Dropbox, Inc. (NASDAQ:DBX) Shares Acquired by Assenagon Asset Management S.A.

Assenagon Asset Management S.A. lifted its position in shares of Dropbox, Inc. (NASDAQ:DBXFree Report) by 922.0% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 95,331 shares of the company’s stock after purchasing an additional 86,003 shares during the period. Assenagon Asset Management S.A.’s holdings in Dropbox were worth $2,317,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. GAMMA Investing LLC acquired a new position in shares of Dropbox during the fourth quarter worth $25,000. Contravisory Investment Management Inc. acquired a new position in shares of Dropbox during the fourth quarter worth $26,000. Fifth Third Bancorp lifted its position in shares of Dropbox by 424.2% during the third quarter. Fifth Third Bancorp now owns 1,085 shares of the company’s stock worth $30,000 after purchasing an additional 878 shares in the last quarter. Principal Securities Inc. acquired a new position in shares of Dropbox during the fourth quarter worth $34,000. Finally, Sound Income Strategies LLC bought a new stake in shares of Dropbox in the first quarter worth $28,000. 94.84% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts recently issued reports on DBX shares. Citigroup dropped their price target on shares of Dropbox from $31.00 to $27.00 and set a “neutral” rating for the company in a research note on Friday, March 22nd. Bank of America lowered shares of Dropbox from a “buy” rating to an “underperform” rating and dropped their price target for the stock from $34.00 to $28.00 in a research note on Friday, February 16th. The Goldman Sachs Group lowered shares of Dropbox from a “neutral” rating to a “sell” rating and dropped their price target for the stock from $26.00 to $24.00 in a research note on Friday, February 16th. JMP Securities lowered shares of Dropbox from an “outperform” rating to a “market perform” rating in a research note on Friday, February 16th. Finally, JPMorgan Chase & Co. lowered shares of Dropbox from an “overweight” rating to a “neutral” rating and dropped their price target for the stock from $33.00 to $30.00 in a research note on Friday, February 16th. Three analysts have rated the stock with a sell rating, four have issued a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, Dropbox has a consensus rating of “Hold” and an average target price of $29.78.

Check Out Our Latest Stock Report on DBX

Insiders Place Their Bets

In other Dropbox news, CEO Andrew Houston sold 164,000 shares of the business’s stock in a transaction dated Tuesday, March 5th. The stock was sold at an average price of $23.86, for a total transaction of $3,913,040.00. Following the sale, the chief executive officer now owns 8,266,666 shares in the company, valued at approximately $197,242,650.76. The transaction was disclosed in a filing with the SEC, which is available through this link. In other news, insider Bart Volkmer sold 7,039 shares of the company’s stock in a transaction dated Friday, March 15th. The stock was sold at an average price of $24.02, for a total value of $169,076.78. Following the transaction, the insider now owns 233,988 shares in the company, valued at approximately $5,620,391.76. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Andrew Houston sold 164,000 shares of the company’s stock in a transaction dated Tuesday, March 5th. The shares were sold at an average price of $23.86, for a total value of $3,913,040.00. Following the completion of the transaction, the chief executive officer now owns 8,266,666 shares in the company, valued at approximately $197,242,650.76. The disclosure for this sale can be found here. In the last quarter, insiders have sold 271,721 shares of company stock worth $6,443,955. Company insiders own 26.40% of the company’s stock.

Dropbox Stock Performance

Shares of Dropbox stock traded down $0.26 during trading on Tuesday, hitting $23.63. 2,642,723 shares of the stock were exchanged, compared to its average volume of 3,910,924. The stock’s fifty day moving average is $23.70 and its 200 day moving average is $26.92. The stock has a market cap of $7.80 billion, a PE ratio of 15.65, a P/E/G ratio of 1.81 and a beta of 0.70. Dropbox, Inc. has a 12 month low of $22.02 and a 12 month high of $33.43.

Dropbox (NASDAQ:DBXGet Free Report) last issued 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. Dropbox had a net margin of 20.50% and a negative return on equity of 148.13%. The company had revenue of $631.30 million during the quarter, compared to the consensus estimate of $628.81 million. Sell-side analysts anticipate that Dropbox, Inc. will post 1.14 EPS for the current fiscal year.

About Dropbox

(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.

Further Reading

Want to see what other hedge funds are holding DBX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Dropbox, Inc. (NASDAQ:DBXFree Report).

Institutional Ownership by Quarter for Dropbox (NASDAQ:DBX)

Receive News & Ratings for Dropbox Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Dropbox and related companies with MarketBeat.com's FREE daily email newsletter.