Generali Asset Management SPA SGR Acquires New Stake in Dropbox, Inc. (NASDAQ:DBX)

Generali Asset Management SPA SGR acquired a new stake in shares of Dropbox, Inc. (NASDAQ:DBX) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 3,312 shares of the company’s stock, valued at approximately $99,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in DBX. Jacobs Levy Equity Management Inc. increased its holdings in shares of Dropbox by 6.2% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 6,239,493 shares of the company’s stock worth $158,670,000 after purchasing an additional 365,893 shares in the last quarter. Geode Capital Management LLC increased its holdings in shares of Dropbox by 0.6% in the 3rd quarter. Geode Capital Management LLC now owns 4,366,271 shares of the company’s stock worth $111,368,000 after purchasing an additional 25,893 shares in the last quarter. Charles Schwab Investment Management Inc. increased its holdings in shares of Dropbox by 4.2% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,914,005 shares of the company’s stock worth $87,537,000 after purchasing an additional 117,767 shares in the last quarter. Retirement Systems of Alabama increased its holdings in shares of Dropbox by 15.2% in the 3rd quarter. Retirement Systems of Alabama now owns 944,033 shares of the company’s stock worth $24,007,000 after purchasing an additional 124,528 shares in the last quarter. Finally, Glenmede Trust Co. NA increased its holdings in shares of Dropbox by 1.2% in the 3rd quarter. Glenmede Trust Co. NA now owns 751,387 shares of the company’s stock worth $19,108,000 after purchasing an additional 9,078 shares in the last quarter. Institutional investors own 94.84% of the company’s stock.

Insider Activity at Dropbox

In other news, CEO Andrew Houston sold 29,917 shares of the business’s stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $30.07, for a total value of $899,604.19. Following the transaction, the chief executive officer now directly owns 8,266,666 shares in the company, valued at $248,578,646.62. The trade was a 0.36 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Timothy Regan sold 2,500 shares of the business’s stock in a transaction dated Friday, February 7th. The shares were sold at an average price of $32.19, for a total value of $80,475.00. Following the completion of the transaction, the chief financial officer now owns 396,264 shares in the company, valued at $12,755,738.16. The trade was a 0.63 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 634,504 shares of company stock worth $18,935,530. Corporate insiders own 28.59% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Jefferies Financial Group raised their price target on Dropbox from $27.00 to $30.00 and gave the stock a “hold” rating in a research note on Monday, January 6th.

Dropbox Price Performance

DBX stock opened at $26.50 on Friday. The company has a market cap of $8.00 billion, a P/E ratio of 18.79, a price-to-earnings-growth ratio of 1.70 and a beta of 0.77. Dropbox, Inc. has a 1 year low of $20.68 and a 1 year high of $33.33. The stock’s fifty day moving average price is $29.36 and its 200-day moving average price is $27.91.

Dropbox (NASDAQ:DBX) last released its quarterly earnings results on Thursday, February 20th. The company reported $0.51 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.62 by ($0.11). The firm had revenue of $643.60 million during the quarter, compared to analysts’ expectations of $638.61 million. Dropbox had a negative return on equity of 132.63% and a net margin of 17.75%. As a group, analysts expect that Dropbox, Inc. will post 1.64 earnings per share for the current year.

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.