Allianz Asset Management GmbH bought a new stake in shares of Dropbox Inc (NASDAQ:DBX) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund bought 9,945 shares of the company’s stock, valued at approximately $249,000.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in DBX. Geode Capital Management LLC lifted its stake in shares of Dropbox by 87.7% during the 4th quarter. Geode Capital Management LLC now owns 704,904 shares of the company’s stock valued at $14,401,000 after buying an additional 329,323 shares in the last quarter. Bank of Montreal Can lifted its stake in shares of Dropbox by 266.1% during the 1st quarter. Bank of Montreal Can now owns 55,030 shares of the company’s stock valued at $1,200,000 after buying an additional 40,000 shares in the last quarter. California Public Employees Retirement System lifted its stake in Dropbox by 45.6% in the 1st quarter. California Public Employees Retirement System now owns 147,103 shares of the company’s stock worth $3,207,000 after purchasing an additional 46,100 shares in the last quarter. Stephens Inc. AR lifted its stake in Dropbox by 11.1% in the 1st quarter. Stephens Inc. AR now owns 16,075 shares of the company’s stock worth $350,000 after purchasing an additional 1,600 shares in the last quarter. Finally, CIBC Asset Management Inc lifted its stake in Dropbox by 688.5% in the 1st quarter. CIBC Asset Management Inc now owns 109,383 shares of the company’s stock worth $2,385,000 after purchasing an additional 95,510 shares in the last quarter. Institutional investors own 40.40% of the company’s stock.
In other news, Director Condoleezza Rice sold 23,943 shares of the business’s stock in a transaction dated Monday, August 12th. The shares were sold at an average price of $18.38, for a total value of $440,072.34. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CTO Quentin Clark sold 8,333 shares of the business’s stock in a transaction dated Friday, September 6th. The stock was sold at an average price of $19.00, for a total transaction of $158,327.00. Over the last 90 days, insiders sold 85,472 shares of company stock worth $1,915,604. Insiders own 31.20% of the company’s stock.
Shares of DBX stock opened at $20.06 on Friday. The stock has a market cap of $8.29 billion, a P/E ratio of -15.31 and a beta of 1.53. Dropbox Inc has a 52 week low of $17.20 and a 52 week high of $27.35. The company has a quick ratio of 1.18, a current ratio of 1.18 and a debt-to-equity ratio of 0.99. The company’s fifty day simple moving average is $19.74 and its two-hundred day simple moving average is $22.43.
Dropbox (NASDAQ:DBX) last announced its quarterly earnings results on Thursday, August 8th. The company reported $0.10 EPS for the quarter, topping the consensus estimate of ($0.05) by $0.15. The business had revenue of $401.50 million for the quarter, compared to analysts’ expectations of $401.09 million. Dropbox had a negative net margin of 2.91% and a negative return on equity of 6.57%. The business’s quarterly revenue was up 18.4% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.11 EPS. On average, analysts anticipate that Dropbox Inc will post -0.11 EPS for the current fiscal year.
Several analysts have commented on DBX shares. Sanford C. Bernstein started coverage on shares of Dropbox in a research note on Wednesday, August 7th. They issued an “underperform” rating and a $19.00 price target on the stock. Bank of America dropped coverage on shares of Dropbox in a research note on Friday, August 9th. Zacks Investment Research cut shares of Dropbox from a “buy” rating to a “hold” rating in a research note on Wednesday, August 14th. TheStreet cut shares of Dropbox from a “c-” rating to a “d+” rating in a research note on Friday, August 9th. Finally, DA Davidson dropped coverage on shares of Dropbox in a research note on Friday, August 9th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and five have given a buy rating to the company’s stock. Dropbox presently has an average rating of “Hold” and a consensus target price of $28.13.
Dropbox, Inc provides a collaboration platform worldwide. Its platform allows individuals, 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. The company has approximately 500 million registered users across 180 countries.
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