Optas LLC Invests $203,000 in Dropbox, Inc. (NASDAQ:DBX)

Optas LLC purchased a new stake in shares of Dropbox, Inc. (NASDAQ:DBX) in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm purchased 6,746 shares of the company’s stock, valued at approximately $203,000.

Other hedge funds have also bought and sold shares of the company. Capital Performance Advisors LLP bought a new position in shares of Dropbox during the 3rd quarter valued at approximately $28,000. V Square Quantitative Management LLC bought a new position in Dropbox during the third quarter valued at $31,000. UMB Bank n.a. increased its position in Dropbox by 2,479.4% in the third quarter. UMB Bank n.a. now owns 1,754 shares of the company’s stock worth $45,000 after buying an additional 1,686 shares during the last quarter. Fifth Third Bancorp increased its position in Dropbox by 35.6% in the fourth quarter. Fifth Third Bancorp now owns 1,798 shares of the company’s stock worth $54,000 after buying an additional 472 shares during the last quarter. Finally, Quarry LP raised its stake in shares of Dropbox by 23.4% in the third quarter. Quarry LP now owns 2,424 shares of the company’s stock valued at $62,000 after buying an additional 459 shares during the period. 94.84% of the stock is currently owned by institutional investors.

Insider Activity

In other Dropbox news, CFO Timothy Regan sold 2,500 shares of the firm’s stock in a transaction dated Thursday, January 30th. The stock was sold at an average price of $32.17, for a total value of $80,425.00. Following the sale, the chief financial officer now owns 398,764 shares of the company’s stock, valued at $12,828,237.88. This trade represents a 0.62 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Eric Cox sold 2,330 shares of the company’s stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $26.41, for a total transaction of $61,535.30. Following the completion of the transaction, the insider now owns 321,871 shares in the company, valued at approximately $8,500,613.11. This trade represents a 0.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 902,568 shares of company stock worth $26,729,180. 26.40% of the stock is owned by company insiders.

Analyst Ratings Changes

Separately, Jefferies Financial Group lifted their price objective on Dropbox from $27.00 to $30.00 and gave the stock a “hold” rating in a report on Monday, January 6th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $27.50.

Dropbox Price Performance

NASDAQ:DBX opened at $32.38 on Wednesday. The company has a market cap of $10.03 billion, a P/E ratio of 18.72, a P/E/G ratio of 1.63 and a beta of 0.61. Dropbox, Inc. has a 1 year low of $20.68 and a 1 year high of $33.43. The stock’s fifty day moving average price is $30.19 and its two-hundred day moving average price is $26.83.

Dropbox (NASDAQ:DBX) last issued its quarterly earnings data on Thursday, November 7th. The company reported $0.36 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.52 by ($0.16). The company had revenue of $638.80 million for the quarter, compared to analysts’ expectations of $636.93 million. Dropbox had a negative return on equity of 135.85% and a net margin of 22.71%. During the same period last year, the company posted $0.35 EPS. On average, analysts expect that Dropbox, Inc. will post 1.49 earnings per share for the current fiscal year.

Dropbox Company 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.