Dropbox, Inc. $DBX Holdings Trimmed by Amalgamated Bank

Amalgamated Bank decreased its holdings in shares of Dropbox, Inc. (NASDAQ:DBX) by 7.6% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 93,130 shares of the company’s stock after selling 7,631 shares during the period. Amalgamated Bank’s holdings in Dropbox were worth $2,664,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently added to or reduced their stakes in DBX. New York State Teachers Retirement System boosted its stake in shares of Dropbox by 6.7% during the 1st quarter. New York State Teachers Retirement System now owns 101,917 shares of the company’s stock worth $2,722,000 after acquiring an additional 6,366 shares in the last quarter. Vontobel Holding Ltd. acquired a new position in shares of Dropbox in the first quarter worth about $235,000. Envestnet Asset Management Inc. boosted its holdings in shares of Dropbox by 177.2% in the first quarter. Envestnet Asset Management Inc. now owns 109,549 shares of the company’s stock worth $2,926,000 after buying an additional 70,023 shares during the period. Crossmark Global Holdings Inc. boosted its holdings in shares of Dropbox by 36.1% in the first quarter. Crossmark Global Holdings Inc. now owns 255,407 shares of the company’s stock worth $6,822,000 after buying an additional 67,805 shares during the period. Finally, DekaBank Deutsche Girozentrale boosted its holdings in shares of Dropbox by 5.3% in the first quarter. DekaBank Deutsche Girozentrale now owns 1,875,968 shares of the company’s stock worth $49,366,000 after buying an additional 95,205 shares during the period. 94.84% of the stock is currently owned by institutional investors.

Dropbox Stock Down 2.5%

Shares of NASDAQ:DBX opened at $28.97 on Wednesday. The firm has a fifty day moving average of $29.76 and a two-hundred day moving average of $28.73. The firm has a market capitalization of $7.82 billion, a P/E ratio of 17.66, a price-to-earnings-growth ratio of 3.91 and a beta of 0.65. Dropbox, Inc. has a 12-month low of $24.42 and a 12-month high of $33.33.

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

Insider Buying and Selling at Dropbox

In other news, CTO Ali Dasdan sold 12,812 shares of Dropbox stock in a transaction dated Monday, September 8th. The stock was sold at an average price of $30.00, for a total transaction of $384,360.00. Following the completion of the sale, the chief technology officer directly owned 551,060 shares in the company, valued at $16,531,800. The trade was a 2.27% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Timothy Regan sold 1,500 shares of Dropbox stock in a transaction dated Thursday, October 30th. The shares were sold at an average price of $28.40, for a total value of $42,600.00. Following the sale, the chief financial officer owned 468,621 shares of the company’s stock, valued at approximately $13,308,836.40. This represents a 0.32% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 318,698 shares of company stock worth $9,251,159 over the last quarter. Insiders own 28.59% of the company’s stock.

Wall Street Analysts Forecast Growth

DBX has been the subject of a number of recent analyst reports. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Dropbox in a research note on Wednesday, October 8th. UBS Group cut Dropbox from a “neutral” rating to a “sell” rating and decreased their target price for the stock from $29.00 to $27.00 in a research report on Thursday, September 18th. Finally, Wall Street Zen cut Dropbox from a “buy” rating to a “hold” rating in a research report on Sunday, October 26th. Three investment analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Reduce” and a consensus target price of $29.67.

Dropbox Company 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.