ING Groep NV Invests $1.22 Million in Dropbox, Inc. $DBX

ING Groep NV acquired a new position in shares of Dropbox, Inc. (NASDAQ:DBX) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 44,000 shares of the company’s stock, valued at approximately $1,223,000.

Several other hedge funds and other institutional investors also recently modified their holdings of DBX. Rossby Financial LCC grew its holdings in shares of Dropbox by 128.5% during the third quarter. Rossby Financial LCC now owns 937 shares of the company’s stock worth $28,000 after purchasing an additional 527 shares in the last quarter. Palisade Asset Management LLC purchased a new position in shares of Dropbox during the third quarter worth about $30,000. Larson Financial Group LLC grew its holdings in shares of Dropbox by 228.0% during the fourth quarter. Larson Financial Group LLC now owns 1,138 shares of the company’s stock worth $32,000 after purchasing an additional 791 shares in the last quarter. Geneos Wealth Management Inc. boosted its stake in Dropbox by 78.0% in the second quarter. Geneos Wealth Management Inc. now owns 1,273 shares of the company’s stock worth $36,000 after buying an additional 558 shares in the last quarter. Finally, Hantz Financial Services Inc. boosted its stake in Dropbox by 342.8% in the third quarter. Hantz Financial Services Inc. now owns 1,448 shares of the company’s stock worth $44,000 after buying an additional 1,121 shares in the last quarter. Hedge funds and other institutional investors own 94.84% of the company’s stock.

Dropbox Price Performance

Shares of DBX opened at $27.43 on Wednesday. The firm has a market cap of $6.40 billion, a P/E ratio of 14.99, a P/E/G ratio of 2.99 and a beta of 0.67. The stock has a 50 day simple moving average of $25.31 and a two-hundred day simple moving average of $26.14. Dropbox, Inc. has a 1 year low of $21.69 and a 1 year high of $32.40.

Dropbox (NASDAQ:DBX) last announced its quarterly earnings data on Thursday, May 7th. The company reported $0.76 earnings per share for the quarter, beating the consensus estimate of $0.71 by $0.05. Dropbox had a negative return on equity of 30.01% and a net margin of 18.71%.The firm had revenue of $629.50 million during the quarter, compared to the consensus estimate of $620.56 million. During the same quarter in the previous year, the company posted $0.70 earnings per share. The business’s revenue was up .8% on a year-over-year basis. On average, equities analysts anticipate that Dropbox, Inc. will post 2.09 earnings per share for the current year.

Insider Transactions at Dropbox

In other Dropbox news, CAO Sarah Elizabeth Schubach sold 1,305 shares of the business’s stock in a transaction that occurred on Monday, June 1st. The stock was sold at an average price of $27.66, for a total value of $36,096.30. Following the completion of the sale, the chief accounting officer owned 129,815 shares in the company, valued at approximately $3,590,682.90. The trade was a 1.00% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Andrew Houston sold 30,332 shares of the business’s stock in a transaction that occurred on Monday, May 18th. The shares were sold at an average price of $27.50, for a total value of $834,130.00. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders have sold 239,883 shares of company stock valued at $6,006,972. Insiders own 35.48% of the company’s stock.

Analyst Ratings Changes

DBX has been the subject of several research reports. Wall Street Zen raised Dropbox from a “hold” rating to a “buy” rating in a research note on Saturday, May 16th. UBS Group cut their target price on Dropbox from $27.00 to $23.00 and set a “sell” rating for the company in a research note on Friday, February 20th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Dropbox in a research note on Monday, May 4th. William Blair reaffirmed an “underperform” rating on shares of Dropbox in a research note on Monday, March 23rd. Finally, Royal Bank Of Canada reaffirmed an “outperform” rating on shares of Dropbox in a research note on Monday, June 1st. One analyst has rated the stock with a Buy rating, three have given a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Reduce” and a consensus price target of $27.00.

Dropbox Company Profile

Dropbox, Inc (NASDAQ: DBX) is a leading provider of cloud-based file storage, collaboration, and productivity tools. Founded in 2007 and headquartered in San Francisco, California, the company offers a suite of services designed to help individuals and organizations securely store, share, and manage digital content. Dropbox has grown from a simple file-syncing application into an integrated collaboration platform used by millions of customers around the globe.

At its core, Dropbox provides cloud storage plans tailored for consumers and businesses.