Los Angeles Capital Management LLC Acquires New Holdings in Dropbox, Inc. (NASDAQ:DBX)

Los Angeles Capital Management LLC bought a new position in shares of Dropbox, Inc. (NASDAQ:DBX) in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 9,889 shares of the company’s stock, valued at approximately $240,000.

Several other institutional investors and hedge funds also recently modified their holdings of the business. Strategic Advocates LLC lifted its stake in Dropbox by 18.4% in the 1st quarter. Strategic Advocates LLC now owns 24,023 shares of the company’s stock valued at $584,000 after buying an additional 3,729 shares in the last quarter. B. Riley Wealth Advisors Inc. boosted its stake in shares of Dropbox by 9.7% during the fourth quarter. B. Riley Wealth Advisors Inc. now owns 18,578 shares of the company’s stock valued at $548,000 after acquiring an additional 1,642 shares during the last quarter. Fisher Asset Management LLC increased its position in Dropbox by 11.6% during the 4th quarter. Fisher Asset Management LLC now owns 130,964 shares of the company’s stock worth $3,861,000 after purchasing an additional 13,582 shares in the last quarter. Quarry LP acquired a new position in Dropbox in the 4th quarter valued at about $64,000. Finally, Aurora Investment Counsel lifted its holdings in Dropbox by 1.4% in the 4th quarter. Aurora Investment Counsel now owns 64,622 shares of the company’s stock valued at $1,905,000 after purchasing an additional 902 shares in the last quarter. Hedge funds and other institutional investors own 94.84% of the company’s stock.

Insider Activity at Dropbox

In other Dropbox news, insider Eric Cox sold 8,536 shares of the business’s stock in a transaction that occurred on Monday, June 10th. The shares were sold at an average price of $21.27, for a total transaction of $181,560.72. Following the completion of the sale, the insider now directly owns 350,471 shares in the company, valued at $7,454,518.17. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In related news, CEO Andrew Houston sold 82,000 shares of the firm’s stock in a transaction dated Monday, June 3rd. The stock was sold at an average price of $22.40, for a total transaction of $1,836,800.00. Following the sale, the chief executive officer now directly owns 8,266,666 shares in the company, valued at approximately $185,173,318.40. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Eric Cox sold 8,536 shares of the business’s stock in a transaction that occurred on Monday, June 10th. The stock was sold at an average price of $21.27, for a total value of $181,560.72. Following the transaction, the insider now directly owns 350,471 shares in the company, valued at $7,454,518.17. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 198,218 shares of company stock worth $4,534,619. Company insiders own 26.40% of the company’s stock.

Dropbox Stock Up 2.7 %

NASDAQ:DBX opened at $22.42 on Friday. The company has a market cap of $7.40 billion, a P/E ratio of 14.85, a P/E/G ratio of 1.52 and a beta of 0.68. The firm’s 50 day moving average is $22.70 and its two-hundred day moving average is $25.87. Dropbox, Inc. has a fifty-two week low of $20.68 and a fifty-two week high of $33.43.

Dropbox (NASDAQ:DBX) last issued its earnings results on Thursday, May 9th. The company reported $0.41 earnings per share for the quarter, topping the consensus estimate of $0.28 by $0.13. Dropbox had a negative return on equity of 148.13% and a net margin of 20.50%. The business had revenue of $631.30 million for the quarter, compared to analyst estimates of $628.81 million. Research analysts forecast that Dropbox, Inc. will post 1.26 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Separately, Citigroup cut their price objective on shares of Dropbox from $26.00 to $25.00 and set a “neutral” rating for the company in a research report on Wednesday. Three investment analysts have rated the stock with a sell rating, four have issued a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $29.56.

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.