Swiss National Bank Has $23.85 Million Stock Position in Dropbox, Inc. (NASDAQ:DBX)

Swiss National Bank lessened its holdings in Dropbox, Inc. (NASDAQ:DBX) by 3.1% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 808,900 shares of the company’s stock after selling 25,800 shares during the quarter. Swiss National Bank owned 0.23% of Dropbox worth $23,846,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of DBX. Stratos Wealth Partners LTD. increased its position in shares of Dropbox by 1.8% during the fourth quarter. Stratos Wealth Partners LTD. now owns 23,086 shares of the company’s stock worth $681,000 after buying an additional 415 shares during the period. iA Global Asset Management Inc. grew its position in shares of Dropbox by 6.1% during the 3rd quarter. iA Global Asset Management Inc. now owns 7,207 shares of the company’s stock worth $196,000 after buying an additional 417 shares during the period. Daiwa Securities Group Inc. increased its stake in shares of Dropbox by 2.7% in the 3rd quarter. Daiwa Securities Group Inc. now owns 19,167 shares of the company’s stock valued at $522,000 after acquiring an additional 500 shares in the last quarter. Arizona State Retirement System lifted its position in shares of Dropbox by 0.7% during the 4th quarter. Arizona State Retirement System now owns 71,322 shares of the company’s stock valued at $2,103,000 after acquiring an additional 524 shares during the period. Finally, Cerity Partners LLC boosted its stake in Dropbox by 0.7% during the fourth quarter. Cerity Partners LLC now owns 79,052 shares of the company’s stock worth $2,330,000 after acquiring an additional 565 shares in the last quarter. Institutional investors own 94.84% of the company’s stock.

Dropbox Stock Performance

NASDAQ:DBX opened at $23.32 on Thursday. Dropbox, Inc. has a 52 week low of $21.19 and a 52 week high of $33.43. The firm has a 50-day moving average price of $23.74 and a two-hundred day moving average price of $27.07. The firm has a market cap of $8.02 billion, a price-to-earnings ratio of 17.67, a price-to-earnings-growth ratio of 2.62 and a beta of 0.70.

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

Insider Activity at Dropbox

In other news, CEO Andrew Houston sold 82,000 shares of the firm’s stock in a transaction that occurred on Wednesday, May 1st. The shares were sold at an average price of $23.44, for a total transaction of $1,922,080.00. Following the completion of the sale, the chief executive officer now owns 8,266,666 shares in the company, valued at approximately $193,770,651.04. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, CEO Andrew Houston sold 82,000 shares of the stock in a transaction on Wednesday, May 1st. The stock was sold at an average price of $23.44, for a total transaction of $1,922,080.00. Following the completion of the transaction, the chief executive officer now owns 8,266,666 shares in the company, valued at approximately $193,770,651.04. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Timothy Regan sold 3,000 shares of the business’s stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $24.02, for a total value of $72,060.00. Following the completion of the sale, the chief financial officer now owns 403,720 shares in the company, valued at $9,697,354.40. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 271,721 shares of company stock worth $6,443,955. 26.40% of the stock is owned by company insiders.

Analyst Ratings Changes

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

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.