Dropbox, Inc. (NASDAQ:DBX) Shares Bought by CANADA LIFE ASSURANCE Co

CANADA LIFE ASSURANCE Co raised its holdings in Dropbox, Inc. (NASDAQ:DBX) by 10.6% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 435,928 shares of the company’s stock after buying an additional 41,680 shares during the period. CANADA LIFE ASSURANCE Co owned approximately 0.13% of Dropbox worth $10,591,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of DBX. UniSuper Management Pty Ltd boosted its stake in shares of Dropbox by 94.7% in the 1st quarter. UniSuper Management Pty Ltd now owns 3,700 shares of the company’s stock valued at $90,000 after buying an additional 1,800 shares during the period. Seven Eight Capital LP purchased a new position in Dropbox in the first quarter worth approximately $3,524,000. Edgestream Partners L.P. grew its holdings in Dropbox by 266.6% during the 1st quarter. Edgestream Partners L.P. now owns 98,203 shares of the company’s stock worth $2,386,000 after acquiring an additional 71,419 shares in the last quarter. Ontario Teachers Pension Plan Board increased its position in shares of Dropbox by 64.0% in the 1st quarter. Ontario Teachers Pension Plan Board now owns 75,445 shares of the company’s stock valued at $1,833,000 after purchasing an additional 29,436 shares during the last quarter. Finally, Acadian Asset Management LLC raised its holdings in shares of Dropbox by 18.7% in the 1st quarter. Acadian Asset Management LLC now owns 3,279,401 shares of the company’s stock valued at $79,664,000 after purchasing an additional 517,052 shares in the last quarter. Institutional investors and hedge funds own 94.84% of the company’s stock.

Dropbox Price Performance

NASDAQ DBX opened at $24.00 on Friday. The company has a fifty day moving average of $22.38 and a two-hundred day moving average of $24.94. The company has a market capitalization of $7.92 billion, a PE ratio of 15.89, a P/E/G ratio of 1.63 and a beta of 0.65. Dropbox, Inc. has a 1 year low of $20.68 and a 1 year high of $33.43.

Dropbox (NASDAQ:DBX) last announced its earnings results on Thursday, May 9th. The company reported $0.41 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.28 by $0.13. The firm had revenue of $631.30 million during the quarter, compared to analysts’ expectations of $628.81 million. Dropbox had a negative return on equity of 148.13% and a net margin of 20.50%. On average, research analysts expect that Dropbox, Inc. will post 1.26 earnings per share for the current year.

Insider Activity

In related news, CEO Andrew Houston sold 82,000 shares of the company’s stock in a transaction on Wednesday, May 1st. The shares were sold at an average price of $23.44, for a total value of $1,922,080.00. Following the completion of the sale, the chief executive officer now owns 8,266,666 shares in the company, valued at approximately $193,770,651.04. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, CFO Timothy Regan sold 3,000 shares of the stock in a transaction on Wednesday, May 29th. The stock was sold at an average price of $23.12, for a total transaction of $69,360.00. Following the completion of the sale, the chief financial officer now directly owns 554,122 shares of the company’s stock, valued at $12,811,300.64. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Andrew Houston sold 82,000 shares of Dropbox stock in a transaction dated Wednesday, May 1st. The shares were sold at an average price of $23.44, for a total transaction of $1,922,080.00. Following the completion of the sale, the chief executive officer now directly owns 8,266,666 shares in the company, valued at approximately $193,770,651.04. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 293,536 shares of company stock valued at $6,665,491. 26.40% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Separately, Citigroup lowered their target price on shares of Dropbox from $26.00 to $25.00 and set a “neutral” rating for the company in a research note on Wednesday, June 26th. Three equities research analysts have rated the stock with a sell rating, four have given a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Dropbox has a consensus rating of “Hold” and an average price target of $29.56.

Dropbox Company 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.