Pictet Asset Management Holding SA Grows Position in Dropbox, Inc. $DBX

Pictet Asset Management Holding SA grew its holdings in shares of Dropbox, Inc. (NASDAQ:DBX) by 317.2% in the fourth quarter, HoldingsChannel.com reports. The fund owned 125,144 shares of the company’s stock after purchasing an additional 95,146 shares during the period. Pictet Asset Management Holding SA’s holdings in Dropbox were worth $3,479,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. LSV Asset Management raised its stake in Dropbox by 38.1% in the third quarter. LSV Asset Management now owns 11,613,642 shares of the company’s stock valued at $350,848,000 after purchasing an additional 3,205,140 shares in the last quarter. Arrowstreet Capital Limited Partnership lifted its position in Dropbox by 2.2% during the third quarter. Arrowstreet Capital Limited Partnership now owns 6,806,508 shares of the company’s stock valued at $205,625,000 after purchasing an additional 144,347 shares during the last quarter. Jacobs Levy Equity Management Inc. grew its stake in Dropbox by 1.4% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 5,095,485 shares of the company’s stock worth $153,935,000 after buying an additional 70,867 shares in the last quarter. Robeco Institutional Asset Management B.V. grew its stake in Dropbox by 22.5% in the 4th quarter. Robeco Institutional Asset Management B.V. now owns 2,518,534 shares of the company’s stock worth $70,015,000 after buying an additional 463,258 shares in the last quarter. Finally, Northern Trust Corp increased its holdings in shares of Dropbox by 29.1% in the 3rd quarter. Northern Trust Corp now owns 2,488,077 shares of the company’s stock worth $75,165,000 after buying an additional 560,694 shares during the last quarter. Hedge funds and other institutional investors own 94.84% of the company’s stock.

Dropbox Stock Performance

Shares of Dropbox stock opened at $24.93 on Monday. Dropbox, Inc. has a 52-week low of $21.69 and a 52-week high of $32.40. The stock has a market capitalization of $6.01 billion, a price-to-earnings ratio of 13.40, a price-to-earnings-growth ratio of 1.76 and a beta of 0.64. The company has a fifty day moving average of $24.32 and a 200-day moving average of $26.61.

Dropbox (NASDAQ:DBX) last issued its earnings results on Thursday, February 19th. The company reported $0.68 EPS for the quarter, topping analysts’ consensus estimates of $0.66 by $0.02. The company had revenue of $636.20 million for the quarter, compared to analysts’ expectations of $627.83 million. Dropbox had a net margin of 20.17% and a negative return on equity of 37.47%. The firm’s revenue was down 1.1% compared to the same quarter last year. During the same quarter last year, the company earned $0.73 EPS. On average, equities research analysts forecast that Dropbox, Inc. will post 2.03 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CTO Ali Dasdan sold 7,306 shares of the stock in a transaction dated Thursday, February 26th. The stock was sold at an average price of $24.89, for a total transaction of $181,846.34. Following the completion of the sale, the chief technology officer directly owned 499,379 shares in the company, valued at $12,429,543.31. This represents a 1.44% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CAO Sarah Elizabeth Schubach sold 1,416 shares of the firm’s stock in a transaction that occurred on Wednesday, February 18th. The stock was sold at an average price of $24.49, for a total value of $34,677.84. Following the transaction, the chief accounting officer owned 86,319 shares in the company, valued at approximately $2,113,952.31. The trade was a 1.61% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 247,519 shares of company stock valued at $5,952,284 over the last three months. 35.48% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several research firms have recently weighed in on DBX. JPMorgan Chase & Co. lowered their price objective on shares of Dropbox from $29.00 to $25.00 and set a “neutral” rating on the stock in a research report on Friday, February 20th. UBS Group cut their target price 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. William Blair reissued an “underperform” rating on shares of Dropbox in a research note on Monday, March 23rd. Royal Bank Of Canada lowered their price target on Dropbox from $35.00 to $30.00 and set an “outperform” rating on the stock in a research report on Friday, February 20th. Finally, Wall Street Zen cut Dropbox from a “buy” rating to a “hold” rating in a report on Friday, January 23rd. One equities research analyst has rated the stock with a Buy rating, three have given a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Reduce” and an average target price of $27.50.

Dropbox 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.