Pictet Asset Management Holding SA Has $1.05 Million Holdings in Dropbox, Inc. (NASDAQ:DBX)

Pictet Asset Management Holding SA grew its position in Dropbox, Inc. (NASDAQ:DBX) by 10.5% in the fourth quarter, Holdings Channel.com reports. The fund owned 34,810 shares of the company’s stock after buying an additional 3,297 shares during the period. Pictet Asset Management Holding SA’s holdings in Dropbox were worth $1,046,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently bought and sold shares of DBX. EverSource Wealth Advisors LLC increased its holdings in shares of Dropbox by 96.1% during the fourth quarter. EverSource Wealth Advisors LLC now owns 865 shares of the company’s stock worth $26,000 after buying an additional 424 shares in the last quarter. Avion Wealth raised its position in Dropbox by 4,472.7% in the 4th quarter. Avion Wealth now owns 1,006 shares of the company’s stock valued at $30,000 after purchasing an additional 984 shares during the last quarter. SBI Securities Co. Ltd. acquired a new position in Dropbox in the fourth quarter worth $40,000. Allworth Financial LP grew its holdings in shares of Dropbox by 33.5% during the fourth quarter. Allworth Financial LP now owns 1,456 shares of the company’s stock worth $45,000 after purchasing an additional 365 shares during the last quarter. Finally, V Square Quantitative Management LLC increased its stake in shares of Dropbox by 39.0% in the fourth quarter. V Square Quantitative Management LLC now owns 1,717 shares of the company’s stock valued at $52,000 after buying an additional 482 shares in the last quarter. 94.84% of the stock is owned by institutional investors.

Insider Activity at Dropbox

In related news, insider Eric Cox sold 3,765 shares of the business’s stock in a transaction that occurred on Thursday, February 27th. The stock was sold at an average price of $26.30, for a total transaction of $99,019.50. Following the transaction, the insider now directly owns 309,550 shares of the company’s stock, valued at approximately $8,141,165. The trade was a 1.20 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Timothy Regan sold 2,500 shares of the stock in a transaction dated Friday, March 28th. The shares were sold at an average price of $26.57, for a total transaction of $66,425.00. Following the completion of the transaction, the chief financial officer now directly owns 367,791 shares in the company, valued at $9,772,206.87. The trade was a 0.68 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 94,264 shares of company stock valued at $2,895,324. 28.59% of the stock is owned by insiders.

Wall Street Analyst Weigh In

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

Dropbox Stock Down 5.1 %

Shares of NASDAQ DBX opened at $25.45 on Monday. The stock has a market cap of $7.68 billion, a price-to-earnings ratio of 18.05, a P/E/G ratio of 1.70 and a beta of 0.75. Dropbox, Inc. has a twelve month low of $20.68 and a twelve month high of $33.33. The company’s fifty day moving average is $28.59 and its 200-day moving average is $28.17.

Dropbox (NASDAQ:DBX) last issued its quarterly earnings data on Thursday, February 20th. The company reported $0.51 EPS for the quarter, missing analysts’ consensus estimates of $0.62 by ($0.11). The company had revenue of $643.60 million for the quarter, compared to analyst estimates of $638.61 million. Dropbox had a negative return on equity of 132.63% and a net margin of 17.75%. On average, research analysts anticipate that Dropbox, Inc. will post 1.64 EPS for the current fiscal 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.