23,376 Shares in Dropbox, Inc. $DBX Purchased by Penserra Capital Management LLC

Penserra Capital Management LLC acquired a new position in shares of Dropbox, Inc. (NASDAQ:DBX) in the 3rd quarter, according to its most recent filing with the SEC. The fund acquired 23,376 shares of the company’s stock, valued at approximately $706,000.

A number of other hedge funds have also made changes to their positions in the company. Neo Ivy Capital Management purchased a new stake in shares of Dropbox during the second quarter worth approximately $30,000. First Horizon Corp acquired a new stake in Dropbox during the 3rd quarter worth $31,000. LRI Investments LLC grew its holdings in shares of Dropbox by 666.7% during the third quarter. LRI Investments LLC now owns 1,150 shares of the company’s stock worth $35,000 after buying an additional 1,000 shares in the last quarter. Geneos Wealth Management Inc. grew its holdings in shares of Dropbox by 78.0% during the second quarter. Geneos Wealth Management Inc. now owns 1,273 shares of the company’s stock worth $36,000 after buying an additional 558 shares in the last quarter. Finally, Cullen Frost Bankers Inc. acquired a new stake in shares of Dropbox in the second quarter valued at about $41,000. Institutional investors and hedge funds own 94.84% of the company’s stock.

Dropbox Trading Up 2.3%

Dropbox stock opened at $25.00 on Friday. The company has a 50-day moving average price of $27.33 and a 200 day moving average price of $28.55. Dropbox, Inc. has a 12-month low of $24.41 and a 12-month high of $33.27. The stock has a market cap of $6.47 billion, a P/E ratio of 14.12, a PEG ratio of 2.04 and a beta of 0.63.

Dropbox (NASDAQ:DBX) last posted its quarterly earnings results on Thursday, November 6th. The company reported $0.74 earnings per share for the quarter, beating the consensus estimate of $0.64 by $0.10. The business had revenue of $634.40 million during 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 business’s revenue for the quarter was down .7% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.60 EPS. As a group, analysts forecast that Dropbox, Inc. will post 1.64 EPS for the current year.

Analyst Ratings Changes

A number of equities analysts recently weighed in on DBX shares. Royal Bank Of Canada lowered their price target on shares of Dropbox from $38.00 to $35.00 and set an “outperform” rating on the stock in a research report on Monday, January 5th. Wall Street Zen lowered shares of Dropbox from a “buy” rating to a “hold” rating in a research note on Friday, January 23rd. Finally, Weiss Ratings restated a “hold (c+)” rating on shares of Dropbox in a research report on Wednesday, January 21st. One equities research analyst has rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, Dropbox presently has a consensus rating of “Hold” and a consensus target price of $31.33.

Insider Activity at Dropbox

In other news, insider William T. Yoon sold 7,142 shares of the company’s stock in a transaction on Tuesday, November 18th. The stock was sold at an average price of $29.19, for a total value of $208,474.98. Following the transaction, the insider owned 206,228 shares of the company’s stock, valued at $6,019,795.32. This represents a 3.35% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Andrew Houston sold 164,502 shares of the stock in a transaction on Monday, February 2nd. The stock was sold at an average price of $25.66, for a total value of $4,221,121.32. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 568,556 shares of company stock worth $15,851,617. Insiders own 29.95% of the company’s stock.

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.