Quantinno Capital Management LP Reduces Stock Position in Dropbox, Inc. $DBX

Quantinno Capital Management LP cut its holdings in Dropbox, Inc. (NASDAQ:DBX) by 30.5% during the first quarter, Holdings Channel reports. The institutional investor owned 1,493,515 shares of the company’s stock after selling 656,679 shares during the period. Quantinno Capital Management LP’s holdings in Dropbox were worth $33,933,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of DBX. LSV Asset Management boosted its position in shares of Dropbox by 1.1% during the 4th quarter. LSV Asset Management now owns 11,735,641 shares of the company’s stock worth $326,251,000 after acquiring an additional 121,999 shares in the last quarter. Arrowstreet Capital Limited Partnership increased its holdings in shares of Dropbox by 12.7% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 8,533,736 shares of the company’s stock valued at $193,886,000 after acquiring an additional 960,109 shares during the last quarter. Jacobs Levy Equity Management Inc. raised its position in shares of Dropbox by 1.4% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 5,095,485 shares of the company’s stock worth $153,935,000 after acquiring an additional 70,867 shares in the last quarter. Allianz Asset Management GmbH raised its position in shares of Dropbox by 28.1% during the 4th quarter. Allianz Asset Management GmbH now owns 2,720,372 shares of the company’s stock worth $75,626,000 after acquiring an additional 596,440 shares in the last quarter. Finally, Robeco Institutional Asset Management B.V. lifted its stake in Dropbox by 22.5% during the fourth quarter. Robeco Institutional Asset Management B.V. now owns 2,518,534 shares of the company’s stock worth $70,015,000 after purchasing an additional 463,258 shares during the last quarter. 94.84% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, CTO Ali Dasdan sold 5,666 shares of the business’s 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 transaction, the chief technology officer owned 514,611 shares in the company, valued at $14,182,679.16. The trade was a 1.09% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at 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, CEO Ashraf Alkarmi sold 22,700 shares of the stock in a transaction that occurred on Tuesday, June 2nd. The stock was sold at an average price of $27.86, for a total value of $632,422.00. Following the sale, the chief executive officer directly owned 1,080,746 shares of the company’s stock, valued at $30,109,583.56. The trade was a 2.06% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 127,313 shares of company stock valued at $3,447,542 in the last quarter. Corporate insiders own 35.48% of the company’s stock.

Dropbox Trading Down 3.7%

DBX stock opened at $32.11 on Friday. The company has a market capitalization of $7.49 billion, a P/E ratio of 17.55, a PEG ratio of 3.65 and a beta of 0.66. Dropbox, Inc. has a twelve month low of $21.69 and a twelve month high of $33.54. The business has a 50 day simple moving average of $28.20 and a 200-day simple moving average of $26.15.

Dropbox (NASDAQ:DBX) last announced its earnings results on Thursday, May 7th. The company reported $0.76 EPS for the quarter, beating analysts’ consensus estimates of $0.71 by $0.05. Dropbox had a net margin of 18.71% and a negative return on equity of 30.01%. The business had revenue of $629.50 million for the quarter, compared to analysts’ expectations of $620.56 million. During the same period in the previous year, the company posted $0.70 EPS. The company’s quarterly revenue was up .8% on a year-over-year basis. Research analysts predict that Dropbox, Inc. will post 2.09 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on DBX shares. Weiss Ratings reaffirmed 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 report on Monday, June 1st. Wall Street Zen upgraded shares of Dropbox from a “hold” rating to a “buy” rating in a research report on Sunday, June 28th. Finally, Citigroup upped their target price on shares of Dropbox from $27.00 to $28.00 and gave the company a “neutral” rating in a report on Monday, May 11th. One analyst has rated the stock with a Buy rating, three have given a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, the stock has an average rating of “Reduce” and an average price target of $27.00.

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.