Dropbox, Inc. $DBX Stock Position Increased by DGS Capital Management LLC

DGS Capital Management LLC lifted its position in Dropbox, Inc. (NASDAQ:DBX) by 64.7% during the first quarter, Holdings Channel reports. The institutional investor owned 56,603 shares of the company’s stock after buying an additional 22,243 shares during the quarter. DGS Capital Management LLC’s holdings in Dropbox were worth $1,286,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the company. Empowered Funds LLC boosted its stake in Dropbox by 7.3% during the first quarter. Empowered Funds LLC now owns 38,795 shares of the company’s stock valued at $1,036,000 after buying an additional 2,655 shares in the last quarter. Cetera Investment Advisers raised its position in Dropbox by 10.8% in the second quarter. Cetera Investment Advisers now owns 24,623 shares of the company’s stock worth $704,000 after acquiring an additional 2,405 shares in the last quarter. EverSource Wealth Advisors LLC raised its position in Dropbox by 88.0% in the second quarter. EverSource Wealth Advisors LLC now owns 1,681 shares of the company’s stock worth $48,000 after acquiring an additional 787 shares in the last quarter. Cresset Asset Management LLC lifted its holdings in Dropbox by 75.8% in the 2nd quarter. Cresset Asset Management LLC now owns 15,230 shares of the company’s stock valued at $436,000 after acquiring an additional 6,569 shares during the last quarter. Finally, Federated Hermes Inc. lifted its holdings in Dropbox by 360.9% in the 2nd quarter. Federated Hermes Inc. now owns 117,852 shares of the company’s stock valued at $3,371,000 after acquiring an additional 92,280 shares during the last quarter. Institutional investors and hedge funds own 94.84% of the company’s stock.

Insider Buying and Selling

In other Dropbox news, CEO Andrew Houston sold 37,498 shares of the firm’s stock in a transaction dated Thursday, May 14th. The shares were sold at an average price of $25.96, for a total value of $973,448.08. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CTO Ali Dasdan sold 5,666 shares of Dropbox stock in a transaction that occurred on Monday, May 18th. The stock was sold at an average price of $27.56, for a total transaction of $156,154.96. Following the completion of the transaction, the chief technology officer directly owned 514,611 shares in the company, valued at approximately $14,182,679.16. This trade represents a 1.09% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last 90 days, insiders sold 128,497 shares of company stock valued at $3,464,440. Company insiders own 35.48% of the company’s stock.

Dropbox Price Performance

Shares of NASDAQ DBX opened at $28.56 on Monday. Dropbox, Inc. has a 12 month low of $21.69 and a 12 month high of $32.40. The company has a market cap of $6.66 billion, a price-to-earnings ratio of 15.61, a P/E/G ratio of 3.13 and a beta of 0.66. The business has a fifty day simple moving average of $26.61 and a 200-day simple moving average of $25.86.

Dropbox (NASDAQ:DBX) last issued its quarterly earnings results on Thursday, May 7th. The company reported $0.76 earnings per share for the quarter, topping analysts’ consensus estimates of $0.71 by $0.05. The firm had revenue of $629.50 million for the quarter, compared to analysts’ expectations of $620.56 million. Dropbox had a negative return on equity of 30.01% and a net margin of 18.71%.Dropbox’s revenue was up .8% on a year-over-year basis. During the same quarter last year, the business posted $0.70 EPS. As a group, sell-side analysts expect that Dropbox, Inc. will post 2.09 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on DBX. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Dropbox in a research note on Monday, May 4th. Wall Street Zen raised shares of Dropbox from a “hold” rating to a “buy” rating in a research note on Sunday, June 28th. Citigroup raised their target price on shares of Dropbox from $27.00 to $28.00 and gave the stock a “neutral” rating in a report on Monday, May 11th. Royal Bank Of Canada restated an “outperform” rating on shares of Dropbox in a research report on Monday, June 1st. Finally, William Blair reaffirmed an “underperform” rating on shares of Dropbox in a report on Monday, March 23rd. One equities research analyst has rated the stock with a Buy rating, three have assigned a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Reduce” and an average target price of $27.00.

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.