Renaissance Technologies LLC has recently announced that it has increased stake in Dropbox Inc (NASDAQ:DBX) by 2.72%. After grabbing 9.55 million shares, the institutional investor is now in possession of 0.25 million shares of the Technology Company. The new investment brought the stake of investor firm to 3.60% having worth around $269.13 million. Moreover, SSgA Funds Management, Inc. increased its share by 69559.0 to have a control over 9.41 million shares. And Thrivent Asset Management LLC raised its holdings to 0.23 million shares by acquiring 5.24 million shares or 1.98% of the stake.
Dropbox Inc (DBX) concluded trading on 01/04/24 at a closing price of $28.60, with 3.05 million shares of worth about $87.12 million changed hands on the day. Half year performance of the stock remained positive as price took a surge of 7.00% during that period and on Thursday the price saw a loss of about -1.41%. Currently the company’s common shares owned by public are about 267.20M shares, out of which, 254.52M shares are available for trading.
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According to filings with the U.S. Securities and Exchange Commission (SEC), insiders took part in trade of the company’s stock for 53 times over the past 12 months. They bought 619,310 shares in 10 of the transactions. In 43 selling transactions, insiders dumped 1,087,987 shares.
Columbia Seligman Technology & In, iShares Core S&P Mid Cap ETF, and Vanguard Total Stock Market ETF are the top 3 mutual funds which are holding stakes in Dropbox Inc Columbia Seligman Technology & In is currently holding 10.75 million shares of worth totaling $302.94 million. The company recently came buying 0.4 million shares which brought its stake up to 4.06% of the company’s outstanding shares. iShares Core S&P Mid Cap ETF bought 1411.0 shares, after which its hold over company’s outstanding shares expand to 3.00%, leaving 7.95 million shares with the mutual fund that have a worth of about $224.16 million. Vanguard Total Stock Market ETF, after buying 7.93 million shares, have now control over 2.99% of the stake in the company. It holds 8103.0 shares of worth $223.45 million.
Dropbox Inc (NASDAQ: DBX) started trading at $28.95, below -$0.06 from concluding price of the previous day. However, the stock later moved at a day high price of 29.22, or with a loss of -1.41%. Stock saw a price change of -4.86% in past 5 days and over the past one month there was a price change of 1.02%. Year-to-date (YTD), DBX shares are showing a performance of -2.99% which increased to 26.10% when we look at its performance for past 12 months. Over the period of past 52 weeks, stock dropped to lowest price of $18.71 but also hit the highest price of $30.50 during that period. The average intraday trading volume for Dropbox Inc shares is 2.85 million. The stock is currently trading -1.87% below its 20-day simple moving average (SMA20), while that difference is up 2.53% for SMA50 and it goes to 11.11% higher than SMA200.
Renaissance Technologies LLC acquired 9.55 million shares of Dropbox Inc having value of about $269.13 million. Data submitted at the U.S SEC by Renaissance Technologies LLC revealed that the firm now holds 0.25 million shares in the company valued at close to $7227220.0, or have control over 2.72% stake in the company. Dropbox Inc (NASDAQ: DBX) currently have 267.20M outstanding shares and institutions hold larger chunk of about 69.88% of that. Holding of mutual funds in the company is about 52.70% while other institutional holders and individual stake holders have control over 6.35% and 39.10% of the stake respectively.
The stock has a current market capitalization of $9.89B and its 3Y-monthly beta is at 0.77. PE ratio of stock for trailing 12 months is 18.09, while it has posted earnings per share of $1.58 in the same period. Its PEG reads 1.24 and has Quick Ratio of 1.20. Volatility of a stock is a metric used to know how much the price of that stock is under influence and for DBX, volatility over the week remained 2.01% while standing at 2.01% over the month.
Analysts are in expectations that Dropbox Inc (DBX) stock would likely to be making an EPS of $Diana Shipping inc. in the current quarter, while forecast for next quarter EPS is $3.13 and it is $Stocks for next year. For the current quarter EPS, analysts have given the company a lowest target $Dynex Capital, Inc. which is $Becton, Dickinson and Company at the higher side of the target for the same. When we compare those targets with actual EPS, we find that company posted an EPS of $Deutsche Bank AG in the same quarter a year ago. Stock’s fiscal year EPS is expected to rise by 24.57% while it is estimated to increase by 5.13% in next year.
Analysts at 14 brokerage firms have issued recommendations for the Dropbox Inc (DBX)’s stock and average of those rates the stock at a “Moderate Buy” and assign it a score of 2.21. Out of those 14 Wall Street analysts, 6 recommended a “Buy” rating, while 7 were in favor recommending the stock as a “Hold” and 0 analyst recommended the stock as “Sell”.
Digging deeper we find that several firms have released their research notes about the support levels of the stock. Most recent of them is a note released by UBS on December 15, 2023 offering a Buy rating for the stock and assigned a target price of $36 to it.
