10,293 Shares in Dropbox, Inc. (NASDAQ:DBX) Acquired by Gladius Capital Management LP

Gladius Capital Management LP acquired a new position in shares of Dropbox, Inc. (NASDAQ:DBXGet Rating) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 10,293 shares of the company’s stock, valued at approximately $253,000.

A number of other hedge funds also recently added to or reduced their stakes in DBX. Skandinaviska Enskilda Banken AB publ grew its holdings in Dropbox by 566.6% during the 3rd quarter. Skandinaviska Enskilda Banken AB publ now owns 1,529,592 shares of the company’s stock worth $44,679,000 after acquiring an additional 1,300,119 shares during the last quarter. CWM LLC bought a new stake in Dropbox during the 4th quarter worth approximately $37,000. Mitsubishi UFJ Trust & Banking Corp grew its holdings in Dropbox by 3.3% during the 3rd quarter. Mitsubishi UFJ Trust & Banking Corp now owns 229,693 shares of the company’s stock worth $6,711,000 after acquiring an additional 7,293 shares during the last quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. grew its holdings in Dropbox by 7.8% during the 4th quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 72,079 shares of the company’s stock worth $1,799,000 after acquiring an additional 5,194 shares during the last quarter. Finally, Cambridge Investment Research Advisors Inc. grew its holdings in Dropbox by 2.0% during the 3rd quarter. Cambridge Investment Research Advisors Inc. now owns 26,324 shares of the company’s stock worth $769,000 after acquiring an additional 508 shares during the last quarter. Institutional investors and hedge funds own 61.06% of the company’s stock.

Shares of DBX stock traded down $0.71 on Friday, hitting $21.75. The stock had a trading volume of 2,507,007 shares, compared to its average volume of 2,510,580. The business has a 50 day moving average of $22.42 and a 200 day moving average of $24.55. The stock has a market cap of $8.30 billion, a price-to-earnings ratio of 25.59 and a beta of 0.91. Dropbox, Inc. has a 12-month low of $19.90 and a 12-month high of $33.00.

Dropbox (NASDAQ:DBXGet Rating) last announced its earnings results on Thursday, February 17th. The company reported $0.26 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.20 by $0.06. The company had revenue of $565.50 million during the quarter, compared to the consensus estimate of $557.66 million. Dropbox had a net margin of 15.56% and a negative return on equity of 235.32%. During the same quarter in the prior year, the company posted $0.12 earnings per share. As a group, equities analysts forecast that Dropbox, Inc. will post 0.91 earnings per share for the current year.

A number of equities research analysts have recently commented on the stock. JMP Securities reduced their price objective on shares of Dropbox from $39.00 to $30.00 in a research note on Friday, February 18th. William Blair reaffirmed an “outperform” rating on shares of Dropbox in a research note on Friday, February 18th. Finally, Zacks Investment Research lowered shares of Dropbox from a “buy” rating to a “sell” rating in a research note on Monday, February 28th. Two investment analysts have rated the stock with a sell rating, one has issued a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $30.83.

In other Dropbox news, President Timothy H. Young sold 12,750 shares of the stock in a transaction dated Monday, April 25th. The shares were sold at an average price of $22.34, for a total transaction of $284,835.00. Following the completion of the transaction, the president now owns 1,878,877 shares in the company, valued at $41,974,112.18. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Timothy Regan sold 2,500 shares of the stock in a transaction dated Friday, March 25th. The stock was sold at an average price of $23.23, for a total transaction of $58,075.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 66,250 shares of company stock valued at $1,456,778. 25.05% of the stock is owned by company insiders.

Dropbox Profile (Get Rating)

Dropbox, Inc provides a content collaboration platform worldwide. Its 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. As of December 31, 2021, the company had approximately 700 million registered users.

Further Reading

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Institutional Ownership by Quarter for Dropbox (NASDAQ:DBX)

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