Perbak Capital Partners LLP Acquires 23,436 Shares of Dropbox, Inc. $DBX

Perbak Capital Partners LLP grew its holdings in Dropbox, Inc. (NASDAQ:DBX) by 140.8% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 40,086 shares of the company’s stock after purchasing an additional 23,436 shares during the quarter. Perbak Capital Partners LLP’s holdings in Dropbox were worth $1,211,000 as of its most recent filing with the SEC.

Other large investors also recently made changes to their positions in the company. LSV Asset Management raised its holdings in shares of Dropbox by 38.1% in the third quarter. LSV Asset Management now owns 11,613,642 shares of the company’s stock valued at $350,848,000 after buying an additional 3,205,140 shares during the last quarter. Norges Bank acquired a new position in Dropbox during the 2nd quarter worth about $51,307,000. Allianz Asset Management GmbH grew its holdings in Dropbox by 47.8% during the 3rd quarter. Allianz Asset Management GmbH now owns 2,123,932 shares of the company’s stock worth $64,164,000 after acquiring an additional 686,577 shares during the last quarter. Arrowstreet Capital Limited Partnership grew its holdings in Dropbox by 10.0% during the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 6,662,161 shares of the company’s stock worth $190,538,000 after acquiring an additional 605,258 shares during the last quarter. Finally, Thrivent Financial for Lutherans increased its position in Dropbox by 1,067.7% in the 3rd quarter. Thrivent Financial for Lutherans now owns 539,470 shares of the company’s stock valued at $16,298,000 after acquiring an additional 493,271 shares in the last quarter. Institutional investors own 94.84% of the company’s stock.

Dropbox Trading Down 0.6%

Shares of NASDAQ:DBX opened at $25.75 on Friday. Dropbox, Inc. has a 1-year low of $23.63 and a 1-year high of $32.40. The stock has a market capitalization of $6.21 billion, a P/E ratio of 13.84, a P/E/G ratio of 1.83 and a beta of 0.63. The business has a 50-day moving average price of $25.74 and a two-hundred day moving average price of $28.14.

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

Insider Buying and Selling at Dropbox

In other Dropbox news, CAO Sarah Elizabeth Schubach sold 1,416 shares of the company’s stock in a transaction on Wednesday, February 18th. The shares were sold at an average price of $24.49, for a total transaction of $34,677.84. Following the completion of the sale, the chief accounting officer owned 86,319 shares in the company, valued at approximately $2,113,952.31. The trade was a 1.61% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CTO Ali Dasdan sold 7,306 shares of the stock in a transaction on Thursday, February 26th. The shares were sold at an average price of $24.89, for a total value of $181,846.34. Following the completion of the transaction, the chief technology officer directly owned 499,379 shares in the company, valued at approximately $12,429,543.31. This trade represents a 1.44% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 451,613 shares of company stock valued at $11,737,127. 29.95% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

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

Dropbox Company 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.