Invst LLC Makes New $683,000 Investment in Dropbox, Inc. $DBX

Invst LLC bought a new position in shares of Dropbox, Inc. (NASDAQ:DBX) during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 25,561 shares of the company’s stock, valued at approximately $683,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of DBX. Wedge Capital Management L L P NC grew its stake in shares of Dropbox by 1,640.3% during the first quarter. Wedge Capital Management L L P NC now owns 2,141,026 shares of the company’s stock worth $57,187,000 after buying an additional 2,017,997 shares during the last quarter. Seizert Capital Partners LLC grew its stake in shares of Dropbox by 524.8% in the first quarter. Seizert Capital Partners LLC now owns 1,879,374 shares of the company’s stock worth $50,198,000 after purchasing an additional 1,578,566 shares during the last quarter. LSV Asset Management grew its stake in shares of Dropbox by 18.4% in the first quarter. LSV Asset Management now owns 7,633,516 shares of the company’s stock worth $203,891,000 after purchasing an additional 1,187,395 shares during the last quarter. Caisse DE Depot ET Placement DU Quebec grew its stake in shares of Dropbox by 38.1% in the first quarter. Caisse DE Depot ET Placement DU Quebec now owns 2,482,705 shares of the company’s stock worth $66,313,000 after purchasing an additional 684,882 shares during the last quarter. Finally, Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in shares of Dropbox in the first quarter worth $6,401,000. Institutional investors own 94.84% of the company’s stock.

Insider Buying and Selling at Dropbox

In other Dropbox news, insider Ashraf Alkarmi sold 10,000 shares of the company’s stock in a transaction on Monday, September 8th. The shares were sold at an average price of $30.00, for a total transaction of $300,000.00. Following the sale, the insider owned 459,333 shares of the company’s stock, valued at approximately $13,779,990. This represents a 2.13% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Andrew Houston sold 45,835 shares of the company’s stock in a transaction dated Monday, September 8th. The shares were sold at an average price of $30.04, for a total transaction of $1,376,883.40. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 314,333 shares of company stock valued at $8,938,399. 29.95% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several analysts recently weighed in on the stock. Wall Street Zen cut shares of Dropbox from a “buy” rating to a “hold” rating in a research note on Friday, September 5th. UBS Group reduced their price objective on shares of Dropbox from $31.00 to $29.00 and set a “neutral” rating on the stock in a research note on Friday, August 8th. Three research analysts have rated the stock with a Hold rating, According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $30.33.

Dropbox Stock Performance

Shares of DBX opened at $30.91 on Friday. The stock has a market capitalization of $8.34 billion, a P/E ratio of 18.85, a price-to-earnings-growth ratio of 4.09 and a beta of 0.70. The firm’s fifty day simple moving average is $28.05 and its two-hundred day simple moving average is $27.83. Dropbox, Inc. has a 12 month low of $24.25 and a 12 month high of $33.33.

Dropbox (NASDAQ:DBX) last issued its quarterly earnings results on Thursday, August 7th. The company reported $0.71 EPS for the quarter, beating analysts’ consensus estimates of $0.63 by $0.08. The business had revenue of $625.70 million for the quarter, compared to analysts’ expectations of $618.60 million. Dropbox had a net margin of 19.17% and a negative return on equity of 61.31%. The business’s quarterly revenue was down 1.4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.60 earnings per share. As a group, research analysts predict that Dropbox, Inc. will post 1.64 EPS for the current fiscal year.

Dropbox Profile

Dropbox, Inc provides a content collaboration platform worldwide. The company's platform allows individuals, families, teams, and organizations to collaborate and sign up for free through its website or app, as well as upgrade to a paid subscription plan for premium features. It serves customers in professional services, technology, media, education, industrial, consumer and retail, and financial services industries.