Hussman Strategic Advisors Inc. Purchases 21,000 Shares of Dropbox, Inc. $DBX

Hussman Strategic Advisors Inc. increased its position in shares of Dropbox, Inc. (NASDAQ:DBX) by 25.0% during the third quarter, HoldingsChannel.com reports. The firm owned 105,000 shares of the company’s stock after buying an additional 21,000 shares during the period. Dropbox accounts for about 0.7% of Hussman Strategic Advisors Inc.’s investment portfolio, making the stock its 25th largest holding. Hussman Strategic Advisors Inc.’s holdings in Dropbox were worth $3,172,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of the company. Neo Ivy Capital Management bought a new position in Dropbox in the second quarter worth $30,000. First Horizon Corp acquired a new position in shares of Dropbox in the 3rd quarter valued at $31,000. Geneos Wealth Management Inc. raised its stake in shares of Dropbox by 78.0% in the 2nd quarter. Geneos Wealth Management Inc. now owns 1,273 shares of the company’s stock valued at $36,000 after buying an additional 558 shares in the last quarter. Cullen Frost Bankers Inc. bought a new position in shares of Dropbox during the 2nd quarter worth about $41,000. Finally, SJS Investment Consulting Inc. boosted its position in shares of Dropbox by 6,319.0% during the 3rd quarter. SJS Investment Consulting Inc. now owns 1,348 shares of the company’s stock valued at $41,000 after acquiring an additional 1,327 shares in the last quarter. 94.84% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the stock. Weiss Ratings reissued a “hold (c+)” rating on shares of Dropbox in a research report on Wednesday, January 21st. Royal Bank Of Canada decreased 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, Wall Street Zen cut Dropbox from a “buy” rating to a “hold” rating in a report on Friday, January 23rd. One research analyst has rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $31.33.

Dropbox Stock Down 0.2%

Shares of Dropbox stock opened at $26.53 on Wednesday. Dropbox, Inc. has a 12-month low of $24.42 and a 12-month high of $33.33. The stock has a market capitalization of $6.86 billion, a P/E ratio of 14.99, a price-to-earnings-growth ratio of 2.17 and a beta of 0.62. The company has a 50-day simple moving average of $28.00 and a 200 day simple moving average of $28.65.

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

Insiders Place Their Bets

In related news, insider Ashraf Alkarmi sold 10,098 shares of the stock in a transaction that occurred on Tuesday, November 18th. The stock was sold at an average price of $29.18, for a total transaction of $294,659.64. Following the sale, the insider directly owned 435,810 shares in the company, valued at $12,716,935.80. This represents a 2.26% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Andrew Houston sold 101,167 shares of the firm’s stock in a transaction on Friday, November 14th. The shares were sold at an average price of $30.23, for a total value of $3,058,278.41. The disclosure for this sale is available in the SEC filing. Insiders sold 406,620 shares of company stock valued at $11,703,370 over the last quarter. 28.59% of the stock is owned by insiders.

About Dropbox

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.