Fjarde AP Fonden Fourth Swedish National Pension Fund trimmed its position in Dropbox Inc (NASDAQ:DBX) by 4.3% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 75,800 shares of the companyâ€™s stock after selling 3,400 shares during the quarter. Fjarde AP Fonden Fourth Swedish National Pension Fundâ€™s holdings in Dropbox were worth $1,529,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently bought and sold shares of the stock. Whittier Trust Co. acquired a new position in shares of Dropbox during the 3rd quarter worth approximately $27,000. Meridian Wealth Management LLC acquired a new position in shares of Dropbox during the 2nd quarter worth approximately $34,000. Glen Harbor Capital Management LLC boosted its holdings in shares of Dropbox by 203.0% during the 2nd quarter. Glen Harbor Capital Management LLC now owns 1,600 shares of the companyâ€™s stock worth $40,000 after purchasing an additional 1,072 shares during the last quarter. CSat Investment Advisory L.P. acquired a new position in shares of Dropbox during the 2nd quarter worth approximately $45,000. Finally, Livforsakringsbolaget Skandia Omsesidigt acquired a new position in shares of Dropbox during the 2nd quarter worth approximately $55,000. Institutional investors own 39.78% of the companyâ€™s stock.
DBX has been the topic of several recent research reports. Royal Bank of Canada dropped coverage on Dropbox in a report on Thursday, September 26th. DA Davidson dropped coverage on Dropbox in a report on Friday, August 9th. Bank of America dropped coverage on Dropbox in a report on Friday, August 9th. Instinet upgraded Dropbox from a â€œneutralâ€ rating to a â€œbuyâ€ rating and boosted their target price for the stock from $18.92 to $25.00 in a report on Tuesday, October 22nd. Finally, Zacks Investment Research upgraded Dropbox from a â€œholdâ€ rating to a â€œbuyâ€ rating and set a $22.00 target price on the stock in a report on Wednesday, October 9th. One research analyst has rated the stock with a sell rating and eleven have assigned a buy rating to the company. Dropbox has an average rating of â€œBuyâ€ and an average target price of $28.10.
DBX stock opened at $19.80 on Friday. The firm has a market cap of $8.63 billion, a PE ratio of -15.11 and a beta of 1.56. The company has a debt-to-equity ratio of 0.99, a quick ratio of 1.18 and a current ratio of 1.18. The firmâ€™s 50 day moving average price is $19.73 and its 200-day moving average price is $21.72. Dropbox Inc has a one year low of $17.20 and a one year high of $27.15.
Dropbox (NASDAQ:DBX) last released its quarterly earnings results on Thursday, November 7th. The company reported $0.13 EPS for the quarter, beating the Thomson Reutersâ€™ consensus estimate of ($0.04) by $0.17. The firm had revenue of $428.20 million for the quarter, compared to analyst estimates of $423.48 million. Dropbox had a negative net margin of 2.91% and a negative return on equity of 6.57%. The businessâ€™s revenue for the quarter was up 18.8% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.11 EPS. Equities research analysts predict that Dropbox Inc will post -0.12 EPS for the current fiscal year.
In other Dropbox news, Director Condoleezza Rice sold 23,943 shares of the businessâ€™s stock in a transaction that occurred on Monday, August 12th. The stock was sold at an average price of $18.38, for a total value of $440,072.34. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CAO Timothy Regan sold 3,000 shares of the businessâ€™s stock in a transaction that occurred on Monday, October 21st. The shares were sold at an average price of $19.46, for a total value of $58,380.00. In the last ninety days, insiders have sold 84,276 shares of company stock worth $1,666,898. Corporate insiders own 31.20% of the companyâ€™s stock.
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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