Impact Partnership Wealth LLC Buys 722 Shares of Dropbox, Inc. $DBX

Impact Partnership Wealth LLC increased its stake in shares of Dropbox, Inc. (NASDAQ:DBX) by 7.9% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 9,886 shares of the company’s stock after purchasing an additional 722 shares during the quarter. Impact Partnership Wealth LLC’s holdings in Dropbox were worth $283,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the stock. Elequin Capital LP raised its holdings in Dropbox by 71.0% during 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 during the last quarter. Brooklyn Investment Group raised its holdings in Dropbox by 250.3% during the 1st quarter. Brooklyn Investment Group now owns 1,387 shares of the company’s stock worth $37,000 after purchasing an additional 991 shares during the last quarter. Cullen Frost Bankers Inc. bought a new stake in Dropbox during the 2nd quarter worth about $41,000. SBI Securities Co. Ltd. lifted its holdings in Dropbox by 33.4% in the first quarter. SBI Securities Co. Ltd. now owns 1,794 shares of the company’s stock valued at $48,000 after buying an additional 449 shares during the period. Finally, UMB Bank n.a. lifted its holdings in Dropbox by 29.7% in the second quarter. UMB Bank n.a. now owns 3,243 shares of the company’s stock valued at $93,000 after buying an additional 742 shares during the period. 94.84% of the stock is owned by institutional investors.

Dropbox Stock Performance

Shares of NASDAQ:DBX opened at $28.76 on Friday. Dropbox, Inc. has a 52 week low of $24.42 and a 52 week high of $33.33. The company has a market capitalization of $7.76 billion, a PE ratio of 17.54, a PEG ratio of 3.74 and a beta of 0.67. The company has a 50 day moving average price of $29.72 and a two-hundred day moving average price of $28.66.

Dropbox (NASDAQ:DBX) last issued its earnings results on Thursday, August 7th. The company reported $0.71 EPS for the quarter, beating the consensus estimate of $0.63 by $0.08. Dropbox had a net margin of 19.17% and a negative return on equity of 61.31%. The firm had revenue of $625.70 million during the quarter, compared to the consensus estimate of $618.60 million. During the same quarter in the prior year, the firm earned $0.60 earnings per share. The business’s quarterly revenue was down 1.4% on a year-over-year basis. On average, sell-side analysts forecast that Dropbox, Inc. will post 1.64 earnings per share for the current year.

Insider Transactions at Dropbox

In other Dropbox news, CFO Timothy Regan sold 1,500 shares of the company’s stock in a transaction that occurred on Wednesday, October 15th. The shares were sold at an average price of $28.62, for a total value of $42,930.00. Following the completion of the sale, the chief financial officer owned 470,121 shares of the company’s stock, valued at approximately $13,454,863.02. This represents a 0.32% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Sarah Elizabeth Schubach sold 1,066 shares of the business’s stock in a transaction that occurred on Wednesday, October 15th. The shares were sold at an average price of $28.62, for a total value of $30,508.92. Following the completion of the transaction, the chief accounting officer owned 104,657 shares of the company’s stock, valued at $2,995,283.34. This represents a 1.01% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 316,132 shares of company stock valued at $9,178,284. Corporate insiders own 29.95% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently weighed in on DBX shares. UBS Group lowered shares of Dropbox from a “neutral” rating to a “sell” rating and cut their price objective for the company from $29.00 to $27.00 in a report on Thursday, September 18th. Weiss Ratings restated a “hold (c+)” rating on shares of Dropbox in a report on Wednesday, October 8th. Finally, Wall Street Zen lowered shares of Dropbox from a “buy” rating to a “hold” rating in a report on Sunday, October 26th. Three research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, Dropbox has a consensus rating of “Reduce” and an average price target of $29.67.

About Dropbox

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.