Dropbox, Inc. $DBX Position Increased by Cwm LLC

Cwm LLC boosted its holdings in Dropbox, Inc. (NASDAQ:DBX) by 16.9% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 217,391 shares of the company’s stock after buying an additional 31,477 shares during the quarter. Cwm LLC’s holdings in Dropbox were worth $6,567,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of DBX. CreativeOne Wealth LLC raised its position in shares of Dropbox by 6.8% during the first quarter. CreativeOne Wealth LLC now owns 13,114 shares of the company’s stock worth $350,000 after purchasing an additional 840 shares during the period. Quarry LP increased its stake in Dropbox by 65.2% in the 1st quarter. Quarry LP now owns 6,907 shares of the company’s stock worth $184,000 after purchasing an additional 2,726 shares in the last quarter. Graham Capital Management L.P. purchased a new position in Dropbox in the 1st quarter worth about $1,330,000. Maverick Capital Ltd. acquired a new stake in Dropbox during the 1st quarter worth about $853,000. Finally, Dark Forest Capital Management LP purchased a new stake in Dropbox during the first quarter valued at about $4,368,000. Institutional investors and hedge funds own 94.84% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently weighed in on DBX. UBS Group downgraded shares of Dropbox from a “neutral” rating to a “sell” rating and dropped their target price for the stock from $29.00 to $27.00 in a research report on Thursday, September 18th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Dropbox in a research report on Wednesday, October 8th. Royal Bank Of Canada boosted their target price on shares of Dropbox from $35.00 to $38.00 and gave the company an “outperform” rating in a research note on Friday, November 7th. Finally, Wall Street Zen raised Dropbox from a “hold” rating to a “buy” rating in a research report on Saturday, November 8th. One analyst has rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, Dropbox presently has an average rating of “Hold” and an average price target of $31.75.

Dropbox Stock Performance

Shares of DBX opened at $27.66 on Wednesday. The company has a market capitalization of $7.16 billion, a PE ratio of 15.63, a PEG ratio of 2.39 and a beta of 0.63. The company’s 50 day moving average price is $29.14 and its 200 day moving average price is $28.84. Dropbox, Inc. has a 52 week low of $24.42 and a 52 week high of $33.33.

Dropbox (NASDAQ:DBX) last released its earnings results on Thursday, November 6th. The company reported $0.74 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.64 by $0.10. The company had revenue of $634.40 million during the quarter, compared to the consensus estimate of $623.59 million. Dropbox had a net margin of 19.87% and a negative return on equity of 49.51%. The company’s revenue was down .7% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.60 EPS. On average, equities analysts forecast that Dropbox, Inc. will post 1.64 earnings per share for the current fiscal year.

Insider Buying and Selling at Dropbox

In related news, CAO Sarah Elizabeth Schubach sold 1,168 shares of Dropbox stock in a transaction on Monday, December 1st. The stock was sold at an average price of $29.60, for a total transaction of $34,572.80. Following the completion of the sale, the chief accounting officer owned 96,206 shares of the company’s stock, valued at approximately $2,847,697.60. This trade represents a 1.20% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CTO Ali Dasdan sold 5,666 shares of the business’s stock in a transaction dated Monday, November 24th. The shares were sold at an average price of $30.00, for a total value of $169,980.00. Following the completion of the transaction, the chief technology officer owned 520,474 shares in the company, valued at $15,614,220. This trade represents a 1.08% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 254,182 shares of company stock valued at $7,567,514 in the last quarter. Corporate insiders own 28.59% of the company’s stock.

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.