares of DBX traded up $1.17 during midday trading on Friday, reaching $22.13. The stock had a trading volume of 15,081,250 shares, compared to its average volume of 5,049,807. The company has a market cap of $7.31 billion, a price-to-earnings ratio of 14.66, a PEG ratio of 1.45 and a beta of 0.68. The company’s fifty day simple moving average is $22.77 and its two-hundred day simple moving average is $26.01. Dropbox, Inc. has a 1-year low of $20.68 and a 1-year high of $33.43.

Dropbox (NASDAQ:DBXGet Free Report) last posted its quarterly earnings results on Thursday, May 9th. The company reported $0.41 earnings per share for the quarter, beating analysts’ consensus estimates of $0.28 by $0.13. The company had revenue of $631.30 million for the quarter, compared to analysts’ expectations of $628.81 million. Dropbox had a negative return on equity of 148.13% and a net margin of 20.50%. On average, sell-side analysts forecast that Dropbox, Inc. will post 1.26 earnings per share for the current year.

Insider Activity at Dropbox

In related news, CFO Timothy Regan sold 3,000 shares of the stock in a transaction on Wednesday, March 27th. The shares were sold at an average price of $24.36, for a total value of $73,080.00. Following the transaction, the chief financial officer now directly owns 400,720 shares of the company’s stock, valued at approximately $9,761,539.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other news, insider Eric Cox sold 8,536 shares of Dropbox stock in a transaction on Monday, June 10th. The shares were sold at an average price of $21.27, for a total value of $181,560.72. Following the transaction, the insider now directly owns 350,471 shares of the company’s stock, valued at approximately $7,454,518.17. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Timothy Regan sold 3,000 shares of the stock in a transaction on Wednesday, March 27th. The stock was sold at an average price of $24.36, for a total transaction of $73,080.00. Following the sale, the chief financial officer now owns 400,720 shares of the company’s stock, valued at approximately $9,761,539.20. The disclosure for this sale can be found here. Insiders sold 201,218 shares of company stock valued at $4,607,699 over the last three months. 26.40% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Separately, Citigroup lowered their target price on Dropbox from $31.00 to $27.00 and set a “neutral” rating for the company in a report on Friday, March 22nd. Three investment analysts have rated the stock with a sell rating, four have assigned a hold rating and three have given a buy rating to the company. According to MarketBeat.com, Dropbox currently has an average rating of “Hold” and a consensus target price of $29.78.

View Our Latest Research Report on DBX

Dropbox Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Dropbox (NASDAQ:DBX)

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