Campbell & CO Investment Adviser LLC Has $1.65 Million Position in Dropbox, Inc. $DBX

Campbell & CO Investment Adviser LLC cut its stake in Dropbox, Inc. (NASDAQ:DBX) by 68.0% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 54,557 shares of the company’s stock after selling 116,143 shares during the quarter. Campbell & CO Investment Adviser LLC’s holdings in Dropbox were worth $1,648,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Empowered Funds LLC increased its stake in Dropbox by 7.3% in the first quarter. Empowered Funds LLC now owns 38,795 shares of the company’s stock valued at $1,036,000 after purchasing an additional 2,655 shares in the last quarter. Wealth Enhancement Advisory Services LLC boosted its position in shares of Dropbox by 11.9% during the second quarter. Wealth Enhancement Advisory Services LLC now owns 48,224 shares of the company’s stock worth $1,350,000 after purchasing an additional 5,136 shares in the last quarter. Assenagon Asset Management S.A. grew its holdings in shares of Dropbox by 0.8% in the 2nd quarter. Assenagon Asset Management S.A. now owns 88,984 shares of the company’s stock valued at $2,545,000 after buying an additional 691 shares during the period. UMB Bank n.a. increased its position in shares of Dropbox by 29.7% in the 2nd 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 in the last quarter. Finally, Wedge Capital Management L L P NC raised its stake in Dropbox by 4.0% during the 2nd quarter. Wedge Capital Management L L P NC now owns 2,227,560 shares of the company’s stock worth $63,708,000 after buying an additional 86,534 shares during the period. Institutional investors own 94.84% of the company’s stock.

Dropbox Price Performance

DBX opened at $26.13 on Friday. The company has a market capitalization of $6.76 billion, a price-to-earnings ratio of 14.76, a P/E/G ratio of 2.13 and a beta of 0.62. The business’s 50-day moving average price is $28.59 and its two-hundred day moving average price is $28.71. Dropbox, Inc. has a 1 year low of $24.42 and a 1 year high of $33.33.

Dropbox (NASDAQ:DBX) last posted its quarterly earnings data 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. Dropbox had a negative return on equity of 49.51% and a net margin of 19.87%.The business had revenue of $634.40 million during the quarter, compared to the consensus estimate of $623.59 million. During the same period last year, the company earned $0.60 earnings per share. Dropbox’s quarterly revenue was down .7% on a year-over-year basis. Sell-side analysts anticipate that Dropbox, Inc. will post 1.64 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on DBX. Wall Street Zen raised Dropbox from a “hold” rating to a “buy” rating in a research note on Saturday, November 8th. Royal Bank Of Canada cut their price objective on Dropbox from $38.00 to $35.00 and set an “outperform” rating on the stock in a report on Monday, January 5th. Finally, Weiss Ratings reissued a “hold (c+)” rating on shares of Dropbox in a research note on Wednesday, October 8th. One analyst has rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, Dropbox currently has an average rating of “Hold” and an average price target of $31.33.

Insider Buying and Selling at Dropbox

In other news, CTO Ali Dasdan sold 5,666 shares of Dropbox stock in a transaction that occurred on Tuesday, November 18th. The shares were sold at an average price of $29.19, for a total value of $165,390.54. Following the sale, the chief technology officer directly owned 526,140 shares in the company, valued at $15,358,026.60. This trade represents a 1.07% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Andrew Houston sold 101,167 shares of the business’s stock in a transaction on Friday, November 14th. The stock was sold at an average price of $30.23, for a total transaction of $3,058,278.41. The disclosure for this sale is available in the SEC filing. Insiders sold 405,452 shares of company stock valued at $11,672,021 over the last quarter. Insiders own 29.95% 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.