Brevan Howard Capital Management LP Sells 54,592 Shares of Dropbox, Inc. (NASDAQ:DBX)

Brevan Howard Capital Management LP decreased its position in shares of Dropbox, Inc. (NASDAQ:DBX - Free Report) by 73.3% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 19,891 shares of the company's stock after selling 54,592 shares during the period. Brevan Howard Capital Management LP's holdings in Dropbox were worth $598,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of the company. Cooper Financial Group increased its stake in shares of Dropbox by 39.8% in the fourth quarter. Cooper Financial Group now owns 22,466 shares of the company's stock worth $675,000 after purchasing an additional 6,395 shares during the period. Oak Thistle LLC increased its holdings in shares of Dropbox by 70.4% during the fourth quarter. Oak Thistle LLC now owns 32,249 shares of the company's stock worth $969,000 after buying an additional 13,320 shares in the last quarter. Empirical Asset Management LLC bought a new position in shares of Dropbox in the fourth quarter valued at approximately $229,000. Aaron Wealth Advisors LLC boosted its holdings in shares of Dropbox by 4.8% in the 4th quarter. Aaron Wealth Advisors LLC now owns 10,151 shares of the company's stock worth $305,000 after acquiring an additional 461 shares in the last quarter. Finally, Nisa Investment Advisors LLC lifted its holdings in Dropbox by 10.0% during the 4th quarter. Nisa Investment Advisors LLC now owns 5,389 shares of the company's stock worth $162,000 after buying an additional 490 shares in the last quarter. Institutional investors and hedge funds own 94.84% of the company's stock.

Dropbox Stock Performance

Dropbox stock traded up $0.41 during midday trading on Tuesday, reaching $29.70. 3,924,689 shares of the company's stock were exchanged, compared to its average volume of 3,603,095. Dropbox, Inc. has a 52 week low of $20.68 and a 52 week high of $33.33. The firm has a market cap of $8.96 billion, a price-to-earnings ratio of 21.06, a P/E/G ratio of 1.70 and a beta of 0.68. The stock's 50-day simple moving average is $27.14 and its 200 day simple moving average is $28.58.

Dropbox (NASDAQ:DBX - Get Free Report) last issued its quarterly earnings data on Thursday, May 8th. The company reported $0.70 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.62 by $0.08. Dropbox had a negative return on equity of 132.63% and a net margin of 17.75%. The company had revenue of $624.70 million during the quarter, compared to analysts' expectations of $619.56 million. During the same quarter in the previous year, the company posted $0.58 earnings per share. The business's revenue was down 1.0% on a year-over-year basis. Research analysts forecast that Dropbox, Inc. will post 1.64 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on DBX. Citigroup upped their price objective on Dropbox from $30.00 to $32.00 and gave the stock a "neutral" rating in a report on Friday. UBS Group upped their price objective on shares of Dropbox from $30.00 to $31.00 and gave the company a "buy" rating in a research report on Friday.

Insider Transactions at Dropbox

In other Dropbox news, CFO Timothy Regan sold 2,500 shares of Dropbox stock in a transaction dated Friday, March 28th. The stock was sold at an average price of $26.57, for a total value of $66,425.00. Following the transaction, the chief financial officer now owns 367,791 shares in the company, valued at $9,772,206.87. The trade was a 0.68% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Eric Cox sold 3,765 shares of the business's stock in a transaction dated Thursday, February 27th. The stock was sold at an average price of $26.30, for a total value of $99,019.50. Following the transaction, the insider now directly owns 309,550 shares of the company's stock, valued at approximately $8,141,165. The trade was a 1.20% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 11,265 shares of company stock worth $303,520 over the last quarter. Company insiders own 29.95% of the company's stock.

Dropbox Company Profile

Dropbox, Inc provides a content collaboration platform worldwide. The company's platform allows individuals, families, teams, and organizations to collaborate and sign up for free through its website or app, as well as upgrade to a paid subscription plan for premium features. It serves customers in professional services, technology, media, education, industrial, consumer and retail, and financial services industries.