Hsbc Holdings PLC Grows Stock Holdings in Dropbox, Inc. $DBX

Hsbc Holdings PLC increased its stake in Dropbox, Inc. (NASDAQ:DBX) by 61.5% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 115,383 shares of the company’s stock after purchasing an additional 43,923 shares during the quarter. Hsbc Holdings PLC’s holdings in Dropbox were worth $3,281,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in the stock. Acadian Asset Management LLC lifted its holdings in shares of Dropbox by 1.9% during the 1st quarter. Acadian Asset Management LLC now owns 8,544,978 shares of the company’s stock valued at $228,202,000 after buying an additional 157,148 shares during the period. LSV Asset Management increased its position in Dropbox by 10.2% during the second quarter. LSV Asset Management now owns 8,408,502 shares of the company’s stock valued at $240,483,000 after acquiring an additional 774,986 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in Dropbox by 1.2% in the first quarter. Charles Schwab Investment Management Inc. now owns 2,950,273 shares of the company’s stock valued at $78,802,000 after acquiring an additional 36,268 shares during the period. Caisse DE Depot ET Placement DU Quebec boosted its position in 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, Wedge Capital Management L L P NC boosted its position in Dropbox by 4.0% in the second quarter. Wedge Capital Management L L P NC now owns 2,227,560 shares of the company’s stock worth $63,708,000 after purchasing an additional 86,534 shares during the last quarter. Institutional investors own 94.84% of the company’s stock.

Insider Activity

In other news, insider William T. Yoon sold 11,430 shares of the business’s stock in a transaction dated Monday, September 8th. The stock was sold at an average price of $30.16, for a total value of $344,728.80. Following the transaction, the insider directly owned 223,662 shares in the company, valued at $6,745,645.92. The trade was a 4.86% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CTO Ali Dasdan sold 12,812 shares of the stock in a transaction dated Monday, September 8th. The stock was sold at an average price of $30.00, for a total value of $384,360.00. Following the sale, the chief technology officer owned 551,060 shares of the company’s stock, valued at $16,531,800. This represents a 2.27% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 444,992 shares of company stock worth $13,259,678. 29.95% of the stock is currently owned by corporate insiders.

Dropbox Trading Down 1.5%

Dropbox stock opened at $29.34 on Friday. Dropbox, Inc. has a 12-month low of $24.42 and a 12-month high of $33.33. The firm has a market capitalization of $7.59 billion, a price-to-earnings ratio of 16.58, a P/E/G ratio of 2.55 and a beta of 0.63. The firm has a 50 day moving average of $29.49 and a 200 day moving average of $28.90.

Dropbox (NASDAQ:DBX) last posted its quarterly earnings results on Thursday, November 6th. The company reported $0.74 earnings per share for the quarter, topping analysts’ consensus estimates of $0.64 by $0.10. The business had revenue of $634.40 million during the quarter, compared to analyst estimates of $623.59 million. Dropbox had a net margin of 19.87% and a negative return on equity of 49.51%. The company’s revenue was down .7% on a year-over-year basis. During the same period in the prior year, the business posted $0.60 earnings per share. On average, analysts predict that Dropbox, Inc. will post 1.64 EPS for the current year.

Analyst Upgrades and Downgrades

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