CenterBook Partners LP Purchases Shares of 82,813 Dropbox, Inc. $DBX

CenterBook Partners LP bought a new stake in shares of Dropbox, Inc. (NASDAQ:DBX) in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 82,813 shares of the company’s stock, valued at approximately $2,368,000.

Other hedge funds have also recently added to or reduced their stakes in the company. SGL Investment Advisors Inc. grew its holdings in shares of Dropbox by 2.4% in the 2nd quarter. SGL Investment Advisors Inc. now owns 16,143 shares of the company’s stock worth $442,000 after acquiring an additional 375 shares during the last quarter. PNC Financial Services Group Inc. increased its stake in shares of Dropbox by 5.7% in the second quarter. PNC Financial Services Group Inc. now owns 8,607 shares of the company’s stock worth $246,000 after acquiring an additional 461 shares during the last quarter. Elequin Capital LP lifted its holdings in shares of Dropbox by 71.0% during the 1st quarter. Elequin Capital LP now owns 1,130 shares of the company’s stock valued at $30,000 after buying an additional 469 shares during the last quarter. Resona Asset Management Co. Ltd. grew its position in Dropbox by 4.6% in the first quarter. Resona Asset Management Co. Ltd. now owns 14,322 shares of the company’s stock worth $383,000 after acquiring an additional 625 shares in the last quarter. Finally, Cooper Financial Group increased its position in Dropbox by 2.8% during the first quarter. Cooper Financial Group now owns 23,106 shares of the company’s stock worth $617,000 after buying an additional 640 shares during the last quarter. Institutional investors and hedge funds own 94.84% of the company’s stock.

Dropbox Stock Performance

Shares of DBX opened at $29.66 on Friday. The business’s fifty day moving average price is $29.81 and its two-hundred day moving average price is $28.88. The firm has a market capitalization of $7.67 billion, a price-to-earnings ratio of 16.76, a PEG ratio of 2.54 and a beta of 0.65. Dropbox, Inc. has a 52 week low of $24.42 and a 52 week high of $33.33.

Dropbox (NASDAQ:DBX) last released its earnings results on Thursday, November 6th. The company reported $0.74 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.64 by $0.10. Dropbox had a net margin of 19.87% and a negative return on equity of 49.51%. The company had revenue of $634.40 million for the quarter, compared to the consensus estimate of $623.59 million. During the same period in the prior year, the company posted $0.60 EPS. The company’s revenue was down .7% compared to the same quarter last year. Dropbox has set its FY 2025 guidance at EPS. Q4 2025 guidance at EPS. As a group, research analysts forecast that Dropbox, Inc. will post 1.64 EPS for the current year.

Insider Buying and Selling

In other news, insider Ashraf Alkarmi sold 10,098 shares of Dropbox stock in a transaction on Tuesday, November 18th. The shares were sold at an average price of $29.18, for a total transaction of $294,659.64. Following the transaction, the insider directly owned 435,810 shares of the company’s stock, valued at $12,716,935.80. This trade represents a 2.26% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Andrew Houston sold 101,167 shares of the business’s stock in a transaction dated Wednesday, October 1st. The shares were sold at an average price of $29.64, for a total value of $2,998,589.88. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 336,105 shares of company stock worth $10,037,090. Corporate insiders own 29.95% of the company’s stock.

Wall Street Analysts Forecast Growth

DBX has been the topic of several analyst reports. Wall Street Zen upgraded Dropbox from a “hold” rating to a “buy” rating in a report on Saturday, November 8th. Royal Bank Of Canada upped their price target on Dropbox from $35.00 to $38.00 and gave the company an “outperform” rating in a report on Friday, November 7th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Dropbox in a report on Wednesday, October 8th. Finally, UBS Group lowered Dropbox from a “neutral” rating to a “sell” rating and dropped their price objective for the stock from $29.00 to $27.00 in a research note on Thursday, September 18th. One analyst has rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, Dropbox currently has an average rating of “Hold” and a consensus target price of $31.75.

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.