Skandinaviska Enskilda Banken AB publ Acquires 1,341,062 Shares of Dropbox, Inc. (NASDAQ:DBX)

Skandinaviska Enskilda Banken AB publ boosted its holdings in Dropbox, Inc. (NASDAQ:DBXGet Rating) by 87.7% during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 2,870,654 shares of the company’s stock after acquiring an additional 1,341,062 shares during the quarter. Skandinaviska Enskilda Banken AB publ owned 0.73% of Dropbox worth $70,676,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Morgan Stanley boosted its holdings in Dropbox by 195.6% during the 2nd quarter. Morgan Stanley now owns 1,610,771 shares of the company’s stock valued at $48,822,000 after acquiring an additional 1,065,858 shares during the period. Cambridge Investment Research Advisors Inc. boosted 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 valued at $769,000 after acquiring an additional 508 shares during the period. Raymond James Financial Services Advisors Inc. lifted its holdings in Dropbox by 195.4% in the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 48,557 shares of the company’s stock worth $1,419,000 after buying an additional 32,120 shares during the period. Shell Asset Management Co. lifted its holdings in Dropbox by 68.9% in the 3rd quarter. Shell Asset Management Co. now owns 11,133 shares of the company’s stock worth $325,000 after buying an additional 4,541 shares during the period. Finally, Daiwa Securities Group Inc. raised its position in shares of Dropbox by 30.2% in the 3rd quarter. Daiwa Securities Group Inc. now owns 19,184 shares of the company’s stock worth $561,000 after acquiring an additional 4,453 shares in the last quarter. Hedge funds and other institutional investors own 61.40% of the company’s stock.

DBX has been the subject of a number of analyst reports. JMP Securities reduced their price objective on Dropbox from $39.00 to $30.00 in a research report on Friday, February 18th. William Blair restated an “outperform” rating on shares of Dropbox in a research note on Friday, February 18th. Finally, Zacks Investment Research downgraded Dropbox from a “buy” rating to a “sell” rating in a research report on Monday, February 28th. Two investment analysts have rated the stock with a sell rating, one has assigned a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $30.83.

NASDAQ DBX traded down $0.16 during trading hours on Friday, hitting $21.14. 4,416,951 shares of the company were exchanged, compared to its average volume of 2,571,801. The stock has a 50-day moving average price of $22.42 and a 200 day moving average price of $24.18. Dropbox, Inc. has a 52 week low of $19.90 and a 52 week high of $33.00. The stock has a market cap of $8.07 billion, a PE ratio of 22.49 and a beta of 0.89.

Dropbox (NASDAQ:DBXGet Rating) last announced its earnings results on Thursday, May 5th. The company reported $0.38 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.19 by $0.19. The business had revenue of $562.40 million during the quarter, compared to analyst estimates of $559.09 million. Dropbox had a negative return on equity of 202.00% and a net margin of 16.66%. The company’s revenue for the quarter was up 9.9% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.22 earnings per share. As a group, analysts expect that Dropbox, Inc. will post 0.91 EPS for the current year.

In other Dropbox news, CFO Timothy Regan sold 2,500 shares of the company’s stock in a transaction on Friday, March 25th. The shares were sold at an average price of $23.23, for a total value of $58,075.00. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, President Timothy H. Young sold 12,750 shares of the stock in a transaction dated Thursday, February 24th. The stock was sold at an average price of $20.78, for a total transaction of $264,945.00. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 66,250 shares of company stock worth $1,456,778. Insiders own 25.05% of the company’s stock.

About Dropbox (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.

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Institutional Ownership by Quarter for Dropbox (NASDAQ:DBX)

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