Headlands Technologies LLC Raises Position in Dropbox, Inc. (NASDAQ:DBX)

Headlands Technologies LLC grew its position in Dropbox, Inc. (NASDAQ:DBX) by 92.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 72,805 shares of the company’s stock after purchasing an additional 35,005 shares during the quarter. Headlands Technologies LLC’s holdings in Dropbox were worth $2,187,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also bought and sold shares of DBX. Allworth Financial LP lifted its position in shares of Dropbox by 33.5% in the fourth quarter. Allworth Financial LP now owns 1,456 shares of the company’s stock worth $45,000 after buying an additional 365 shares in the last quarter. Heron Bay Capital Management grew its holdings in Dropbox by 2.3% during the 4th quarter. Heron Bay Capital Management now owns 16,769 shares of the company’s stock valued at $504,000 after purchasing an additional 378 shares during the last quarter. EverSource Wealth Advisors LLC raised its holdings in shares of Dropbox by 96.1% in the fourth quarter. EverSource Wealth Advisors LLC now owns 865 shares of the company’s stock worth $26,000 after buying an additional 424 shares during the period. Quarry LP boosted its stake in shares of Dropbox by 23.4% during the third quarter. Quarry LP now owns 2,424 shares of the company’s stock valued at $62,000 after purchasing an additional 459 shares during the period. Finally, Aaron Wealth Advisors LLC grew its stake in Dropbox by 4.8% in the 4th quarter. Aaron Wealth Advisors LLC now owns 10,151 shares of the company’s stock worth $305,000 after acquiring an additional 461 shares in the last quarter. Hedge funds and other institutional investors own 94.84% of the company’s stock.

Analyst Ratings Changes

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

Dropbox Stock Up 1.8 %

Shares of NASDAQ DBX opened at $27.18 on Wednesday. The business’s 50 day moving average is $28.87 and its two-hundred day moving average is $28.13. Dropbox, Inc. has a 52-week low of $20.68 and a 52-week high of $33.33. The firm has a market cap of $8.20 billion, a price-to-earnings ratio of 19.28, a PEG ratio of 1.70 and a beta of 0.77.

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

Insider Activity at Dropbox

In other news, CFO Timothy Regan sold 10,000 shares of the business’s stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $29.65, for a total value of $296,500.00. Following the completion of the transaction, the chief financial officer now owns 403,764 shares of the company’s stock, valued at $11,971,602.60. The trade was a 2.42 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Andrew Houston sold 500,323 shares of the stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $29.65, for a total transaction of $14,834,576.95. Following the transaction, the chief executive officer now directly owns 8,266,666 shares in the company, valued at approximately $245,106,646.90. This represents a 5.71 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 634,504 shares of company stock worth $18,926,005 in the last quarter. Company insiders own 28.59% of the company’s stock.

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.