Skandinaviska Enskilda Banken AB publ Grows Stock Holdings in Dropbox, Inc. (NASDAQ:DBX)

Skandinaviska Enskilda Banken AB publ increased its stake in Dropbox, Inc. (NASDAQ:DBX) by 3.9% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 42,638 shares of the company’s stock after buying an additional 1,585 shares during the period. Skandinaviska Enskilda Banken AB publ’s holdings in Dropbox were worth $1,291,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in DBX. Caisse DE Depot ET Placement DU Quebec purchased a new stake in shares of Dropbox in the third quarter worth $11,687,000. Jacobs Levy Equity Management Inc. grew its position in Dropbox by 6.2% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 6,239,493 shares of the company’s stock valued at $158,670,000 after purchasing an additional 365,893 shares during the last quarter. Pacer Advisors Inc. increased its stake in Dropbox by 4.5% during the 3rd quarter. Pacer Advisors Inc. now owns 7,788,652 shares of the company’s stock valued at $198,065,000 after purchasing an additional 333,245 shares in the last quarter. Algert Global LLC raised its holdings in Dropbox by 414.9% in the third quarter. Algert Global LLC now owns 365,832 shares of the company’s stock worth $9,303,000 after buying an additional 294,780 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its stake in shares of Dropbox by 8.9% in the third quarter. Charles Schwab Investment Management Inc. now owns 2,796,238 shares of the company’s stock worth $71,108,000 after buying an additional 228,685 shares in the last quarter. Institutional investors own 94.84% of the company’s stock.

Analysts Set New Price Targets

Separately, Jefferies Financial Group boosted their price objective on shares of Dropbox from $27.00 to $30.00 and gave the stock a “hold” rating in a report on Monday, January 6th.

Dropbox Stock Performance

NASDAQ DBX opened at $26.28 on Tuesday. The company has a market capitalization of $7.93 billion, a price-to-earnings ratio of 18.64, a PEG ratio of 1.70 and a beta of 0.77. The stock has a 50-day moving average of $29.61 and a 200 day moving average of $27.91. Dropbox, Inc. has a one year low of $20.68 and a one year high of $33.33.

Dropbox (NASDAQ:DBX) last announced its quarterly earnings results on Thursday, February 20th. The company reported $0.51 EPS for the quarter, missing analysts’ consensus estimates of $0.62 by ($0.11). The company had revenue of $643.60 million during the quarter, compared to the consensus estimate of $638.61 million. Dropbox had a negative return on equity of 132.63% and a net margin of 17.75%. On average, equities analysts predict that Dropbox, Inc. will post 1.64 earnings per share for the current fiscal year.

Insider Activity

In other news, insider Eric Cox sold 3,765 shares of the stock in a transaction that occurred on Thursday, February 27th. The shares were sold at an average price of $26.30, for a total value of $99,019.50. Following the transaction, the insider now owns 309,550 shares in the company, valued at $8,141,165. This represents a 1.20 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Timothy Regan sold 2,500 shares of the business’s stock in a transaction that occurred on Monday, December 30th. The shares were sold at an average price of $30.38, for a total transaction of $75,950.00. Following the sale, the chief financial officer now owns 413,764 shares of the company’s stock, valued at $12,570,150.32. This trade represents a 0.60 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 634,504 shares of company stock valued at $18,935,530 in the last ninety days. 28.59% of the stock is currently owned by company insiders.

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.