Skandinaviska Enskilda Banken AB publ Buys 1,585 Shares of Dropbox, Inc. (NASDAQ:DBX)

Skandinaviska Enskilda Banken AB publ boosted its position in shares of Dropbox, Inc. (NASDAQ:DBX) by 3.9% during the fourth quarter, Holdings Channel.com reports. The fund owned 42,638 shares of the company’s stock after acquiring an additional 1,585 shares during the quarter. Skandinaviska Enskilda Banken AB publ’s holdings in Dropbox were worth $1,291,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also added to or reduced their stakes in the company. Pacer Advisors Inc. increased its stake in shares of Dropbox by 4.5% in the third quarter. Pacer Advisors Inc. now owns 7,788,652 shares of the company’s stock worth $198,065,000 after purchasing an additional 333,245 shares in the last quarter. Jacobs Levy Equity Management Inc. increased its stake in Dropbox by 6.2% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 6,239,493 shares of the company’s stock worth $158,670,000 after buying an additional 365,893 shares in the last quarter. Geode Capital Management LLC raised its holdings in Dropbox by 0.6% during the third quarter. Geode Capital Management LLC now owns 4,366,271 shares of the company’s stock valued at $111,368,000 after acquiring an additional 25,893 shares during the period. Charles Schwab Investment Management Inc. lifted its position in shares of Dropbox by 4.2% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,914,005 shares of the company’s stock valued at $87,537,000 after acquiring an additional 117,767 shares in the last quarter. Finally, Retirement Systems of Alabama lifted its position in shares of Dropbox by 15.2% in the third quarter. Retirement Systems of Alabama now owns 944,033 shares of the company’s stock valued at $24,007,000 after acquiring an additional 124,528 shares in the last quarter. Hedge funds and other institutional investors own 94.84% of the company’s stock.

Wall Street Analyst Weigh In

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

Dropbox Stock Performance

Shares of NASDAQ:DBX opened at $26.28 on Tuesday. The firm has a market cap of $7.93 billion, a price-to-earnings ratio of 18.64, a P/E/G ratio of 1.70 and a beta of 0.77. The firm has a fifty day moving average price of $29.61 and a 200 day moving average price of $27.91. Dropbox, Inc. has a fifty-two week low of $20.68 and a fifty-two week high of $33.33.

Dropbox (NASDAQ:DBX) last released its quarterly earnings data on Thursday, February 20th. The company reported $0.51 EPS for the quarter, missing the consensus estimate of $0.62 by ($0.11). Dropbox had a net margin of 17.75% and a negative return on equity of 132.63%. 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.

Insider Buying and Selling at Dropbox

In other Dropbox news, insider Eric Cox sold 3,765 shares of Dropbox 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 completion of the transaction, the insider now directly owns 309,550 shares of the company’s stock, valued at $8,141,165. This trade represents a 1.20 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CEO Andrew Houston sold 500,323 shares of the company’s stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $29.65, for a total transaction of $14,834,576.95. Following the sale, the chief executive officer now owns 8,266,666 shares in the company, valued at $245,106,646.90. This represents a 5.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 634,504 shares of company stock worth $18,935,530 in the last quarter. 28.59% of the stock is owned by corporate insiders.

Dropbox Company 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.