Bank of Montreal Can increased its position in Dropbox Inc (NASDAQ:DBX) by 266.1% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 55,030 shares of the company’s stock after acquiring an additional 40,000 shares during the quarter. Bank of Montreal Can’s holdings in Dropbox were worth $1,200,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also recently made changes to their positions in DBX. Hamilton Lane Advisors LLC boosted its position in shares of Dropbox by 1,502.9% during the 4th quarter. Hamilton Lane Advisors LLC now owns 426,082 shares of the company’s stock valued at $8,705,000 after acquiring an additional 399,500 shares in the last quarter. Deltec Asset Management LLC acquired a new stake in shares of Dropbox during the 1st quarter valued at about $1,373,000. Marathon Trading Investment Management LLC boosted its position in shares of Dropbox by 6.4% during the 4th quarter. Marathon Trading Investment Management LLC now owns 12,020 shares of the company’s stock valued at $246,000 after acquiring an additional 720 shares in the last quarter. Victory Capital Management Inc. boosted its position in shares of Dropbox by 7.9% during the 4th quarter. Victory Capital Management Inc. now owns 2,090,309 shares of the company’s stock valued at $42,705,000 after acquiring an additional 152,263 shares in the last quarter. Finally, Kornitzer Capital Management Inc. KS boosted its position in shares of Dropbox by 37.9% during the 4th quarter. Kornitzer Capital Management Inc. KS now owns 79,858 shares of the company’s stock valued at $1,631,000 after acquiring an additional 21,958 shares in the last quarter. Hedge funds and other institutional investors own 28.71% of the company’s stock.
In other Dropbox news, General Counsel Bart Volkmer sold 9,122 shares of the stock in a transaction dated Tuesday, June 4th. The shares were sold at an average price of $22.00, for a total transaction of $200,684.00. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Timothy Regan sold 2,000 shares of the stock in a transaction dated Wednesday, March 20th. The stock was sold at an average price of $22.34, for a total transaction of $44,680.00. The disclosure for this sale can be found here. Insiders sold 108,830 shares of company stock worth $2,447,065 over the last 90 days. 31.20% of the stock is currently owned by corporate insiders.
NASDAQ DBX traded down $0.59 during trading on Friday, reaching $23.46. 4,395,948 shares of the stock traded hands, compared to its average volume of 3,313,675. The stock has a market cap of $11.23 billion, a P/E ratio of -17.91 and a beta of 1.32. The company has a debt-to-equity ratio of 0.78, a quick ratio of 1.16 and a current ratio of 1.16. Dropbox Inc has a fifty-two week low of $18.50 and a fifty-two week high of $43.50.
Dropbox (NASDAQ:DBX) last announced its earnings results on Thursday, May 9th. The company reported ($0.01) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.06) by $0.05. The business had revenue of $385.60 million during the quarter, compared to analysts’ expectations of $381.58 million. Dropbox had a negative net margin of 1.85% and a negative return on equity of 3.50%. The firm’s revenue was up 21.9% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.08 earnings per share. Analysts predict that Dropbox Inc will post -0.12 earnings per share for the current fiscal year.
Several equities analysts recently issued reports on the stock. Jefferies Financial Group cut their price target on shares of Dropbox to $32.00 in a report on Friday, February 22nd. Zacks Investment Research raised shares of Dropbox from a “hold” rating to a “buy” rating and set a $29.00 price target for the company in a report on Friday, February 22nd. Finally, Bank of America raised shares of Dropbox from a “neutral” rating to a “buy” rating and set a $33.00 target price for the company in a research note on Friday, February 22nd. Three equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus price target of $31.71.
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Dropbox, Inc provides a collaboration platform worldwide. Its platform allows individuals, 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. The company has approximately 500 million registered users across 180 countries.
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