Allianz Asset Management GmbH Has $41.11 Million Stock Holdings in Dropbox, Inc. $DBX

Key Points

• Allianz Asset Management GmbH increased its stake in Dropbox, Inc. by 46.4% during the second quarter, holding approximately 1.44 million shares valued at about $41.11 million.
• Several institutional investors have also raised their stakes in Dropbox recently, with 94.84% of the stock now owned by such entities.
• Insiders have recently sold a total of 318,632 shares of Dropbox stock, with key transactions including a sale by CTO Ali Dasdan totaling approximately $384,360.

Allianz Asset Management GmbH boosted its stake in shares of Dropbox, Inc. (NASDAQ:DBX - Free Report) by 46.4% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 1,437,355 shares of the company's stock after purchasing an additional 455,876 shares during the period. Allianz Asset Management GmbH owned 0.51% of Dropbox worth $41,108,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of the stock. Elequin Capital LP raised its stake in Dropbox by 71.0% in the first quarter. Elequin Capital LP now owns 1,130 shares of the company's stock valued at $30,000 after buying an additional 469 shares during the period. Brooklyn Investment Group raised its stake in Dropbox by 250.3% in the first quarter. Brooklyn Investment Group now owns 1,387 shares of the company's stock valued at $37,000 after buying an additional 991 shares during the period. SBI Securities Co. Ltd. raised its stake in Dropbox by 33.4% in the first quarter. SBI Securities Co. Ltd. now owns 1,794 shares of the company's stock valued at $48,000 after buying an additional 449 shares during the period. Fifth Third Bancorp raised its stake in Dropbox by 27.3% in the first quarter. Fifth Third Bancorp now owns 2,288 shares of the company's stock valued at $61,000 after buying an additional 490 shares during the period. Finally, UMB Bank n.a. raised its stake in Dropbox by 29.7% in the second quarter. UMB Bank n.a. now owns 3,243 shares of the company's stock valued at $93,000 after buying an additional 742 shares during the period. 94.84% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Dropbox

In other Dropbox news, insider William T. Yoon sold 11,430 shares of the firm's stock in a transaction on Monday, September 8th. The stock was sold at an average price of $30.16, for a total transaction of $344,728.80. Following the transaction, the insider owned 223,662 shares in the company, valued at $6,745,645.92. This trade represents a 4.86% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CTO Ali Dasdan sold 12,812 shares of the firm's stock in a transaction on Monday, September 8th. The stock was sold at an average price of $30.00, for a total value of $384,360.00. Following the transaction, the chief technology officer owned 551,060 shares in the company, valued at approximately $16,531,800. This trade represents a 2.27% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 318,632 shares of company stock worth $9,248,234 in the last 90 days. Company insiders own 29.95% of the company's stock.

Dropbox Trading Up 2.5%

NASDAQ:DBX opened at $29.10 on Friday. The stock has a market cap of $7.85 billion, a P/E ratio of 17.74, a PEG ratio of 3.74 and a beta of 0.67. The stock has a 50 day simple moving average of $29.49 and a 200 day simple moving average of $28.48. Dropbox, Inc. has a 1-year low of $24.42 and a 1-year high of $33.33.

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

Wall Street Analyst Weigh In

DBX has been the topic of several research analyst reports. Weiss Ratings restated a "hold (c+)" rating on shares of Dropbox in a research note on Wednesday, October 8th. UBS Group lowered Dropbox from a "neutral" rating to a "sell" rating and dropped their price objective for the company from $29.00 to $27.00 in a research note on Thursday, September 18th. Finally, Wall Street Zen upgraded Dropbox from a "hold" rating to a "buy" rating in a research note on Saturday. Three equities research analysts have rated the stock with a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, Dropbox has a consensus rating of "Reduce" and a consensus price target of $29.67.

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.

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