Thrivent Financial for Lutherans Has $16.30 Million Holdings in Dropbox, Inc. $DBX

Thrivent Financial for Lutherans raised its position in shares of Dropbox, Inc. (NASDAQ:DBX) by 1,067.7% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 539,470 shares of the company’s stock after buying an additional 493,271 shares during the quarter. Thrivent Financial for Lutherans owned 0.20% of Dropbox worth $16,298,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. LSV Asset Management lifted its position in shares of Dropbox by 10.2% in the 2nd quarter. LSV Asset Management now owns 8,408,502 shares of the company’s stock valued at $240,483,000 after acquiring an additional 774,986 shares in the last quarter. Arrowstreet Capital Limited Partnership raised its stake in Dropbox by 10.0% during the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 6,662,161 shares of the company’s stock valued at $190,538,000 after purchasing an additional 605,258 shares during the period. Wedge Capital Management L L P NC lifted its holdings in shares of Dropbox by 2.7% in the third quarter. Wedge Capital Management L L P NC now owns 2,287,185 shares of the company’s stock valued at $69,096,000 after purchasing an additional 59,625 shares in the last quarter. Russell Investments Group Ltd. lifted its holdings in shares of Dropbox by 14.5% in the second quarter. Russell Investments Group Ltd. now owns 2,123,102 shares of the company’s stock valued at $60,443,000 after purchasing an additional 268,442 shares in the last quarter. Finally, Robeco Institutional Asset Management B.V. boosted its position in shares of Dropbox by 2.6% in the third quarter. Robeco Institutional Asset Management B.V. now owns 2,055,276 shares of the company’s stock worth $62,090,000 after buying an additional 52,218 shares during the period. 94.84% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Dropbox

In other news, insider William T. Yoon sold 7,142 shares of the firm’s stock in a transaction on Tuesday, November 18th. The shares were sold at an average price of $29.19, for a total transaction of $208,474.98. Following the transaction, the insider owned 206,228 shares in the company, valued at approximately $6,019,795.32. This trade represents a 3.35% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CTO Ali Dasdan sold 5,666 shares of the company’s stock in a transaction on Monday, November 24th. The stock was sold at an average price of $30.00, for a total transaction of $169,980.00. Following the completion of the sale, the chief technology officer owned 520,474 shares of the company’s stock, valued at $15,614,220. This represents a 1.08% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 404,054 shares of company stock worth $11,630,495. Company insiders own 28.59% of the company’s stock.

Dropbox Price Performance

DBX opened at $25.11 on Wednesday. The company has a market capitalization of $6.50 billion, a PE ratio of 14.19, a price-to-earnings-growth ratio of 2.10 and a beta of 0.63. Dropbox, Inc. has a fifty-two week low of $24.41 and a fifty-two week high of $33.27. The business has a 50-day moving average of $27.62 and a 200-day moving average of $28.61.

Dropbox (NASDAQ:DBX) last released its quarterly earnings data on Thursday, November 6th. The company reported $0.74 EPS for the quarter, topping analysts’ consensus estimates of $0.64 by $0.10. The firm had revenue of $634.40 million for the quarter, compared to the consensus estimate of $623.59 million. Dropbox had a negative return on equity of 49.51% and a net margin of 19.87%.The firm’s revenue was down .7% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.60 earnings per share. On average, equities research analysts expect that Dropbox, Inc. will post 1.64 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on DBX. Wall Street Zen lowered Dropbox from a “buy” rating to a “hold” rating in a research report on Friday, January 23rd. Weiss Ratings reiterated a “hold (c+)” rating on shares of Dropbox in a report on Wednesday, January 21st. Finally, Royal Bank Of Canada decreased their price target on shares of Dropbox from $38.00 to $35.00 and set an “outperform” rating for the company in a report on Monday, January 5th. One investment analyst has rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Dropbox has a consensus rating of “Hold” and an average target price of $31.33.

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.