NumerixS Investment Technologies Inc bought a new stake in shares of Dropbox Inc (NASDAQ:DBX) during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 7,100 shares of the company’s stock, valued at approximately $237,000.
Several other large investors also recently made changes to their positions in DBX. BlackRock Inc. purchased a new position in shares of Dropbox during the first quarter valued at approximately $327,409,000. Institutional Venture Management XIII LLC purchased a new position in shares of Dropbox during the first quarter valued at approximately $112,004,000. Baillie Gifford & Co. purchased a new position in shares of Dropbox during the first quarter valued at approximately $68,311,000. Federated Investors Inc. PA purchased a new position in shares of Dropbox during the first quarter valued at approximately $40,573,000. Finally, Massachusetts Financial Services Co. MA bought a new stake in Dropbox during the first quarter worth $37,382,000. 13.82% of the stock is currently owned by institutional investors.
DBX has been the topic of a number of recent analyst reports. Jefferies Financial Group lifted their price target on Dropbox to $37.00 and gave the stock a “buy” rating in a report on Friday, August 10th. Zacks Investment Research upgraded Dropbox from a “hold” rating to a “buy” rating and set a $34.00 price target on the stock in a report on Tuesday, May 22nd. Monness Crespi & Hardt initiated coverage on Dropbox in a report on Monday, August 27th. They set a “neutral” rating on the stock. Royal Bank of Canada upgraded Dropbox from a “sector perform” rating to an “outperform” rating and set a $33.00 price target on the stock in a report on Friday, August 10th. Finally, JPMorgan Chase & Co. lifted their price target on Dropbox to $35.00 and gave the stock an “overweight” rating in a report on Friday, May 11th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and ten have given a buy rating to the stock. The company has a consensus rating of “Buy” and an average target price of $34.29.
Shares of Dropbox stock opened at $26.76 on Friday. Dropbox Inc has a 12 month low of $24.78 and a 12 month high of $43.50. The company has a quick ratio of 1.39, a current ratio of 1.39 and a debt-to-equity ratio of 0.12.
Dropbox (NASDAQ:DBX) last issued its earnings results on Thursday, August 9th. The company reported $0.11 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.06 by $0.05. The firm had revenue of $339.20 million during the quarter, compared to the consensus estimate of $330.90 million. The business’s quarterly revenue was up 27.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.06 earnings per share. sell-side analysts expect that Dropbox Inc will post 0.3 earnings per share for the current year.
In other Dropbox news, CFO Ajay Vashee sold 13,731 shares of the business’s stock in a transaction on Friday, August 24th. The stock was sold at an average price of $27.23, for a total value of $373,895.13. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Andrew Houston sold 61,728 shares of the business’s stock in a transaction on Friday, August 24th. The shares were sold at an average price of $27.16, for a total value of $1,676,532.48. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 304,399 shares of company stock worth $8,282,591.
Dropbox Inc provides a collaboration platform worldwide. Its platform allows individuals, teams, and organizations to create, access, and share content online. The company was formerly known as Evenflow, Inc and changed its name to Dropbox, Inc in October 2009. Dropbox Inc was founded in 2007 and is headquartered in San Francisco, California.
Receive News & Ratings for Dropbox Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Dropbox and related companies with MarketBeat.com's FREE daily email newsletter.