Nomura Holdings Inc. bought a new stake in Dropbox Inc (NASDAQ:DBX) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 22,500 shares of the company’s stock, valued at approximately $449,000.
A number of other large investors have also bought and sold shares of the stock. Private Advisor Group LLC grew its holdings in shares of Dropbox by 4.7% during the second quarter. Private Advisor Group LLC now owns 12,644 shares of the company’s stock worth $317,000 after purchasing an additional 565 shares during the last quarter. US Bancorp DE grew its holdings in shares of Dropbox by 10.4% during the second quarter. US Bancorp DE now owns 9,517 shares of the company’s stock worth $238,000 after purchasing an additional 900 shares during the last quarter. Glen Harbor Capital Management LLC grew its holdings in shares of Dropbox by 203.0% during the second quarter. Glen Harbor Capital Management LLC now owns 1,600 shares of the company’s stock worth $40,000 after purchasing an additional 1,072 shares during the last quarter. Whittier Trust Co. purchased a new position in shares of Dropbox during the third quarter worth about $27,000. Finally, Tyers Asset Management LLC grew its holdings in shares of Dropbox by 203.0% during the second quarter. Tyers Asset Management LLC now owns 2,200 shares of the company’s stock worth $55,000 after purchasing an additional 1,474 shares during the last quarter. 42.53% of the stock is currently owned by hedge funds and other institutional investors.
Several equities analysts have issued reports on DBX shares. Nomura raised their price objective on Dropbox from $25.00 to $27.00 and gave the stock a “buy” rating in a report on Friday, November 8th. Macquarie dropped coverage on Dropbox in a report on Thursday, September 26th. Zacks Investment Research lowered Dropbox from a “buy” rating to a “hold” rating in a report on Thursday, November 14th. ValuEngine raised Dropbox from a “hold” rating to a “buy” rating in a report on Wednesday, October 2nd. Finally, William Blair reissued a “buy” rating on shares of Dropbox in a report on Tuesday, November 26th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and ten have given a buy rating to the company. Dropbox has an average rating of “Buy” and an average price target of $28.10.
DBX stock opened at $17.72 on Monday. The firm has a 50 day moving average of $18.37 and a 200-day moving average of $20.54. Dropbox Inc has a 12-month low of $16.08 and a 12-month high of $26.49. The company has a current ratio of 1.20, a quick ratio of 1.20 and a debt-to-equity ratio of 0.99. The company has a market cap of $7.38 billion, a price-to-earnings ratio of -13.53 and a beta of 1.50.
Dropbox (NASDAQ:DBX) last posted its quarterly earnings results on Thursday, November 7th. The company reported ($0.02) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.04) by $0.02. Dropbox had a negative net margin of 3.49% and a negative return on equity of 6.82%. The company had revenue of $428.20 million during the quarter, compared to the consensus estimate of $423.48 million. During the same period last year, the firm earned $0.11 EPS. The company’s revenue for the quarter was up 18.8% on a year-over-year basis. Sell-side analysts forecast that Dropbox Inc will post -0.08 earnings per share for the current fiscal year.
In related news, CAO Timothy Regan sold 3,000 shares of Dropbox stock in a transaction that occurred on Monday, October 21st. The stock was sold at an average price of $19.46, for a total transaction of $58,380.00. Also, CTO Quentin Clark sold 8,333 shares of Dropbox stock in a transaction that occurred on Thursday, October 24th. The stock was sold at an average price of $20.06, for a total value of $167,159.98. Over the last quarter, insiders have sold 50,166 shares of company stock valued at $1,018,885. Insiders own 31.20% of the company’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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