Dropbox, Inc. $DBX Shares Purchased by Massachusetts Financial Services Co. MA

Massachusetts Financial Services Co. MA raised its holdings in Dropbox, Inc. (NASDAQ:DBX) by 34.7% in the 3rd quarter, according to its most recent 13F filing with the SEC. The fund owned 1,312,798 shares of the company’s stock after acquiring an additional 337,829 shares during the period. Massachusetts Financial Services Co. MA owned 0.49% of Dropbox worth $39,660,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new stake in shares of Dropbox in the second quarter valued at $56,911,000. Norges Bank acquired a new position in shares of Dropbox in the 2nd quarter valued at $51,307,000. LSV Asset Management raised its position in shares of Dropbox by 10.2% in the 2nd quarter. LSV Asset Management now owns 8,408,502 shares of the company’s stock worth $240,483,000 after buying an additional 774,986 shares during the period. Arrowstreet Capital Limited Partnership lifted its stake in shares of Dropbox by 10.0% in the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 6,662,161 shares of the company’s stock valued at $190,538,000 after purchasing an additional 605,258 shares in the last quarter. Finally, Quantinno Capital Management LP increased its position in Dropbox by 65.2% during the 2nd quarter. Quantinno Capital Management LP now owns 1,178,038 shares of the company’s stock worth $33,692,000 after purchasing an additional 465,109 shares in the last quarter. Hedge funds and other institutional investors own 94.84% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently commented on the company. Wall Street Zen upgraded Dropbox from a “hold” rating to a “buy” rating in a report on Saturday, November 8th. Royal Bank Of Canada dropped their price target on shares of Dropbox from $38.00 to $35.00 and set an “outperform” rating for the company in a research note on Monday, January 5th. Finally, Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Dropbox in a report on Wednesday, October 8th. One analyst has rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $31.33.

Dropbox Stock Performance

Shares of DBX stock opened at $26.05 on Thursday. Dropbox, Inc. has a 1 year low of $24.42 and a 1 year high of $33.33. The firm has a market capitalization of $6.74 billion, a PE ratio of 14.72, a price-to-earnings-growth ratio of 2.08 and a beta of 0.62. The stock has a fifty day moving average of $28.29 and a two-hundred day moving average of $28.67.

Dropbox (NASDAQ:DBX) last issued its quarterly earnings results on Thursday, November 6th. The company reported $0.74 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.64 by $0.10. The firm had revenue of $634.40 million during the quarter, compared to analyst estimates of $623.59 million. Dropbox had a negative return on equity of 49.51% and a net margin of 19.87%.The firm’s quarterly revenue was down .7% on a year-over-year basis. During the same period last year, the company posted $0.60 EPS. Equities research analysts predict that Dropbox, Inc. will post 1.64 earnings per share for the current fiscal year.

Insider Activity at Dropbox

In other news, CAO Sarah Elizabeth Schubach sold 1,168 shares of Dropbox stock in a transaction dated Thursday, January 15th. The stock was sold at an average price of $26.84, for a total transaction of $31,349.12. Following the completion of the sale, the chief accounting officer directly owned 92,702 shares in the company, valued at $2,488,121.68. The trade was a 1.24% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Timothy Regan sold 1,500 shares of the firm’s stock in a transaction that occurred on Friday, November 28th. The shares were sold at an average price of $29.64, for a total transaction of $44,460.00. Following the transaction, the chief financial officer directly owned 439,147 shares in the company, valued at approximately $13,016,317.08. The trade was a 0.34% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 406,620 shares of company stock worth $11,703,370. Corporate insiders own 29.95% of the company’s stock.

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.