1,319 Shares in Dropbox, Inc. (NASDAQ:DBX) Acquired by Avalon Trust Co

Avalon Trust Co acquired a new position in shares of Dropbox, Inc. (NASDAQ:DBX) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 1,319 shares of the company’s stock, valued at approximately $39,000.

Several other large investors also recently added to or reduced their stakes in DBX. LSV Asset Management boosted its position in shares of Dropbox by 119.4% during the 4th quarter. LSV Asset Management now owns 3,305,730 shares of the company’s stock valued at $97,453,000 after acquiring an additional 1,799,030 shares during the last quarter. DekaBank Deutsche Girozentrale boosted its holdings in Dropbox by 65.8% in the 4th quarter. DekaBank Deutsche Girozentrale now owns 2,189,593 shares of the company’s stock valued at $64,825,000 after purchasing an additional 869,043 shares during the last quarter. Caisse DE Depot ET Placement DU Quebec grew its stake in shares of Dropbox by 41.8% in the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 1,745,782 shares of the company’s stock valued at $47,538,000 after buying an additional 514,898 shares during the period. WINTON GROUP Ltd increased its holdings in shares of Dropbox by 5,263.9% during the 3rd quarter. WINTON GROUP Ltd now owns 428,899 shares of the company’s stock worth $11,679,000 after buying an additional 420,903 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. raised its position in shares of Dropbox by 50.8% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 909,638 shares of the company’s stock valued at $24,769,000 after buying an additional 306,590 shares during the period. 94.84% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on DBX shares. Citigroup lowered their price objective on Dropbox from $31.00 to $27.00 and set a “neutral” rating for the company in a research report on Friday, March 22nd. The Goldman Sachs Group cut shares of Dropbox from a “neutral” rating to a “sell” rating and decreased their target price for the company from $26.00 to $24.00 in a research report on Friday, February 16th. JPMorgan Chase & Co. cut shares of Dropbox from an “overweight” rating to a “neutral” rating and dropped their price target for the company from $33.00 to $30.00 in a research report on Friday, February 16th. KeyCorp increased their price objective on shares of Dropbox from $32.00 to $37.00 and gave the stock an “overweight” rating in a research report on Friday, January 19th. Finally, Bank of America lowered Dropbox from a “buy” rating to an “underperform” rating and cut their target price for the company from $34.00 to $28.00 in a research report on Friday, February 16th. Three investment analysts have rated the stock with a sell rating, four have assigned a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $29.78.

Dropbox Trading Down 0.9 %

Shares of NASDAQ DBX traded down $0.22 during mid-day trading on Friday, reaching $23.37. The company had a trading volume of 5,040,096 shares, compared to its average volume of 2,918,350. Dropbox, Inc. has a 52-week low of $19.55 and a 52-week high of $33.43. The stock has a market cap of $8.04 billion, a P/E ratio of 17.70, a PEG ratio of 2.62 and a beta of 0.70. The firm has a 50 day simple moving average of $23.76 and a two-hundred day simple moving average of $27.15.

Dropbox (NASDAQ:DBX) last posted its earnings results on Thursday, February 15th. The company reported $0.25 earnings per share for the quarter, missing the consensus estimate of $0.26 by ($0.01). The firm had revenue of $635.00 million during the quarter, compared to analysts’ expectations of $630.77 million. Dropbox had a net margin of 18.13% and a negative return on equity of 120.82%. On average, equities analysts expect that Dropbox, Inc. will post 1.14 EPS for the current year.

Insider Activity at Dropbox

In other Dropbox news, CFO Timothy Regan sold 3,000 shares of the firm’s stock in a transaction on Friday, March 15th. The stock was sold at an average price of $24.02, for a total value of $72,060.00. Following the completion of the sale, the chief financial officer now owns 403,720 shares of the company’s stock, valued at $9,697,354.40. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In related news, CFO Timothy Regan sold 3,000 shares of the business’s stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $24.02, for a total value of $72,060.00. Following the sale, the chief financial officer now directly owns 403,720 shares in the company, valued at approximately $9,697,354.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Bart Volkmer sold 7,039 shares of the company’s stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $24.02, for a total transaction of $169,076.78. Following the completion of the sale, the insider now directly owns 233,988 shares in the company, valued at approximately $5,620,391.76. The disclosure for this sale can be found here. Insiders sold a total of 271,721 shares of company stock worth $6,443,955 over the last 90 days. Company insiders own 26.40% of the company’s stock.

About Dropbox

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.