Tudor Investment Corp ET AL Has $9.45 Million Holdings in Dropbox, Inc. $DBX

Tudor Investment Corp ET AL raised its position in shares of Dropbox, Inc. (NASDAQ:DBX) by 3,963.5% in the third quarter, according to its most recent filing with the SEC. The firm owned 312,892 shares of the company’s stock after purchasing an additional 305,192 shares during the quarter. Tudor Investment Corp ET AL’s holdings in Dropbox were worth $9,452,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in DBX. Rossby Financial LCC grew its position in shares of Dropbox by 128.5% during the 3rd quarter. Rossby Financial LCC now owns 937 shares of the company’s stock worth $28,000 after buying an additional 527 shares during the period. Palisade Asset Management LLC acquired a new stake in shares of Dropbox during the 3rd quarter worth approximately $30,000. First Horizon Corp acquired a new stake in shares of Dropbox during the 3rd quarter worth approximately $31,000. LRI Investments LLC grew its position in shares of Dropbox by 666.7% during the 3rd quarter. LRI Investments LLC now owns 1,150 shares of the company’s stock worth $35,000 after buying an additional 1,000 shares during the period. Finally, Geneos Wealth Management Inc. grew its position in shares of Dropbox by 78.0% during the 2nd quarter. Geneos Wealth Management Inc. now owns 1,273 shares of the company’s stock worth $36,000 after buying an additional 558 shares during the period. Institutional investors and hedge funds own 94.84% of the company’s stock.

Dropbox Stock Up 1.5%

Shares of DBX opened at $23.75 on Tuesday. Dropbox, Inc. has a 12-month low of $22.00 and a 12-month high of $32.40. The business’s fifty day moving average is $24.82 and its 200 day moving average is $27.40. The stock has a market cap of $5.73 billion, a P/E ratio of 12.77, a P/E/G ratio of 1.65 and a beta of 0.61.

Dropbox (NASDAQ:DBX) last issued its earnings results on Thursday, February 19th. The company reported $0.68 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.66 by $0.02. Dropbox had a negative return on equity of 37.47% and a net margin of 20.17%.The company had revenue of $636.20 million for the quarter, compared to analysts’ expectations of $627.83 million. During the same period last year, the business earned $0.73 EPS. Dropbox’s quarterly revenue was down 1.1% compared to the same quarter last year. On average, analysts expect that Dropbox, Inc. will post 1.64 EPS for the current year.

Insider Transactions at Dropbox

In related news, CEO Andrew Houston sold 164,502 shares of the stock in a transaction on Monday, February 2nd. The stock was sold at an average price of $25.66, for a total value of $4,221,121.32. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CTO Ali Dasdan sold 7,306 shares of the stock in a transaction on Thursday, February 26th. The stock was sold at an average price of $24.89, for a total value of $181,846.34. Following the completion of the transaction, the chief technology officer owned 499,379 shares in the company, valued at approximately $12,429,543.31. This represents a 1.44% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 471,774 shares of company stock valued at $11,823,909 in the last 90 days. 29.95% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several analysts have recently commented on DBX shares. Wall Street Zen downgraded shares of Dropbox from a “buy” rating to a “hold” rating in a research report on Friday, January 23rd. JPMorgan Chase & Co. reduced their price objective on shares of Dropbox from $29.00 to $25.00 and set a “neutral” rating for the company in a research report on Friday, February 20th. Royal Bank Of Canada reduced their price objective on shares of Dropbox from $35.00 to $30.00 and set an “outperform” rating for the company in a research report on Friday, February 20th. William Blair reaffirmed an “underperform” rating on shares of Dropbox in a research report on Monday, March 23rd. Finally, UBS Group reduced their price objective on shares of Dropbox from $27.00 to $23.00 and set a “sell” rating for the company in a research report on Friday, February 20th. One equities research analyst has rated the stock with a Buy rating, three have assigned a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, Dropbox has an average rating of “Reduce” and a consensus target price of $27.50.

Dropbox Company Profile

Dropbox, Inc (NASDAQ: DBX) is a leading provider of cloud-based file storage, collaboration, and productivity tools. Founded in 2007 and headquartered in San Francisco, California, the company offers a suite of services designed to help individuals and organizations securely store, share, and manage digital content. Dropbox has grown from a simple file-syncing application into an integrated collaboration platform used by millions of customers around the globe.

At its core, Dropbox provides cloud storage plans tailored for consumers and businesses.