39,279 Shares in Dropbox, Inc. $DBX Acquired by Fox Run Management L.L.C.

Key Points

• Fox Run Management L.L.C. opened a new position in Dropbox during the fourth quarter, buying 39,279 shares valued at about $1.09 million.
• Dropbox has seen notable insider selling, including CTO Ali Dasdan and insider William T. Yoon, with 239,883 shares sold by insiders over the past three months.
• The company recently beat earnings expectations, reporting $0.76 EPS versus $0.71 expected, while analysts currently hold a mixed view with a consensus rating of "Reduce" and an average price target of $27.

Fox Run Management L.L.C. bought a new position in Dropbox, Inc. (NASDAQ:DBX - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 39,279 shares of the company's stock, valued at approximately $1,092,000.

Other hedge funds have also modified their holdings of the company. Rossby Financial LCC boosted its position in shares of Dropbox by 128.5% in the third quarter. Rossby Financial LCC now owns 937 shares of the company's stock worth $28,000 after acquiring an additional 527 shares during the last quarter. Palisade Asset Management LLC acquired a new stake in shares of Dropbox in the third quarter worth approximately $30,000. Larson Financial Group LLC boosted its position in shares of Dropbox by 228.0% in the fourth quarter. Larson Financial Group LLC now owns 1,138 shares of the company's stock worth $32,000 after acquiring an additional 791 shares during the last quarter. Geneos Wealth Management Inc. boosted its position in shares of Dropbox by 78.0% in the second quarter. Geneos Wealth Management Inc. now owns 1,273 shares of the company's stock worth $36,000 after acquiring an additional 558 shares during the last quarter. Finally, Hantz Financial Services Inc. boosted its position in shares of Dropbox by 342.8% in the third quarter. Hantz Financial Services Inc. now owns 1,448 shares of the company's stock worth $44,000 after acquiring an additional 1,121 shares during the last quarter. 94.84% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Dropbox

In other news, CTO Ali Dasdan sold 5,666 shares of Dropbox stock in a transaction that occurred on Monday, May 18th. The shares were sold at an average price of $27.56, for a total transaction of $156,154.96. Following the sale, the chief technology officer owned 514,611 shares in the company, valued at $14,182,679.16. This trade represents a 1.09% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at 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, insider William T. Yoon sold 7,230 shares of the firm'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 transaction of $199,331.10. Following the sale, the insider directly owned 366,963 shares of the company's stock, valued at $10,117,169.91. The trade was a 1.93% decrease in their position. 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 three months, insiders have sold 239,883 shares of company stock valued at $6,006,972. 35.48% of the stock is currently owned by corporate insiders.

Dropbox Stock Up 0.5%

DBX opened at $27.43 on Wednesday. The firm has a market capitalization of $6.40 billion, a P/E ratio of 14.99, a P/E/G ratio of 2.99 and a beta of 0.67. The firm's 50 day moving average is $25.31 and its 200-day moving average is $26.14. Dropbox, Inc. has a 52-week low of $21.69 and a 52-week high of $32.40.

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

Wall Street Analyst Weigh In

Several research analysts recently commented on the stock. JPMorgan Chase & Co. cut their price target on shares of Dropbox from $29.00 to $25.00 and set a "neutral" rating on the stock in a report on Friday, February 20th. Weiss Ratings restated a "hold (c)" rating on shares of Dropbox in a report on Monday, May 4th. UBS Group cut their price target on shares of Dropbox from $27.00 to $23.00 and set a "sell" rating on the stock in a report on Friday, February 20th. Royal Bank Of Canada restated an "outperform" rating on shares of Dropbox in a report on Monday, June 1st. Finally, Wall Street Zen upgraded shares of Dropbox from a "hold" rating to a "buy" rating in a report on Saturday, May 16th. One equities research analyst has rated the stock with a Buy rating, three have given a Hold rating and two have given a Sell rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Reduce" and an average price target of $27.00.

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.

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