WINTON GROUP Ltd Takes $4.43 Million Position in Dropbox, Inc. $DBX

WINTON GROUP Ltd purchased a new stake in Dropbox, Inc. (NASDAQ:DBX) during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 161,162 shares of the company’s stock, valued at approximately $4,427,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in DBX. Empowered Funds LLC lifted its holdings in shares of Dropbox by 7.3% in the 1st quarter. Empowered Funds LLC now owns 38,795 shares of the company’s stock worth $1,036,000 after purchasing an additional 2,655 shares in the last quarter. Cetera Investment Advisers boosted its stake in shares of Dropbox by 10.8% in the 2nd quarter. Cetera Investment Advisers now owns 24,623 shares of the company’s stock worth $704,000 after buying an additional 2,405 shares during the last quarter. EverSource Wealth Advisors LLC grew its stake in Dropbox by 88.0% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,681 shares of the company’s stock valued at $48,000 after purchasing an additional 787 shares during the period. Cresset Asset Management LLC increased its position in shares of Dropbox by 75.8% during the 2nd quarter. Cresset Asset Management LLC now owns 15,230 shares of the company’s stock valued at $436,000 after purchasing an additional 6,569 shares during the last quarter. Finally, Federated Hermes Inc. increased its position in shares of Dropbox by 360.9% during the 2nd quarter. Federated Hermes Inc. now owns 117,852 shares of the company’s stock valued at $3,371,000 after purchasing an additional 92,280 shares during the last quarter. Institutional investors own 94.84% of the company’s stock.

Dropbox Price Performance

Shares of NASDAQ DBX opened at $35.05 on Friday. The stock has a market capitalization of $7.91 billion, a P/E ratio of 19.47, a PEG ratio of 5.09 and a beta of 0.65. Dropbox, Inc. has a one year low of $21.69 and a one year high of $36.37. The firm’s 50 day simple moving average is $32.69 and its two-hundred day simple moving average is $28.04.

Dropbox (NASDAQ:DBX) last announced its quarterly earnings data on Thursday, August 6th. The company reported $0.75 earnings per share for the quarter, topping analysts’ consensus estimates of $0.74 by $0.01. Dropbox had a net margin of 17.49% and a negative return on equity of 24.26%. The firm had revenue of $631.50 million during the quarter, compared to analyst estimates of $626.69 million. During the same period in the previous year, the business posted $0.71 EPS. The business’s quarterly revenue was up .9% on a year-over-year basis. As a group, equities analysts expect that Dropbox, Inc. will post 1.94 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, CTO Ali Dasdan sold 11,332 shares of the firm’s stock in a transaction dated Tuesday, August 18th. The stock was sold at an average price of $34.13, for a total transaction of $386,761.16. Following the transaction, the chief technology officer directly owned 471,052 shares of the company’s stock, valued at approximately $16,077,004.76. This trade represents a 2.35% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Karen Peacock sold 2,000 shares of Dropbox stock in a transaction dated Wednesday, July 29th. The stock was sold at an average price of $33.00, for a total value of $66,000.00. Following the completion of the transaction, the director owned 22,366 shares in the company, valued at approximately $738,078. This represents a 8.21% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 55,647 shares of company stock worth $1,876,439 over the last 90 days. Insiders own 35.48% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have commented on DBX shares. Citigroup lifted their price objective on shares of Dropbox from $28.00 to $33.00 and gave the stock a “neutral” rating in a research report on Friday, August 7th. Wall Street Zen cut Dropbox from a “buy” rating to a “hold” rating in a report on Saturday, August 8th. Bank of America reiterated an “underperform” rating on shares of Dropbox in a research note on Friday, August 7th. Weiss Ratings upgraded Dropbox from a “hold (c)” rating to a “hold (c+)” rating in a research report on Thursday, August 13th. Finally, Zacks Research downgraded shares of Dropbox from a “hold” rating to a “strong sell” rating in a report on Wednesday, August 19th. One research analyst has rated the stock with a Buy rating, four have issued a Hold rating and three have given a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of “Reduce” and a consensus target price of $30.75.

About Dropbox

Dropbox, Inc (NASDAQ: DBX) is a technology company that provides cloud-based file storage, synchronization, sharing and collaboration services. Its platform enables individuals, businesses and organizations to store files online, access them across connected devices, and collaborate on documents and other digital content.

The company’s offerings include Dropbox for file management and collaboration, Dropbox Paper for shared document and project work, Dropbox Sign for electronic signatures, and DocSend for securely sharing and tracking business documents.