Meeder Asset Management Inc. Buys New Holdings in Dropbox, Inc. $DBX

by · The Cerbat Gem

Meeder Asset Management Inc. purchased a new position in Dropbox, Inc. (NASDAQ:DBX – Free Report) during the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 52,901 shares of the company’s stock, valued at approximately $1,598,000.

A number of other institutional investors also recently bought and sold shares of the business. Bayforest Capital Ltd boosted its holdings in shares of Dropbox by 69.4% in the 3rd quarter. Bayforest Capital Ltd now owns 15,900 shares of the company’s stock valued at $480,000 after acquiring an additional 6,513 shares during the last quarter. Lakewood Asset Management LLC lifted its position in Dropbox by 1.6% during the third quarter. Lakewood Asset Management LLC now owns 44,447 shares of the company’s stock valued at $1,343,000 after purchasing an additional 705 shares during the period. KLP Kapitalforvaltning AS boosted its holdings in Dropbox by 2.9% in the third quarter. KLP Kapitalforvaltning AS now owns 764,100 shares of the company’s stock valued at $23,083,000 after purchasing an additional 21,800 shares during the last quarter. Robeco Institutional Asset Management B.V. boosted its holdings in Dropbox by 2.6% in the third quarter. Robeco Institutional Asset Management B.V. now owns 2,055,276 shares of the company’s stock valued at $62,090,000 after purchasing an additional 52,218 shares during the last quarter. Finally, CWA Asset Management Group LLC grew its position in Dropbox by 11.6% during the 3rd quarter. CWA Asset Management Group LLC now owns 61,593 shares of the company’s stock worth $1,861,000 after purchasing an additional 6,408 shares during the period. 94.84% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Dropbox

In other Dropbox news, CEO Andrew Houston sold 101,167 shares of the business’s stock in a transaction that occurred on Friday, November 14th. The stock was sold at an average price of $30.23, for a total transaction of $3,058,278.41. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CTO Ali Dasdan sold 5,666 shares of the firm’s stock in a transaction that occurred on Tuesday, November 18th. The shares were sold at an average price of $29.19, for a total value of $165,390.54. Following the completion of the transaction, the chief technology officer owned 526,140 shares in the company, valued at approximately $15,358,026.60. This trade represents a 1.07% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 348,018 shares of company stock worth $10,093,774 in the last quarter. Company insiders own 29.95% of the company’s stock.

Dropbox Price Performance

Dropbox stock opened at $27.28 on Monday. The stock has a market capitalization of $7.06 billion, a PE ratio of 15.41, a price-to-earnings-growth ratio of 2.23 and a beta of 0.62. The business has a 50 day simple moving average of $28.86 and a 200-day simple moving average of $28.76. Dropbox, Inc. has a 12 month low of $24.42 and a 12 month high of $33.33.

Dropbox (NASDAQ:DBX – Get Free Report) last announced its earnings results on Thursday, November 6th. The company reported $0.74 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.64 by $0.10. The firm had revenue of $634.40 million for the quarter, compared to analyst estimates of $623.59 million. Dropbox had a negative return on equity of 49.51% and a net margin of 19.87%.The business’s revenue was down .7% on a year-over-year basis. During the same quarter last year, the firm posted $0.60 EPS. On average, equities research analysts anticipate that Dropbox, Inc. will post 1.64 EPS for the current fiscal year.

Analyst Ratings Changes

Several brokerages have recently issued reports on DBX. Royal Bank Of Canada decreased their price objective on Dropbox from $38.00 to $35.00 and set an “outperform” rating for the company in a report on Monday, January 5th. UBS Group cut Dropbox from a “neutral” rating to a “sell” rating and reduced their price target for the company from $29.00 to $27.00 in a research report on Thursday, September 18th. Wall Street Zen raised shares of Dropbox from a “hold” rating to a “buy” rating in a research note on Saturday, November 8th. Finally, Weiss Ratings reiterated a “hold (c+)” rating on shares of Dropbox in a research note on Wednesday, October 8th. One equities research analyst has rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $31.33.

Read Our Latest Report on DBX

About Dropbox

(Free Report)

Dropbox, Inc (NASDAQ: DBX) is a leading provider of cloud-based file storage, collaboration, and productivity tools. Founded in 2007 and headquartered in San Francisco, California, the company offers a suite of services designed to help individuals and organizations securely store, share, and manage digital content. Dropbox has grown from a simple file-syncing application into an integrated collaboration platform used by millions of customers around the globe.

At its core, Dropbox provides cloud storage plans tailored for consumers and businesses.

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