Massachusetts Financial Services Co. MA Acquires 128,066 Shares of Dropbox, Inc. (NASDAQ:DBX)

Massachusetts Financial Services Co. MA boosted its holdings in shares of Dropbox, Inc. (NASDAQ:DBX) by 20.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 743,945 shares of the company’s stock after purchasing an additional 128,066 shares during the quarter. Massachusetts Financial Services Co. MA owned about 0.24% of Dropbox worth $22,348,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in the business. Arrowstreet Capital Limited Partnership raised its position in shares of Dropbox by 38.1% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 5,224,864 shares of the company’s stock valued at $156,955,000 after buying an additional 1,440,887 shares during the last quarter. Geode Capital Management LLC lifted its stake in Dropbox by 0.6% in the 3rd quarter. Geode Capital Management LLC now owns 4,366,271 shares of the company’s stock worth $111,368,000 after purchasing an additional 25,893 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in shares of Dropbox by 4.2% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,914,005 shares of the company’s stock valued at $87,537,000 after purchasing an additional 117,767 shares during the last quarter. Retirement Systems of Alabama grew its position in shares of 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 in the last quarter. Finally, Mitsubishi UFJ Trust & Banking Corp increased its holdings in shares of Dropbox by 13.5% in the fourth quarter. Mitsubishi UFJ Trust & Banking Corp now owns 901,459 shares of the company’s stock worth $27,080,000 after purchasing an additional 107,460 shares during the last quarter. 94.84% of the stock is owned by hedge funds and other institutional investors.

Dropbox Stock Down 5.1 %

Dropbox stock opened at $25.45 on Monday. Dropbox, Inc. has a 52-week low of $20.68 and a 52-week high of $33.33. The firm’s fifty day moving average is $28.59 and its 200 day moving average is $28.17. The company has a market cap of $7.68 billion, a price-to-earnings ratio of 18.05, a PEG ratio of 1.70 and a beta of 0.75.

Dropbox (NASDAQ:DBX) last posted 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 business had revenue of $643.60 million during the quarter, compared to the consensus estimate of $638.61 million. On average, equities research analysts anticipate that Dropbox, Inc. will post 1.64 earnings per share for the current fiscal year.

Insider Buying and Selling at Dropbox

In related news, insider Eric Cox sold 3,765 shares of Dropbox stock in a transaction dated Thursday, February 27th. The shares were sold at an average price of $26.30, for a total transaction 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. The trade was a 1.20 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Timothy Regan sold 2,500 shares of the stock in a transaction dated Wednesday, January 15th. The stock was sold at an average price of $30.37, for a total transaction of $75,925.00. Following the completion of the sale, the chief financial officer now directly owns 401,264 shares in the company, valued at $12,186,387.68. This trade represents a 0.62 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 94,264 shares of company stock worth $2,895,324 over the last ninety days. Company insiders own 28.59% of the company’s stock.

Analysts Set New Price Targets

Separately, Jefferies Financial Group boosted 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.

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.