85,900 Shares in Dropbox, Inc. $DBX Bought by Jump Financial LLC

Key Points

• Jump Financial LLC acquired 85,900 shares of Dropbox, Inc. valued at approximately $2.29 million, according to its recent SEC filing.
• Dropbox reported earnings of $0.71 per share for the last quarter, exceeding analysts' estimates, but its revenue fell by 1.4% year-over-year.
• Insiders have sold a significant number of shares in the last ninety days, totaling over $15.9 million, indicating a decrease in their ownership stakes.

Jump Financial LLC acquired a new position in shares of Dropbox, Inc. (NASDAQ:DBX - Free Report) in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm acquired 85,900 shares of the company's stock, valued at approximately $2,294,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Elequin Capital LP lifted its stake in Dropbox by 71.0% in the 1st quarter. Elequin Capital LP now owns 1,130 shares of the company's stock valued at $30,000 after acquiring an additional 469 shares in the last quarter. True Wealth Design LLC raised its holdings in shares of Dropbox by 191.0% in the fourth quarter. True Wealth Design LLC now owns 1,036 shares of the company's stock valued at $31,000 after purchasing an additional 680 shares during the last quarter. Brooklyn Investment Group lifted its position in shares of Dropbox by 250.3% in the first quarter. Brooklyn Investment Group now owns 1,387 shares of the company's stock worth $37,000 after purchasing an additional 991 shares in the last quarter. SBI Securities Co. Ltd. lifted its position in shares of Dropbox by 33.4% in the first quarter. SBI Securities Co. Ltd. now owns 1,794 shares of the company's stock worth $48,000 after purchasing an additional 449 shares in the last quarter. Finally, Fifth Third Bancorp boosted its holdings in Dropbox by 27.3% during the first quarter. Fifth Third Bancorp now owns 2,288 shares of the company's stock worth $61,000 after purchasing an additional 490 shares during the last quarter. Institutional investors and hedge funds own 94.84% of the company's stock.

Dropbox Stock Performance

Dropbox stock traded up $0.14 during midday trading on Friday, reaching $29.06. 2,596,203 shares of the company's stock were exchanged, compared to its average volume of 3,648,723. The stock's 50-day simple moving average is $27.69 and its 200 day simple moving average is $27.85. The firm has a market cap of $7.84 billion, a price-to-earnings ratio of 17.72, a P/E/G ratio of 3.84 and a beta of 0.64. Dropbox, Inc. has a 52 week low of $22.72 and a 52 week high of $33.33.

Dropbox (NASDAQ:DBX - Get Free Report) last posted its earnings results on Thursday, August 7th. The company reported $0.71 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.63 by $0.08. Dropbox had a net margin of 19.17% and a negative return on equity of 61.31%. The company had revenue of $625.70 million during the quarter, compared to analysts' expectations of $618.60 million. During the same quarter last year, the company posted $0.60 EPS. Dropbox's quarterly revenue was down 1.4% compared to the same quarter last year. Research analysts forecast that Dropbox, Inc. will post 1.64 earnings per share for the current year.

Analyst Upgrades and Downgrades

DBX has been the subject of a number of analyst reports. UBS Group decreased their target price on shares of Dropbox from $31.00 to $29.00 and set a "neutral" rating for the company in a research report on Friday, August 8th. Citigroup increased their price objective on shares of Dropbox from $30.00 to $32.00 and gave the stock a "neutral" rating in a research note on Friday, May 9th. Three investment analysts have rated the stock with a Hold rating, Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $30.33.

Insider Buying and Selling

In related news, CTO Ali Dasdan sold 5,666 shares of the company's stock in a transaction dated Monday, August 18th. The shares were sold at an average price of $27.30, for a total value of $154,681.80. Following the transaction, the chief technology officer directly owned 563,872 shares in the company, valued at approximately $15,393,705.60. This represents a 0.99% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Abhay Parasnis sold 3,564 shares of Dropbox stock in a transaction dated Wednesday, August 20th. The stock was sold at an average price of $28.26, for a total transaction of $100,718.64. Following the completion of the sale, the director owned 40,522 shares of the company's stock, valued at $1,145,151.72. This trade represents a 8.08% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 562,072 shares of company stock valued at $15,858,981 in the last 90 days. 29.95% of the stock is currently owned by corporate insiders.

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.