Dropbox, Inc. $DBX Stake Boosted by Robeco Institutional Asset Management B.V.

Robeco Institutional Asset Management B.V. increased its position in shares of Dropbox, Inc. (NASDAQ:DBX – Free Report) by 22.5% during the 4th quarter, HoldingsChannel.com reports. The firm owned 2,518,534 shares of the company’s stock after purchasing an additional 463,258 shares during the period. Robeco Institutional Asset Management B.V.’s holdings in Dropbox were worth $70,015,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently added to or reduced their stakes in the company. Empowered Funds LLC lifted its stake in Dropbox by 7.3% in the first quarter. Empowered Funds LLC now owns 38,795 shares of the company’s stock valued at $1,036,000 after buying an additional 2,655 shares during the last quarter. Cetera Investment Advisers lifted its stake in Dropbox by 10.8% in the second quarter. Cetera Investment Advisers now owns 24,623 shares of the company’s stock valued at $704,000 after buying an additional 2,405 shares during the last quarter. EverSource Wealth Advisors LLC lifted its stake in Dropbox by 88.0% in the second quarter. EverSource Wealth Advisors LLC now owns 1,681 shares of the company’s stock valued at $48,000 after buying an additional 787 shares during the last quarter. Cresset Asset Management LLC lifted its stake in Dropbox by 75.8% in the second quarter. Cresset Asset Management LLC now owns 15,230 shares of the company’s stock valued at $436,000 after buying an additional 6,569 shares during the last quarter. Finally, Federated Hermes Inc. lifted its stake in Dropbox by 360.9% in the second quarter. Federated Hermes Inc. now owns 117,852 shares of the company’s stock valued at $3,371,000 after buying an additional 92,280 shares during the last quarter. 94.84% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

DBX has been the topic of a number of recent research reports. Royal Bank Of Canada cut their target price on Dropbox from $35.00 to $30.00 and set an “outperform” rating on the stock in a research note on Friday, February 20th. Weiss Ratings reissued a “hold (c+)” rating on shares of Dropbox in a report on Wednesday, January 21st. JPMorgan Chase & Co. lowered their price target on Dropbox from $29.00 to $25.00 and set a “neutral” rating on the stock in a report on Friday, February 20th. Wall Street Zen lowered Dropbox from a “buy” rating to a “hold” rating in a report on Friday, January 23rd. Finally, UBS Group lowered their price target on Dropbox from $27.00 to $23.00 and set a “sell” rating on the stock in a report on Friday, February 20th. One analyst has rated the stock with a Buy rating, three have issued a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat.com, Dropbox currently has an average rating of “Reduce” and an average target price of $27.50.

Get Our Latest Stock Analysis on Dropbox

Insider Transactions at Dropbox

In related news, CTO Ali Dasdan sold 7,306 shares of Dropbox 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 transaction, the chief technology officer directly owned 499,379 shares of the company’s stock, valued at $12,429,543.31. The trade was a 1.44% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Andrew Houston sold 164,502 shares of Dropbox stock in a transaction dated Monday, February 2nd. The stock was sold at an average price of $25.66, for a total value of $4,221,121.32. The disclosure for this sale is available in the SEC filing. Insiders sold 411,774 shares of company stock valued at $10,172,224 in the last three months. 28.59% of the stock is currently owned by insiders.

Dropbox Price Performance

NASDAQ:DBX opened at $22.06 on Monday. The business’s 50-day moving average price is $24.55 and its 200 day moving average price is $27.17. The firm has a market cap of $5.32 billion, a P/E ratio of 11.86, a PEG ratio of 1.56 and a beta of 0.61. Dropbox, Inc. has a 52-week low of $21.69 and a 52-week high of $32.40.

Dropbox (NASDAQ:DBX – Get Free Report) last released 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. The firm had revenue of $636.20 million for the quarter, compared to analyst estimates of $627.83 million. Dropbox had a negative return on equity of 37.47% and a net margin of 20.17%.Dropbox’s revenue was down 1.1% compared to the same quarter last year. During the same period in the previous year, the company earned $0.73 earnings per share. Sell-side analysts expect that Dropbox, Inc. will post 1.64 EPS for the current year.

Dropbox Profile

(Free Report)

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.

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