NN Investment Partners Holdings N.V. acquired a new position in shares of Dropbox Inc (NASDAQ:DBX) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm acquired 25,673 shares of the company’s stock, valued at approximately $559,000.

Other hedge funds have also recently bought and sold shares of the company. Global Retirement Partners LLC bought a new position in Dropbox during the 2nd quarter worth $33,000. Kistler Tiffany Companies LLC increased its position in Dropbox by 58.8% during the 2nd quarter. Kistler Tiffany Companies LLC now owns 1,501 shares of the company’s stock worth $33,000 after buying an additional 556 shares during the period. Acadian Asset Management LLC bought a new position in Dropbox during the 1st quarter worth $32,000. New York State Teachers Retirement System bought a new position in Dropbox during the 2nd quarter worth $91,000. Finally, PNC Financial Services Group Inc. increased its position in Dropbox by 1,205.1% during the 1st quarter. PNC Financial Services Group Inc. now owns 4,633 shares of the company’s stock worth $83,000 after buying an additional 4,278 shares during the period. Hedge funds and other institutional investors own 47.08% of the company’s stock.

In other news, CAO Timothy Regan sold 2,000 shares of Dropbox stock in a transaction dated Monday, July 20th. The stock was sold at an average price of $21.70, for a total transaction of $43,400.00. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Ajay Vashee sold 13,750 shares of Dropbox stock in a transaction dated Friday, June 26th. The shares were sold at an average price of $21.68, for a total value of $298,100.00. The disclosure for this sale can be found here. Insiders have sold 79,800 shares of company stock worth $1,754,372 over the last three months. Insiders own 30.81% of the company’s stock.

Several research analysts have weighed in on the company. Bank of America cut Dropbox from a “buy” rating to a “neutral” rating and lowered their price objective for the stock from $32.00 to $25.00 in a research report on Friday. TheStreet upgraded Dropbox from a “d” rating to a “c” rating in a research report on Friday, May 8th. Goldman Sachs Group raised their price target on Dropbox from $19.00 to $22.00 and gave the stock a “sell” rating in a research report on Wednesday, June 24th. They noted that the move was a valuation call. Jefferies Financial Group upgraded Dropbox from a “hold” rating to a “buy” rating and raised their price target for the stock from $22.00 to $28.00 in a research report on Monday, July 20th. Finally, Royal Bank of Canada raised their price target on Dropbox from $28.00 to $30.00 and gave the stock an “outperform” rating in a research report on Friday, May 8th. Three research analysts have rated the stock with a sell rating, three have issued a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average price target of $26.86.

NASDAQ:DBX opened at $22.75 on Friday. The stock’s 50-day simple moving average is $21.89 and its 200 day simple moving average is $20.04. The firm has a market capitalization of $9.25 billion, a PE ratio of 447.80, a price-to-earnings-growth ratio of 7.95 and a beta of 0.89. The company has a quick ratio of 1.23, a current ratio of 1.23 and a debt-to-equity ratio of 1.15. Dropbox Inc has a twelve month low of $14.55 and a twelve month high of $24.23.

Dropbox (NASDAQ:DBX) last released its quarterly earnings data on Thursday, May 7th. The company reported $0.17 earnings per share for the quarter, beating the consensus estimate of ($0.02) by $0.19. The business had revenue of $455.00 million for the quarter, compared to analyst estimates of $451.27 million. Dropbox had a positive return on equity of 1.98% and a negative net margin of 0.33%. Dropbox’s revenue was up 18.0% compared to the same quarter last year. During the same period last year, the firm posted $0.10 earnings per share. On average, analysts anticipate that Dropbox Inc will post 0.09 EPS for the current fiscal year.

Dropbox Profile

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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Institutional Ownership by Quarter for Dropbox (NASDAQ:DBX)

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