Elo Mutual Pension Insurance Co Acquires New Position in Dropbox, Inc. (NASDAQ:DBX)

Elo Mutual Pension Insurance Co bought a new position in shares of Dropbox, Inc. (NASDAQ:DBX) during the 4th quarter, Holdings Channel reports. The firm bought 13,421 shares of the company’s stock, valued at approximately $403,000.

A number of other hedge funds also recently added to or reduced their stakes in DBX. KLP Kapitalforvaltning AS acquired a new stake in shares of Dropbox in the 4th quarter worth approximately $25,375,000. Caisse DE Depot ET Placement DU Quebec acquired a new stake in Dropbox in the third quarter valued at $11,687,000. Jacobs Levy Equity Management Inc. grew its holdings in Dropbox by 6.2% in the third quarter. Jacobs Levy Equity Management Inc. now owns 6,239,493 shares of the company’s stock valued at $158,670,000 after purchasing an additional 365,893 shares during the last quarter. WINTON GROUP Ltd purchased a new position in shares of Dropbox in the fourth quarter valued at $5,853,000. Finally, Quantinno Capital Management LP raised its stake in shares of Dropbox by 112.4% during the 3rd quarter. Quantinno Capital Management LP now owns 302,684 shares of the company’s stock worth $7,697,000 after buying an additional 160,152 shares during the last quarter. 94.84% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Dropbox

In related news, CFO Timothy Regan sold 10,000 shares of Dropbox stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $29.65, for a total value of $296,500.00. Following the transaction, the chief financial officer now owns 403,764 shares in the company, valued at approximately $11,971,602.60. This trade represents a 2.42 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Eric Cox sold 3,765 shares of the business’s stock in a transaction dated Thursday, February 27th. The shares were sold at an average price of $26.30, for a total value of $99,019.50. Following the sale, the insider now directly owns 309,550 shares of the company’s stock, valued at approximately $8,141,165. This trade represents a 1.20 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 632,004 shares of company stock worth $18,859,580 in the last 90 days. 28.59% of the stock is owned by company insiders.

Dropbox Trading Down 1.4 %

Shares of DBX stock opened at $26.56 on Monday. The company has a market capitalization of $8.01 billion, a price-to-earnings ratio of 18.84, a PEG ratio of 1.70 and a beta of 0.77. The firm has a 50-day moving average price of $29.03 and a 200 day moving average price of $28.09. Dropbox, Inc. has a twelve month low of $20.68 and a twelve month high of $33.33.

Dropbox (NASDAQ:DBX) last released its earnings results on Thursday, February 20th. The company reported $0.51 EPS for the quarter, missing the consensus estimate of $0.62 by ($0.11). The firm had revenue of $643.60 million during the quarter, compared to analysts’ expectations of $638.61 million. Dropbox had a negative return on equity of 132.63% and a net margin of 17.75%. As a group, research analysts predict that Dropbox, Inc. will post 1.64 earnings per share for the current year.

Analyst Ratings Changes

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

Dropbox 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.