Leuthold Group LLC Increases Stake in Dropbox, Inc. (NASDAQ:DBX)

Leuthold Group LLC boosted its position in shares of Dropbox, Inc. (NASDAQ:DBX) by 35.8% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 17,495 shares of the company’s stock after purchasing an additional 4,616 shares during the period. Leuthold Group LLC’s holdings in Dropbox were worth $516,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. GAMMA Investing LLC acquired a new position in Dropbox in the fourth quarter valued at approximately $25,000. Contravisory Investment Management Inc. purchased a new stake in Dropbox in the fourth quarter valued at $26,000. Fifth Third Bancorp boosted its stake in Dropbox by 424.2% in the third quarter. Fifth Third Bancorp now owns 1,085 shares of the company’s stock valued at $30,000 after acquiring an additional 878 shares in the last quarter. Cary Street Partners Investment Advisory LLC increased its position in shares of 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. Finally, Avalon Trust Co purchased a new stake in shares of Dropbox in the 4th quarter valued at about $39,000. 94.84% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts have commented on the company. JMP Securities downgraded Dropbox from an “outperform” rating to a “market perform” rating in a research note on Friday, February 16th. Citigroup dropped their price target on Dropbox from $31.00 to $27.00 and set a “neutral” rating for the company in a research report on Friday, March 22nd. Bank of America cut Dropbox from a “buy” rating to an “underperform” rating and dropped their price objective for the stock from $34.00 to $28.00 in a research report on Friday, February 16th. JPMorgan Chase & Co. downgraded Dropbox from an “overweight” rating to a “neutral” rating and dropped their price objective for the stock from $33.00 to $30.00 in a report on Friday, February 16th. Finally, The Goldman Sachs Group cut Dropbox from a “neutral” rating to a “sell” rating and reduced their target price for the company from $26.00 to $24.00 in a report on Friday, February 16th. Three analysts have rated the stock with a sell rating, four have assigned a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $29.78.

Insider Activity at Dropbox

In other news, CEO Andrew Houston sold 164,000 shares of the stock in a transaction on Tuesday, March 5th. The shares were sold at an average price of $23.86, for a total transaction of $3,913,040.00. Following the transaction, the chief executive officer now owns 8,266,666 shares in the company, valued at approximately $197,242,650.76. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other Dropbox news, CFO Timothy Regan sold 3,000 shares of Dropbox stock in a transaction on Friday, March 15th. The shares were sold at an average price of $24.02, for a total transaction of $72,060.00. Following the sale, the chief financial officer now owns 403,720 shares in the company, valued at $9,697,354.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Andrew Houston sold 164,000 shares of the stock in a transaction on Tuesday, March 5th. The shares were sold at an average price of $23.86, for a total transaction of $3,913,040.00. Following the completion of the transaction, the chief executive officer now owns 8,266,666 shares of the company’s stock, valued at approximately $197,242,650.76. The disclosure for this sale can be found here. In the last quarter, insiders sold 271,721 shares of company stock valued at $6,443,955. 26.40% of the stock is owned by corporate insiders.

Dropbox Price Performance

Shares of Dropbox stock traded up $0.17 during trading on Monday, hitting $23.54. The stock had a trading volume of 3,390,479 shares, compared to its average volume of 3,852,317. The business has a fifty day moving average of $23.76 and a two-hundred day moving average of $27.15. Dropbox, Inc. has a fifty-two week low of $21.19 and a fifty-two week high of $33.43. The firm has a market cap of $8.10 billion, a P/E ratio of 17.70, a PEG ratio of 2.62 and a beta of 0.70.

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

Dropbox Company Profile

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.