52,530 Shares in Dropbox, Inc. (NASDAQ:DBX) Bought by New Age Alpha Advisors LLC

New Age Alpha Advisors LLC bought a new stake in shares of Dropbox, Inc. (NASDAQ:DBX) in the 4th quarter, HoldingsChannel reports. The firm bought 52,530 shares of the company’s stock, valued at approximately $1,578,000.

A number of other hedge funds also recently made changes to their positions in DBX. Norges Bank purchased a new stake in Dropbox in the fourth quarter worth approximately $20,482,000. Caisse Des Depots ET Consignations purchased a new stake in shares of Dropbox in the 4th quarter valued at $3,608,000. Elo Mutual Pension Insurance Co purchased a new stake in shares of Dropbox in the 4th quarter valued at $403,000. WINTON GROUP Ltd purchased a new position in Dropbox in the 4th quarter worth $5,853,000. Finally, Murphy & Mullick Capital Management Corp bought a new stake in Dropbox in the fourth quarter worth $143,000. 94.84% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

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

Dropbox Stock Performance

NASDAQ:DBX opened at $26.56 on Monday. Dropbox, Inc. has a fifty-two week low of $20.68 and a fifty-two week high of $33.33. The business has a 50 day moving average price of $29.03 and a 200-day moving average price of $28.09. The firm has a market cap of $8.01 billion, a PE ratio of 18.84, a price-to-earnings-growth ratio of 1.70 and a beta of 0.77.

Dropbox (NASDAQ:DBX) last announced 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). Dropbox had a net margin of 17.75% and a negative return on equity of 132.63%. The business had revenue of $643.60 million for the quarter, compared to analysts’ expectations of $638.61 million. Research analysts predict that Dropbox, Inc. will post 1.64 EPS for the current year.

Insider Activity at Dropbox

In other Dropbox news, CFO Timothy Regan sold 10,000 shares of the company’s stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $29.65, for a total transaction of $296,500.00. Following the transaction, the chief financial officer now owns 403,764 shares in the company, valued at approximately $11,971,602.60. This represents a 2.42 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Andrew Houston sold 29,917 shares of the stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $30.07, for a total value of $899,604.19. Following the completion of the transaction, the chief executive officer now directly owns 8,266,666 shares of the company’s stock, valued at $248,578,646.62. This represents a 0.36 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 632,004 shares of company stock worth $18,859,580 over the last quarter. Corporate insiders own 28.59% of the company’s stock.

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.