Dropbox, Inc. $DBX Stake Boosted by AlphaQuest LLC

AlphaQuest LLC increased its stake in Dropbox, Inc. (NASDAQ:DBX) by 61.4% during the second quarter, HoldingsChannel reports. The firm owned 35,601 shares of the company’s stock after acquiring an additional 13,550 shares during the period. AlphaQuest LLC’s holdings in Dropbox were worth $1,018,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Elequin Capital LP increased its stake in Dropbox by 71.0% in the 1st quarter. Elequin Capital LP now owns 1,130 shares of the company’s stock worth $30,000 after purchasing an additional 469 shares in the last quarter. Brooklyn Investment Group grew its stake in Dropbox by 250.3% during the 1st quarter. Brooklyn Investment Group now owns 1,387 shares of the company’s stock valued at $37,000 after acquiring an additional 991 shares in the last quarter. Cullen Frost Bankers Inc. purchased a new position in Dropbox during the 2nd quarter valued at about $41,000. SBI Securities Co. Ltd. grew its stake in Dropbox by 33.4% during the 1st quarter. SBI Securities Co. Ltd. now owns 1,794 shares of the company’s stock valued at $48,000 after acquiring an additional 449 shares in the last quarter. Finally, UMB Bank n.a. grew its stake in Dropbox by 29.7% during the 2nd quarter. UMB Bank n.a. now owns 3,243 shares of the company’s stock valued at $93,000 after acquiring an additional 742 shares in the last quarter. Hedge funds and other institutional investors own 94.84% of the company’s stock.

Dropbox Stock Performance

DBX opened at $29.36 on Friday. The business has a 50 day moving average price of $29.67 and a 200 day moving average price of $28.62. Dropbox, Inc. has a twelve month low of $24.42 and a twelve month high of $33.33. The firm has a market cap of $7.92 billion, a P/E ratio of 17.90, a price-to-earnings-growth ratio of 3.87 and a beta of 0.67.

Dropbox (NASDAQ:DBX) last posted its earnings results on Thursday, August 7th. The company reported $0.71 earnings per share for the quarter, topping the consensus estimate of $0.63 by $0.08. Dropbox had a negative return on equity of 61.31% and a net margin of 19.17%.The firm had revenue of $625.70 million during the quarter, compared to analyst estimates of $618.60 million. During the same period in the previous year, the company earned $0.60 EPS. The company’s revenue for the quarter was down 1.4% on a year-over-year basis. As a group, analysts anticipate that Dropbox, Inc. will post 1.64 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

DBX has been the topic of several research analyst reports. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Dropbox in a research note on Friday. Wall Street Zen cut Dropbox from a “buy” rating to a “hold” rating in a research note on Sunday. Finally, UBS Group cut Dropbox from a “neutral” rating to a “sell” rating and lowered their target price for the company from $29.00 to $27.00 in a research note on Thursday, September 18th. Three analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Reduce” and an average price target of $29.67.

Insiders Place Their Bets

In related news, insider William T. Yoon sold 11,430 shares of the company’s stock in a transaction on Monday, September 8th. The stock was sold at an average price of $30.16, for a total value of $344,728.80. Following the completion of the transaction, the insider directly owned 223,662 shares in the company, valued at approximately $6,745,645.92. This represents a 4.86% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CTO Ali Dasdan sold 12,812 shares of the company’s stock in a transaction on Monday, September 8th. The shares were sold at an average price of $30.00, for a total value of $384,360.00. Following the completion of the transaction, the chief technology officer owned 551,060 shares of the company’s stock, valued at $16,531,800. The trade was a 2.27% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 318,632 shares of company stock valued at $9,248,234 in the last ninety days. 29.95% of the stock is currently owned by insiders.

Dropbox Profile

Dropbox, Inc provides a content collaboration platform worldwide. The company's platform allows individuals, families, teams, and organizations to collaborate and sign up for free through its website or app, as well as upgrade to a paid subscription plan for premium features. It serves customers in professional services, technology, media, education, industrial, consumer and retail, and financial services industries.