KBC Group NV increased its position in Dropbox, Inc. (NASDAQ:DBX – Free Report) by 12.6% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 944,829 shares of the company’s stock after purchasing an additional 105,876 shares during the quarter. KBC Group NV owned approximately 0.39% of Dropbox worth $21,466,000 at the end of the most recent quarter.
A number of other institutional investors have also recently bought and sold shares of the business. WealthCollab LLC raised its stake in shares of Dropbox by 20.6% in the 4th quarter. WealthCollab LLC now owns 2,356 shares of the company’s stock valued at $65,000 after buying an additional 403 shares in the last quarter. Parallel Advisors LLC boosted its position in shares of Dropbox by 8.3% during the 4th quarter. Parallel Advisors LLC now owns 5,765 shares of the company’s stock valued at $160,000 after acquiring an additional 440 shares in the last quarter. Lakewood Asset Management LLC increased its stake in Dropbox by 1.0% in the fourth quarter. Lakewood Asset Management LLC now owns 44,905 shares of the company’s stock valued at $1,248,000 after acquiring an additional 458 shares during the period. Northwestern Mutual Wealth Management Co. increased its stake in Dropbox by 1.8% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 26,254 shares of the company’s stock valued at $730,000 after acquiring an additional 466 shares during the period. Finally, Merit Financial Group LLC raised its position in Dropbox by 4.4% in the third quarter. Merit Financial Group LLC now owns 11,385 shares of the company’s stock worth $344,000 after purchasing an additional 480 shares in the last quarter. Institutional investors and hedge funds own 94.84% of the company’s stock.
Insider Transactions at Dropbox
In other Dropbox news, Director Andrew William Moore sold 8,443 shares of the business’s stock in a transaction on Monday, May 18th. The stock was sold at an average price of $27.57, for a total value of $232,773.51. Following the transaction, the director owned 4,737 shares of the company’s stock, valued at approximately $130,599.09. The trade was a 64.06% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider William T. Yoon sold 7,230 shares of the stock in a transaction on Monday, May 18th. The stock was sold at an average price of $27.57, for a total value of $199,331.10. Following the sale, the insider owned 366,963 shares in the company, valued at $10,117,169.91. The trade was a 1.93% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last quarter, insiders have sold 129,082 shares of company stock worth $3,489,910. 35.48% of the stock is owned by company insiders.
Dropbox Stock Down 3.6%
Dropbox (NASDAQ:DBX – Get Free Report) last posted its quarterly earnings data on Thursday, May 7th. The company reported $0.76 earnings per share for the quarter, topping the consensus estimate of $0.71 by $0.05. The company had revenue of $629.50 million during the quarter, compared to analyst estimates of $620.56 million. Dropbox had a net margin of 18.71% and a negative return on equity of 30.01%. The company’s revenue was up .8% on a year-over-year basis. During the same quarter last year, the business posted $0.70 earnings per share. On average, research analysts expect that Dropbox, Inc. will post 2.09 EPS for the current fiscal year.
Analyst Ratings Changes
A number of research analysts have commented on the stock. Royal Bank Of Canada restated an “outperform” rating on shares of Dropbox in a research note on Monday, June 1st. Wall Street Zen raised Dropbox from a “hold” rating to a “buy” rating in a report on Sunday, June 28th. Citigroup raised their target price on Dropbox from $27.00 to $28.00 and gave the stock a “neutral” rating in a research report on Monday, May 11th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Dropbox in a research note on Monday, May 4th. One analyst has rated the stock with a Buy rating, three have given a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Reduce” and an average target price of $27.00.
Check Out Our Latest Report on Dropbox
Dropbox Company 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.
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