Geode Capital Management LLC grew its stake in Dropbox, Inc. (NASDAQ:DBX) by 34.4% during the second quarter, HoldingsChannel.com reports. The firm owned 5,883,419 shares of the company’s stock after buying an additional 1,504,489 shares during the period. Geode Capital Management LLC’s holdings in Dropbox were worth $178,155,000 at the end of the most recent quarter.
Several other hedge funds also recently bought and sold shares of DBX. Acadian Asset Management LLC lifted its stake in shares of Dropbox by 111.2% in the 1st quarter. Acadian Asset Management LLC now owns 9,750 shares of the company’s stock valued at $260,000 after purchasing an additional 5,134 shares during the period. Mitsubishi UFJ Trust & Banking Corp increased its position in shares of Dropbox by 2.5% in the 1st quarter. Mitsubishi UFJ Trust & Banking Corp now owns 247,371 shares of the company’s stock valued at $6,585,000 after buying an additional 5,946 shares in the last quarter. Sei Investments Co. increased its position in shares of Dropbox by 42.2% in the 1st quarter. Sei Investments Co. now owns 198,598 shares of the company’s stock valued at $5,106,000 after buying an additional 58,966 shares in the last quarter. JPMorgan Chase & Co. increased its position in shares of Dropbox by 356.2% in the 1st quarter. JPMorgan Chase & Co. now owns 1,550,756 shares of the company’s stock valued at $41,344,000 after buying an additional 1,210,822 shares in the last quarter. Finally, Essex Investment Management Co. LLC bought a new stake in shares of Dropbox in the 1st quarter valued at $815,000. 67.21% of the stock is currently owned by institutional investors.
In related news, President Timothy H. Young sold 9,624 shares of the firm’s stock in a transaction dated Friday, September 24th. The shares were sold at an average price of $31.41, for a total value of $302,289.84. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Timothy Regan sold 1,868 shares of the firm’s stock in a transaction dated Monday, July 26th. The shares were sold at an average price of $30.96, for a total transaction of $57,833.28. The disclosure for this sale can be found here. Insiders sold a total of 72,253 shares of company stock valued at $2,234,548 in the last 90 days. 30.81% of the stock is owned by corporate insiders.
DBX stock opened at $28.90 on Thursday. The stock has a 50-day moving average price of $30.75 and a two-hundred day moving average price of $29.12. The stock has a market cap of $11.52 billion, a PE ratio of -68.81 and a beta of 0.92. Dropbox, Inc. has a 1 year low of $17.66 and a 1 year high of $33.00.
Dropbox (NASDAQ:DBX) last released its earnings results on Thursday, August 5th. The company reported $0.40 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.15 by $0.25. The firm had revenue of $530.60 million during the quarter, compared to analysts’ expectations of $524.00 million. Dropbox had a positive return on equity of 108.39% and a negative net margin of 8.73%. On average, equities analysts expect that Dropbox, Inc. will post 0.77 earnings per share for the current year.
Dropbox Company Profile
Dropbox, Inc is a collaboration platform that’s transforming the way people and teams work together. It offers following products: Dropbox Basic, Plus, Professional and Business. The Dropbox Basic is the simple, powerful home for photos, videos, docs, and other files. Its users also get access to new product Dropbox Paper, a collaborative workspace that helps teams create and share early ideas, and work with any type of content, in one centralized place.
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