Swiss National Bank Sells 20,200 Shares of Dropbox, Inc. $DBX

Swiss National Bank lessened its stake in Dropbox, Inc. (NASDAQ:DBX) by 5.5% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 345,300 shares of the company’s stock after selling 20,200 shares during the period. Swiss National Bank’s holdings in Dropbox were worth $7,845,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also added to or reduced their stakes in the company. Empowered Funds LLC boosted 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 valued at $1,036,000 after buying an additional 2,655 shares in the last quarter. Cetera Investment Advisers raised its stake in shares of Dropbox by 10.8% during the 2nd quarter. Cetera Investment Advisers now owns 24,623 shares of the company’s stock worth $704,000 after acquiring an additional 2,405 shares in the last quarter. EverSource Wealth Advisors LLC raised its stake in shares of Dropbox by 88.0% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,681 shares of the company’s stock worth $48,000 after acquiring an additional 787 shares in the last quarter. Cresset Asset Management LLC lifted its position in Dropbox by 75.8% during the second quarter. Cresset Asset Management LLC now owns 15,230 shares of the company’s stock valued at $436,000 after acquiring an additional 6,569 shares during the last quarter. Finally, Federated Hermes Inc. lifted its position in Dropbox by 360.9% during the second quarter. Federated Hermes Inc. now owns 117,852 shares of the company’s stock valued at $3,371,000 after acquiring an additional 92,280 shares during the last quarter. 94.84% of the stock is currently owned by institutional investors.

Dropbox Price Performance

Shares of DBX opened at $30.54 on Tuesday. The company’s fifty day moving average price is $27.90 and its 200-day moving average price is $26.04. Dropbox, Inc. has a 1-year low of $21.69 and a 1-year high of $32.40. The firm has a market capitalization of $7.12 billion, a PE ratio of 16.69, a price-to-earnings-growth ratio of 3.20 and a beta of 0.66.

Dropbox (NASDAQ:DBX) last issued its earnings results on Thursday, May 7th. The company reported $0.76 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.71 by $0.05. Dropbox had a negative return on equity of 30.01% and a net margin of 18.71%.The company had revenue of $629.50 million during the quarter, compared to analyst estimates of $620.56 million. During the same quarter last year, the business posted $0.70 EPS. The firm’s quarterly revenue was up .8% on a year-over-year basis. As a group, research analysts anticipate that Dropbox, Inc. will post 2.09 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, insider William T. Yoon sold 7,230 shares of the firm’s stock in a transaction dated Monday, May 18th. The stock was sold at an average price of $27.57, for a total value of $199,331.10. Following the completion of the transaction, the insider directly owned 366,963 shares in the company, valued at $10,117,169.91. This trade represents a 1.93% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 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, CTO Ali Dasdan sold 5,666 shares of Dropbox stock in a transaction dated Monday, May 18th. The stock was sold at an average price of $27.56, for a total value of $156,154.96. Following the sale, the chief technology officer directly owned 514,611 shares of the company’s stock, valued at $14,182,679.16. This trade represents a 1.09% 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. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last ninety days, insiders sold 129,082 shares of company stock valued at $3,489,910. Insiders own 35.48% of the company’s stock.

Wall Street Analyst Weigh In

DBX has been the topic of several analyst reports. Citigroup lifted their price target on shares of Dropbox from $27.00 to $28.00 and gave the stock a “neutral” rating in a report on Monday, May 11th. Weiss Ratings reiterated a “hold (c)” rating on shares of Dropbox in a report on Monday, May 4th. Royal Bank Of Canada reissued an “outperform” rating on shares of Dropbox in a research report on Monday, June 1st. Finally, Wall Street Zen upgraded Dropbox from a “hold” rating to a “buy” rating in a research note on Sunday, June 28th. One investment analyst has rated the stock with a Buy rating, three have issued a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Reduce” and a consensus price target of $27.00.

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.