WINTON GROUP Ltd Invests $4.50 Million in Dropbox, Inc. $DBX

WINTON GROUP Ltd acquired a new stake in Dropbox, Inc. (NASDAQ:DBX) in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 148,870 shares of the company’s stock, valued at approximately $4,497,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Russell Investments Group Ltd. lifted its stake in shares of Dropbox by 1.2% in the third quarter. Russell Investments Group Ltd. now owns 2,148,859 shares of the company’s stock worth $65,142,000 after buying an additional 25,757 shares in the last quarter. Schroder Investment Management Group increased its holdings in shares of Dropbox by 301.4% in the third quarter. Schroder Investment Management Group now owns 487,447 shares of the company’s stock valued at $14,940,000 after purchasing an additional 366,025 shares during the last quarter. Inceptionr LLC boosted its stake in Dropbox by 194.5% during the third quarter. Inceptionr LLC now owns 29,014 shares of the company’s stock worth $877,000 after buying an additional 19,162 shares during the last quarter. Neo Ivy Capital Management increased its stake in shares of Dropbox by 429.6% in the 3rd quarter. Neo Ivy Capital Management now owns 5,556 shares of the company’s stock worth $168,000 after acquiring an additional 4,507 shares during the last quarter. Finally, SPX Gestao de Recursos Ltda acquired a new position in shares of Dropbox during the 3rd quarter valued at about $508,000. Institutional investors and hedge funds own 94.84% of the company’s stock.

Insiders Place Their Bets

In other news, CTO Ali Dasdan sold 7,306 shares of the business’s stock in a transaction that occurred on Thursday, February 26th. The shares were sold at an average price of $24.89, for a total transaction of $181,846.34. Following the completion of the sale, the chief technology officer owned 499,379 shares in the company, valued at approximately $12,429,543.31. The trade was a 1.44% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Andrew Houston sold 109,498 shares of the company’s stock in a transaction on Monday, March 2nd. The shares were sold at an average price of $24.94, for a total transaction of $2,730,880.12. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 451,613 shares of company stock worth $11,737,127 in the last three months. 28.59% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several analysts have recently commented on DBX shares. Wall Street Zen lowered shares of Dropbox from a “buy” rating to a “hold” rating in a research report on Friday, January 23rd. Royal Bank Of Canada lowered their target price on shares of Dropbox from $35.00 to $30.00 and set an “outperform” rating for the company in a research note on Friday, February 20th. Weiss Ratings reissued a “hold (c+)” rating on shares of Dropbox in a research note on Wednesday, January 21st. UBS Group dropped their target price on shares of Dropbox from $27.00 to $23.00 and set a “sell” rating for the company in a report on Friday, February 20th. Finally, JPMorgan Chase & Co. cut their target price on Dropbox from $29.00 to $25.00 and set a “neutral” rating on the stock in a research report on Friday, February 20th. One analyst has rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $27.50.

Dropbox Trading Down 0.1%

Shares of DBX stock opened at $26.75 on Tuesday. The company has a market cap of $6.45 billion, a P/E ratio of 14.38, a PEG ratio of 1.89 and a beta of 0.63. The firm has a fifty day moving average price of $25.86 and a 200 day moving average price of $28.21. Dropbox, Inc. has a 12 month low of $23.63 and a 12 month high of $32.40.

Dropbox (NASDAQ:DBX) last posted its quarterly earnings results on Thursday, February 19th. The company reported $0.68 earnings per share for the quarter, beating analysts’ consensus estimates of $0.66 by $0.02. The company had revenue of $636.20 million for the quarter, compared to analysts’ expectations of $627.83 million. Dropbox had a negative return on equity of 37.47% and a net margin of 20.17%.Dropbox’s quarterly revenue was down 1.1% on a year-over-year basis. During the same period last year, the firm earned $0.73 earnings per share. On average, equities analysts forecast that Dropbox, Inc. will post 1.64 EPS for the current year.

Dropbox Profile

Dropbox, Inc (NASDAQ: DBX) is a leading provider of cloud-based file storage, collaboration, and productivity tools. Founded in 2007 and headquartered in San Francisco, California, the company offers a suite of services designed to help individuals and organizations securely store, share, and manage digital content. Dropbox has grown from a simple file-syncing application into an integrated collaboration platform used by millions of customers around the globe.

At its core, Dropbox provides cloud storage plans tailored for consumers and businesses.