Ontario Teachers Pension Plan Board Has $1.83 Million Stock Holdings in Dropbox, Inc. (NASDAQ:DBX)

Ontario Teachers Pension Plan Board raised its holdings in Dropbox, Inc. (NASDAQ:DBX) by 64.0% during the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 75,445 shares of the company’s stock after purchasing an additional 29,436 shares during the quarter. Ontario Teachers Pension Plan Board’s holdings in Dropbox were worth $1,833,000 as of its most recent SEC filing.

A number of other large investors have also recently modified their holdings of DBX. LSV Asset Management boosted its holdings in shares of Dropbox by 119.4% during the 4th quarter. LSV Asset Management now owns 3,305,730 shares of the company’s stock valued at $97,453,000 after acquiring an additional 1,799,030 shares in the last quarter. DekaBank Deutsche Girozentrale raised its position in Dropbox by 65.8% during the 4th quarter. DekaBank Deutsche Girozentrale now owns 2,189,593 shares of the company’s stock worth $64,825,000 after purchasing an additional 869,043 shares during the last quarter. Russell Investments Group Ltd. raised its position in Dropbox by 68.2% during the 1st quarter. Russell Investments Group Ltd. now owns 1,949,274 shares of the company’s stock worth $47,397,000 after purchasing an additional 790,191 shares during the last quarter. Norges Bank bought a new position in Dropbox during the 4th quarter worth $19,361,000. Finally, Bank of Nova Scotia raised its position in Dropbox by 7,701.9% during the 4th quarter. Bank of Nova Scotia now owns 618,456 shares of the company’s stock worth $18,231,000 after purchasing an additional 610,529 shares during the last quarter. Institutional investors and hedge funds own 94.84% of the company’s stock.

Dropbox Price Performance

Shares of DBX traded up $0.04 during trading hours on Tuesday, hitting $23.21. The stock had a trading volume of 24,132 shares, compared to its average volume of 4,096,475. The firm has a 50 day simple moving average of $22.40 and a 200-day simple moving average of $25.00. The firm has a market capitalization of $7.66 billion, a P/E ratio of 15.34, a price-to-earnings-growth ratio of 1.60 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 released its quarterly 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. Dropbox had a negative return on equity of 148.13% and a net margin of 20.50%. The business had revenue of $631.30 million during the quarter, compared to the consensus estimate of $628.81 million. Equities analysts predict that Dropbox, Inc. will post 1.26 EPS for the current fiscal year.

Insider Transactions at Dropbox

In related news, insider Eric Cox sold 8,536 shares of Dropbox stock in a transaction that occurred on Monday, June 10th. The shares were sold at an average price of $21.27, for a total value of $181,560.72. Following the sale, the insider now owns 350,471 shares of the company’s stock, valued at approximately $7,454,518.17. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Dropbox news, CEO Andrew Houston sold 82,000 shares of the business’s stock in a transaction on 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 sale, the chief executive officer now owns 8,266,666 shares of the company’s stock, valued at approximately $193,770,651.04. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Eric Cox sold 8,536 shares of the business’s stock in a transaction on Monday, June 10th. The shares were sold at an average price of $21.27, for a total transaction of $181,560.72. Following the sale, the insider now directly owns 350,471 shares in the company, valued at approximately $7,454,518.17. The disclosure for this sale can be found here. Insiders have sold 293,536 shares of company stock worth $6,665,491 in the last 90 days. Insiders own 26.40% of the company’s stock.

Analysts Set New Price Targets

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

About Dropbox

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.