Charles Schwab Investment Management Inc. Grows Stock Holdings in Dropbox, Inc. (NASDAQ:DBX)

Charles Schwab Investment Management Inc. increased its stake in shares of Dropbox, Inc. (NASDAQ:DBX) by 4.2% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 2,914,005 shares of the company’s stock after purchasing an additional 117,767 shares during the period. Charles Schwab Investment Management Inc. owned approximately 0.94% of Dropbox worth $87,537,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently made changes to their positions in the company. Capital Performance Advisors LLP purchased a new position in shares of Dropbox during the third quarter valued at approximately $28,000. Avion Wealth raised its holdings in shares of Dropbox by 4,472.7% during the fourth 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. bought a new stake in Dropbox during the fourth quarter valued at approximately $40,000. Allworth Financial LP grew its position in Dropbox by 33.5% during the fourth quarter. Allworth Financial LP now owns 1,456 shares of the company’s stock valued at $45,000 after buying an additional 365 shares during the period. Finally, V Square Quantitative Management LLC grew its position in Dropbox by 39.0% during 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 during the period. 94.84% of the stock is owned by hedge funds and other institutional investors.

Dropbox Stock Performance

Shares of NASDAQ:DBX opened at $25.60 on Tuesday. The firm has a fifty day moving average price of $30.06 and a 200 day moving average price of $27.88. Dropbox, Inc. has a fifty-two week low of $20.68 and a fifty-two week high of $33.33. The firm has a market cap of $7.72 billion, a price-to-earnings ratio of 18.16, a P/E/G ratio of 1.70 and a beta of 0.77.

Dropbox (NASDAQ:DBX) last issued its earnings results on Thursday, February 20th. The company reported $0.51 earnings per share for the quarter, missing analysts’ consensus estimates of $0.62 by ($0.11). Dropbox had a negative return on equity of 132.63% and a net margin of 17.75%. The company had revenue of $643.60 million for the quarter, compared to the consensus estimate of $638.61 million. As a group, research analysts predict that Dropbox, Inc. will post 1.64 earnings per share for the current year.

Wall Street Analysts Forecast Growth

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

Insider Activity at Dropbox

In other news, insider Eric Cox sold 3,765 shares of the stock in a transaction on Thursday, February 27th. The shares were sold at an average price of $26.30, for a total value of $99,019.50. Following the sale, the insider now owns 309,550 shares of the company’s stock, valued at approximately $8,141,165. This represents a 1.20 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Timothy Regan sold 2,500 shares of the stock in a transaction on Monday, December 30th. The shares were sold at an average price of $30.38, for a total transaction of $75,950.00. Following the completion of the sale, the chief financial officer now directly owns 413,764 shares in the company, valued at approximately $12,570,150.32. This represents a 0.60 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 772,003 shares of company stock valued at $23,067,375 over the last 90 days. 28.59% of the stock is owned by corporate insiders.

Dropbox 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.