AXQ Capital LP Purchases New Position in Dropbox, Inc. (NASDAQ:DBX)

AXQ Capital LP purchased a new stake in Dropbox, Inc. (NASDAQ:DBX) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm purchased 8,973 shares of the company’s stock, valued at approximately $270,000.

Other large investors have also added to or reduced their stakes in the company. Hillsdale Investment Management Inc. increased its stake in Dropbox by 4.3% in the 4th quarter. Hillsdale Investment Management Inc. now owns 34,200 shares of the company’s stock valued at $1,027,000 after buying an additional 1,400 shares during the last quarter. Teacher Retirement System of Texas increased its stake in Dropbox by 70.7% in the 4th quarter. Teacher Retirement System of Texas now owns 243,626 shares of the company’s stock valued at $7,319,000 after buying an additional 100,886 shares during the last quarter. Harvest Fund Management Co. Ltd purchased a new stake in Dropbox in the 4th quarter valued at about $592,000. Intech Investment Management LLC increased its stake in Dropbox by 185.2% in the 4th quarter. Intech Investment Management LLC now owns 150,488 shares of the company’s stock valued at $4,521,000 after buying an additional 97,725 shares during the last quarter. Finally, Generali Asset Management SPA SGR purchased a new stake in Dropbox in the 4th quarter valued at about $99,000. Institutional investors own 94.84% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Jefferies Financial Group increased their price objective 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.

Insider Transactions at Dropbox

In related news, insider Eric Cox sold 3,765 shares of the firm’s stock in a transaction that occurred 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 approximately $8,141,165. This trade represents a 1.20 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Andrew Houston sold 500,323 shares of the firm’s stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $29.65, for a total transaction of $14,834,576.95. Following the completion of the transaction, the chief executive officer now directly owns 8,266,666 shares of the company’s stock, valued at approximately $245,106,646.90. This trade represents a 5.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 634,504 shares of company stock worth $18,935,530 in the last quarter. Insiders own 28.59% of the company’s stock.

Dropbox Stock Up 0.5 %

Shares of DBX stock opened at $26.50 on Monday. The company has a 50 day moving average of $29.36 and a 200-day moving average of $27.97. Dropbox, Inc. has a 12-month low of $20.68 and a 12-month high of $33.33. The firm has a market cap of $8.00 billion, a P/E ratio of 18.79, a PEG ratio of 1.70 and a beta of 0.77.

Dropbox (NASDAQ:DBX) last issued its quarterly earnings results on Thursday, February 20th. The company reported $0.51 earnings per share (EPS) for the quarter, missing the consensus estimate 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 analysts’ expectations of $638.61 million. As a group, equities analysts expect that Dropbox, Inc. will post 1.64 EPS for the current year.

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.