Hillsdale Investment Management Inc. Buys 1,400 Shares of Dropbox, Inc. (NASDAQ:DBX)

Hillsdale Investment Management Inc. boosted its position in shares of Dropbox, Inc. (NASDAQ:DBX) by 4.3% during the fourth quarter, Holdings Channel.com reports. The fund owned 34,200 shares of the company’s stock after acquiring an additional 1,400 shares during the quarter. Hillsdale Investment Management Inc.’s holdings in Dropbox were worth $1,027,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently modified their holdings of DBX. Teacher Retirement System of Texas boosted its holdings in shares of Dropbox by 70.7% during the 4th quarter. Teacher Retirement System of Texas now owns 243,626 shares of the company’s stock valued at $7,319,000 after purchasing an additional 100,886 shares during the last quarter. Harvest Fund Management Co. Ltd bought a new position in Dropbox during the fourth quarter valued at $592,000. Intech Investment Management LLC raised its stake in shares of Dropbox by 185.2% in the fourth quarter. Intech Investment Management LLC now owns 150,488 shares of the company’s stock valued at $4,521,000 after acquiring an additional 97,725 shares during the period. Generali Asset Management SPA SGR bought a new stake in shares of Dropbox in the 4th quarter worth about $99,000. Finally, Corient Private Wealth LLC lifted its holdings in shares of Dropbox by 164.3% in the 4th quarter. Corient Private Wealth LLC now owns 26,585 shares of the company’s stock worth $798,000 after acquiring an additional 16,527 shares during the last quarter. Hedge funds and other institutional investors own 94.84% of the company’s stock.

Dropbox Trading Up 0.5 %

NASDAQ:DBX opened at $26.50 on Monday. The company has a market cap of $8.00 billion, a price-to-earnings ratio of 18.79, a price-to-earnings-growth ratio of 1.70 and a beta of 0.77. Dropbox, Inc. has a twelve month low of $20.68 and a twelve month high of $33.33. The stock has a fifty day simple moving average of $29.36 and a 200-day simple moving average of $27.97.

Dropbox (NASDAQ:DBX) last issued 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). The firm had revenue of $643.60 million for the quarter, compared to the consensus estimate of $638.61 million. Dropbox had a net margin of 17.75% and a negative return on equity of 132.63%. As a group, equities research analysts predict that Dropbox, Inc. will post 1.64 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, CFO Timothy Regan sold 2,500 shares of the stock in a transaction that occurred on Monday, December 30th. The shares were sold at an average price of $30.38, for a total value of $75,950.00. Following the completion of the transaction, the chief financial officer now directly owns 413,764 shares of the company’s stock, valued at $12,570,150.32. This trade represents a 0.60 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Eric Cox sold 3,765 shares of the firm’s stock in a transaction on Thursday, February 27th. The stock was 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. This represents a 1.20 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 634,504 shares of company stock worth $18,935,530 over the last 90 days. Company insiders own 28.59% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Jefferies Financial Group increased their price objective on shares of Dropbox from $27.00 to $30.00 and gave the stock a “hold” rating in a research report on Monday, January 6th.

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.