Corient Private Wealth LLC Has $798,000 Holdings in Dropbox, Inc. (NASDAQ:DBX)

Corient Private Wealth LLC lifted its position in Dropbox, Inc. (NASDAQ:DBX) by 164.3% in the 4th quarter, Holdings Channel reports. The fund owned 26,585 shares of the company’s stock after buying an additional 16,527 shares during the period. Corient Private Wealth LLC’s holdings in Dropbox were worth $798,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Caisse DE Depot ET Placement DU Quebec purchased a new position in Dropbox during the 3rd quarter valued at about $11,687,000. Jacobs Levy Equity Management Inc. grew its position in Dropbox by 6.2% during the third 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 in the last quarter. Charles Schwab Investment Management Inc. increased its stake in Dropbox by 8.9% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,796,238 shares of the company’s stock valued at $71,108,000 after buying an additional 228,685 shares during the period. Bridgewater Associates LP increased its stake in Dropbox by 37.6% in the 3rd quarter. Bridgewater Associates LP now owns 703,012 shares of the company’s stock valued at $17,878,000 after buying an additional 192,199 shares during the period. Finally, Quantinno Capital Management LP lifted its position in Dropbox by 112.4% in the 3rd quarter. Quantinno Capital Management LP now owns 302,684 shares of the company’s stock worth $7,697,000 after buying an additional 160,152 shares in the last quarter. Institutional investors and hedge funds own 94.84% of the company’s stock.

Analyst Upgrades and Downgrades

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

Dropbox Stock Performance

Shares of NASDAQ DBX opened at $26.93 on Friday. The business has a 50 day simple moving average of $29.11 and a 200 day simple moving average of $28.01. Dropbox, Inc. has a 52 week low of $20.68 and a 52 week high of $33.33. The stock has a market cap of $8.13 billion, a price-to-earnings ratio of 19.10, a PEG ratio of 1.70 and a beta of 0.77.

Dropbox (NASDAQ:DBX) last posted its 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). The business 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, analysts predict that Dropbox, Inc. will post 1.64 EPS for the current year.

Insiders Place Their Bets

In other news, insider Eric Cox sold 3,765 shares of Dropbox 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 of the company’s stock, valued at $8,141,165. This trade represents a 1.20 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Timothy Regan sold 2,500 shares of the company’s stock in a transaction on Friday, February 7th. The stock was sold at an average price of $32.19, for a total transaction of $80,475.00. Following the sale, the chief financial officer now directly owns 396,264 shares of the company’s stock, valued at approximately $12,755,738.16. This represents a 0.63 % 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 over the last three months. 28.59% of the stock is currently owned by insiders.

Dropbox 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.