Dropbox, Inc. (NASDAQ:DBX) Shares Sold by Fmr LLC

Fmr LLC reduced its stake in shares of Dropbox, Inc. (NASDAQ:DBX) by 4.5% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,692,400 shares of the company’s stock after selling 359,519 shares during the quarter. Fmr LLC owned about 1.92% of Dropbox worth $233,157,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in DBX. Acadian Asset Management LLC raised its stake in Dropbox by 111.2% during the 1st quarter. Acadian Asset Management LLC now owns 9,750 shares of the company’s stock worth $260,000 after acquiring an additional 5,134 shares in the last quarter. Mitsubishi UFJ Trust & Banking Corp increased its stake in Dropbox by 2.5% in the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 247,371 shares of the company’s stock valued at $6,585,000 after purchasing an additional 5,946 shares during the period. Sei Investments Co. increased its stake in Dropbox by 42.2% in the first quarter. Sei Investments Co. now owns 198,598 shares of the company’s stock valued at $5,106,000 after purchasing an additional 58,966 shares during the period. JPMorgan Chase & Co. increased its stake in Dropbox by 356.2% in the first quarter. JPMorgan Chase & Co. now owns 1,550,756 shares of the company’s stock valued at $41,344,000 after purchasing an additional 1,210,822 shares during the period. Finally, Essex Investment Management Co. LLC acquired a new position in Dropbox in the first quarter valued at $815,000. Hedge funds and other institutional investors own 67.21% of the company’s stock.

In other Dropbox news, President Timothy H. Young sold 11,250 shares of the company’s stock in a transaction dated Monday, July 26th. The shares were sold at an average price of $30.80, for a total value of $346,500.00. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Bart Volkmer sold 10,000 shares of the company’s stock in a transaction dated Thursday, August 12th. The shares were sold at an average price of $32.24, for a total transaction of $322,400.00. The disclosure for this sale can be found here. In the last three months, insiders have sold 72,253 shares of company stock worth $2,234,548. 30.81% of the stock is owned by insiders.

A number of research firms have commented on DBX. Jefferies Financial Group lifted their price objective on shares of Dropbox from $38.00 to $40.00 and gave the company a “buy” rating in a research note on Friday, August 6th. JMP Securities lifted their price objective on shares of Dropbox from $37.00 to $39.00 and gave the company a “market outperform” rating in a research note on Friday, August 6th. Royal Bank of Canada lifted their price objective on shares of Dropbox from $35.00 to $38.00 and gave the company an “outperform” rating in a research note on Friday, August 6th. TheStreet upgraded shares of Dropbox from a “d+” rating to a “c-” rating in a research note on Monday, August 2nd. Finally, Zacks Investment Research lowered shares of Dropbox from a “buy” rating to a “hold” rating in a research note on Wednesday, October 6th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $35.80.

Shares of Dropbox stock opened at $28.90 on Thursday. The firm has a market cap of $11.52 billion, a price-to-earnings ratio of 43.22 and a beta of 0.92. Dropbox, Inc. has a 52-week low of $17.66 and a 52-week high of $33.00. The company’s 50-day simple moving average is $30.75 and its 200-day simple moving average is $29.12.

Dropbox (NASDAQ:DBX) last released its quarterly earnings data on Thursday, August 5th. The company reported $0.40 EPS for the quarter, topping analysts’ consensus estimates of $0.15 by $0.25. The firm had revenue of $530.60 million for the quarter, compared to the consensus estimate of $524.00 million. Dropbox had a negative net margin of 8.73% and a positive return on equity of 108.39%. Equities analysts forecast that Dropbox, Inc. will post 0.77 EPS for the current fiscal year.

About Dropbox

Dropbox, Inc is a collaboration platform that’s transforming the way people and teams work together. It offers following products: Dropbox Basic, Plus, Professional and Business. The Dropbox Basic is the simple, powerful home for photos, videos, docs, and other files. Its users also get access to new product Dropbox Paper, a collaborative workspace that helps teams create and share early ideas, and work with any type of content, in one centralized place.

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Institutional Ownership by Quarter for Dropbox (NASDAQ:DBX)

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