Partner Fund Management L.P. increased its holdings in shares of Dropbox Inc (NASDAQ:DBX) by 87.5% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,868,767 shares of the company’s stock after buying an additional 1,339,078 shares during the quarter. Partner Fund Management L.P. owned 0.71% of Dropbox worth $76,969,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also modified their holdings of the company. First Hawaiian Bank purchased a new position in shares of Dropbox during the third quarter valued at $118,000. C M Bidwell & Associates Ltd. boosted its position in Dropbox by 85.2% during the third quarter. C M Bidwell & Associates Ltd. now owns 5,085 shares of the company’s stock valued at $136,000 after purchasing an additional 2,340 shares during the last quarter. US Bancorp DE boosted its position in Dropbox by 222.7% during the third quarter. US Bancorp DE now owns 7,825 shares of the company’s stock valued at $210,000 after purchasing an additional 5,400 shares during the last quarter. Advisors Asset Management Inc. acquired a new stake in Dropbox during the second quarter valued at $221,000. Finally, NumerixS Investment Technologies Inc acquired a new stake in Dropbox during the second quarter valued at $237,000. Institutional investors and hedge funds own 21.57% of the company’s stock.

Shares of NASDAQ:DBX opened at $22.42 on Wednesday. Dropbox Inc has a fifty-two week low of $19.54 and a fifty-two week high of $43.50. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.43 and a quick ratio of 1.43.

Dropbox (NASDAQ:DBX) last announced its quarterly earnings results on Thursday, November 8th. The company reported ($0.01) earnings per share for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.07). Dropbox had a negative return on equity of 158.23% and a negative net margin of 38.83%. The company had revenue of $360.30 million during the quarter, compared to analyst estimates of $352.74 million. The firm’s quarterly revenue was up 25.7% compared to the same quarter last year. Equities analysts anticipate that Dropbox Inc will post -1.06 EPS for the current fiscal year.

A number of analysts recently issued reports on DBX shares. Jefferies Financial Group lifted their price objective on Dropbox to $37.00 and gave the company a “buy” rating in a research report on Friday, August 10th. Royal Bank of Canada raised Dropbox from a “sector perform” rating to an “outperform” rating and set a $33.00 price objective for the company in a research report on Friday, August 10th. JMP Securities lifted their price objective on Dropbox from $35.00 to $37.00 and gave the company an “outperform” rating in a research report on Friday, August 10th. Monness Crespi & Hardt started coverage on Dropbox in a research report on Monday, August 27th. They set a “neutral” rating for the company. Finally, Zacks Investment Research raised Dropbox from a “hold” rating to a “buy” rating and set a $35.00 price objective for the company in a research report on Monday, August 13th. Five analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. The company currently has an average rating of “Buy” and an average price target of $33.93.

In other news, CEO Andrew Houston sold 61,728 shares of Dropbox stock in a transaction dated Tuesday, September 25th. The stock was sold at an average price of $27.04, for a total value of $1,669,125.12. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Ajay Vashee sold 13,731 shares of Dropbox stock in a transaction dated Monday, September 24th. The stock was sold at an average price of $26.10, for a total value of $358,379.10. The disclosure for this sale can be found here. Insiders sold 248,095 shares of company stock valued at $6,365,407 in the last ninety days.

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About Dropbox

Dropbox Inc provides a collaboration platform worldwide. Its platform allows individuals, teams, and organizations to create, access, and share content online. The company was formerly known as Evenflow, Inc and changed its name to Dropbox, Inc in October 2009. Dropbox Inc has strategic partnership with Zoom Video Communications, Inc Dropbox Inc was founded in 2007 and is headquartered in San Francisco, California.

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Institutional Ownership by Quarter for Dropbox (NASDAQ:DBX)

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