Dropbox, Inc. $DBX Shares Acquired by AlphaQuest LLC

AlphaQuest LLC lifted its stake in shares of Dropbox, Inc. (NASDAQ:DBX) by 79.6% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 59,526 shares of the company’s stock after purchasing an additional 26,380 shares during the period. AlphaQuest LLC’s holdings in Dropbox were worth $1,655,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. WealthCollab LLC grew its position in shares of Dropbox by 20.6% during the fourth quarter. WealthCollab LLC now owns 2,356 shares of the company’s stock worth $65,000 after buying an additional 403 shares in the last quarter. Lakewood Asset Management LLC grew its position in shares of Dropbox by 1.0% during the fourth quarter. Lakewood Asset Management LLC now owns 44,905 shares of the company’s stock worth $1,248,000 after buying an additional 458 shares in the last quarter. Merit Financial Group LLC grew its position in shares of Dropbox by 4.4% during the third quarter. Merit Financial Group LLC now owns 11,385 shares of the company’s stock worth $344,000 after buying an additional 480 shares in the last quarter. Rossby Financial LCC grew its position in shares of Dropbox by 128.5% during the third quarter. Rossby Financial LCC now owns 937 shares of the company’s stock worth $28,000 after buying an additional 527 shares in the last quarter. Finally, Geneos Wealth Management Inc. grew its position 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. 94.84% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the company. Wall Street Zen raised Dropbox from a “hold” rating to a “buy” rating in a research report on Saturday, May 16th. Weiss Ratings restated a “hold (c)” rating on shares of Dropbox in a research note on Monday, May 4th. William Blair restated an “underperform” rating on shares of Dropbox in a research note on Monday, March 23rd. JPMorgan Chase & Co. decreased their target price on Dropbox from $29.00 to $25.00 and set a “neutral” rating for the company in a research note on Friday, February 20th. Finally, Royal Bank Of Canada boosted their target price on Dropbox from $30.00 to $32.00 and gave the stock an “outperform” rating in a research note on Friday, May 8th. One research analyst has rated the stock with a Buy rating, three have issued a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, Dropbox currently has a consensus rating of “Reduce” and an average price target of $27.00.

Dropbox Trading Down 2.0%

Shares of NASDAQ DBX opened at $25.97 on Thursday. Dropbox, Inc. has a twelve month low of $21.69 and a twelve month high of $32.40. The stock has a 50 day moving average of $24.69 and a two-hundred day moving average of $26.32. The stock has a market cap of $6.06 billion, a P/E ratio of 14.19, a P/E/G ratio of 2.99 and a beta of 0.64.

Dropbox (NASDAQ:DBX) last issued its quarterly earnings data on Thursday, May 7th. The company reported $0.76 earnings per share for the quarter, beating analysts’ consensus estimates of $0.71 by $0.05. Dropbox had a negative return on equity of 30.01% and a net margin of 18.71%.The company had revenue of $629.50 million during the quarter, compared to analysts’ expectations of $620.56 million. During the same quarter in the previous year, the business earned $0.70 earnings per share. The firm’s revenue for the quarter was up .8% on a year-over-year basis. As a group, research analysts predict that Dropbox, Inc. will post 2.03 earnings per share for the current year.

Insider Buying and Selling

In other Dropbox news, insider William T. Yoon sold 7,230 shares of the business’s stock in a transaction that occurred on Monday, May 18th. The stock was sold at an average price of $27.57, for a total value of $199,331.10. Following the completion of the sale, the insider owned 366,963 shares in the company, valued at approximately $10,117,169.91. The trade was a 1.93% decrease in their ownership of the stock. The sale was disclosed in a 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. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Andrew William Moore sold 8,443 shares of the business’s stock in a transaction that occurred on Monday, May 18th. The shares were sold at an average price of $27.57, for a total value of $232,773.51. Following the completion of the sale, the director owned 4,737 shares of the company’s stock, valued at approximately $130,599.09. This represents a 64.06% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 339,263 shares of company stock valued at $8,428,641 in the last 90 days. Company insiders own 35.48% of the company’s stock.

Dropbox Company 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.