RHS Financial LLC Buys New Shares in Dropbox, Inc. (NASDAQ:DBX)

RHS Financial LLC bought a new position in Dropbox, Inc. (NASDAQ:DBX) in the fourth quarter, HoldingsChannel reports. The fund bought 7,558 shares of the company’s stock, valued at approximately $227,000.

Several other hedge funds also recently modified their holdings of the business. QRG Capital Management Inc. lifted its holdings in shares of Dropbox by 10.6% during the 3rd quarter. QRG Capital Management Inc. now owns 221,716 shares of the company’s stock worth $5,638,000 after acquiring an additional 21,190 shares during the period. Aigen Investment Management LP acquired a new stake in shares of Dropbox during the 3rd quarter worth approximately $482,000. Retirement Systems of Alabama grew its holdings in Dropbox by 15.2% during the third quarter. Retirement Systems of Alabama now owns 944,033 shares of the company’s stock valued at $24,007,000 after purchasing an additional 124,528 shares during the period. Charles Schwab Investment Management Inc. grew its holdings in Dropbox by 8.9% during the third quarter. Charles Schwab Investment Management Inc. now owns 2,796,238 shares of the company’s stock valued at $71,108,000 after purchasing an additional 228,685 shares during the period. Finally, Robeco Institutional Asset Management B.V. lifted its stake in Dropbox by 6.1% in the third quarter. Robeco Institutional Asset Management B.V. now owns 2,355,762 shares of the company’s stock valued at $59,907,000 after buying an additional 134,503 shares in the last quarter. Institutional investors and hedge funds own 94.84% of the company’s stock.

Insider Activity

In other news, insider Eric Cox sold 2,330 shares of the business’s stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $26.41, for a total transaction of $61,535.30. Following the transaction, the insider now owns 321,871 shares of the company’s stock, valued at approximately $8,500,613.11. The trade was a 0.72 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Andrew Houston sold 80,499 shares of the business’s stock in a transaction on Tuesday, January 21st. The shares were sold at an average price of $30.97, for a total value of $2,493,054.03. Following the transaction, the chief executive officer now owns 8,266,666 shares of the company’s stock, valued at approximately $256,018,646.02. The trade was a 0.96 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 900,068 shares of company stock valued at $26,648,755. Company insiders own 26.40% of the company’s stock.

Dropbox Price Performance

NASDAQ DBX opened at $32.15 on Friday. The stock has a market capitalization of $9.96 billion, a price-to-earnings ratio of 18.58, a PEG ratio of 1.65 and a beta of 0.61. Dropbox, Inc. has a one year low of $20.68 and a one year high of $33.43. The business’s fifty day moving average is $30.04 and its 200-day moving average is $26.66.

Dropbox (NASDAQ:DBX) last posted its earnings results on Thursday, November 7th. The company reported $0.36 earnings per share for the quarter, missing analysts’ consensus estimates of $0.52 by ($0.16). Dropbox had a net margin of 22.71% and a negative return on equity of 135.85%. The company had revenue of $638.80 million for the quarter, compared to analysts’ expectations of $636.93 million. During the same period in the previous year, the firm earned $0.35 EPS. Research analysts expect that Dropbox, Inc. will post 1.49 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Separately, Jefferies Financial Group lifted their price target on shares of Dropbox from $27.00 to $30.00 and gave the company a “hold” rating in a research note on Monday, January 6th. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Dropbox currently has an average rating of “Hold” and a consensus price target of $27.50.

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.