Yousif Capital Management LLC Sells 8,378 Shares of Dropbox, Inc. $DBX

Yousif Capital Management LLC lessened its holdings in shares of Dropbox, Inc. (NASDAQ:DBX) by 11.3% in the second quarter, HoldingsChannel.com reports. The firm owned 66,036 shares of the company’s stock after selling 8,378 shares during the period. Yousif Capital Management LLC’s holdings in Dropbox were worth $1,889,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Elequin Capital LP grew its stake in shares of Dropbox by 71.0% in the 1st quarter. Elequin Capital LP now owns 1,130 shares of the company’s stock worth $30,000 after acquiring an additional 469 shares in the last quarter. Brooklyn Investment Group grew its stake in shares of Dropbox by 250.3% in the 1st quarter. Brooklyn Investment Group now owns 1,387 shares of the company’s stock worth $37,000 after acquiring an additional 991 shares in the last quarter. SBI Securities Co. Ltd. grew its stake in shares of Dropbox by 33.4% in the 1st quarter. SBI Securities Co. Ltd. now owns 1,794 shares of the company’s stock worth $48,000 after acquiring an additional 449 shares in the last quarter. Fifth Third Bancorp grew its stake in shares of Dropbox by 27.3% in the 1st quarter. Fifth Third Bancorp now owns 2,288 shares of the company’s stock worth $61,000 after acquiring an additional 490 shares in the last quarter. Finally, UMB Bank n.a. grew its stake in shares of Dropbox by 29.7% in the 2nd quarter. UMB Bank n.a. now owns 3,243 shares of the company’s stock worth $93,000 after acquiring an additional 742 shares in the last quarter. Institutional investors own 94.84% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on DBX shares. Weiss Ratings reiterated a “hold (c+)” rating on shares of Dropbox in a research note on Wednesday, October 8th. UBS Group lowered shares of Dropbox from a “neutral” rating to a “sell” rating and reduced their target price for the stock from $29.00 to $27.00 in a research note on Thursday, September 18th. Finally, Wall Street Zen upgraded shares of Dropbox from a “hold” rating to a “buy” rating in a research note on Saturday. Three investment analysts have rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Reduce” and an average target price of $29.67.

Insider Buying and Selling at Dropbox

In other Dropbox news, CTO Ali Dasdan sold 12,812 shares of the company’s stock in a transaction dated Monday, September 8th. The shares were sold at an average price of $30.00, for a total transaction of $384,360.00. Following the sale, the chief technology officer directly owned 551,060 shares of the company’s stock, valued at $16,531,800. This represents a 2.27% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Timothy Regan sold 1,500 shares of the company’s stock in a transaction dated Wednesday, October 15th. The shares were sold at an average price of $28.62, for a total transaction of $42,930.00. Following the sale, the chief financial officer directly owned 470,121 shares in the company, valued at approximately $13,454,863.02. This trade represents a 0.32% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 318,632 shares of company stock valued at $9,248,234. Insiders own 29.95% of the company’s stock.

Dropbox Stock Performance

Shares of NASDAQ:DBX opened at $29.10 on Friday. The company’s 50-day moving average is $29.49 and its 200 day moving average is $28.49. The company has a market capitalization of $7.85 billion, a P/E ratio of 17.74, a price-to-earnings-growth ratio of 3.83 and a beta of 0.67. Dropbox, Inc. has a fifty-two week low of $24.42 and a fifty-two week high of $33.33.

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