AlphaCore Capital LLC Buys New Position in Dropbox, Inc. (NASDAQ:DBX)

Key Points

• AlphaCore Capital LLC has acquired a new stake of 13,574 shares in Dropbox, valued at approximately $363,000.
• Insider trading includes Director Karen Peacock and CEO Andrew Houston selling shares, with a total of 466,125 shares sold by insiders valued at over $13 million in the past three months.
• Despite a recent quarterly earnings report showing earnings per share of $0.71, Dropbox's revenue decreased by 1.4% compared to the same quarter last year.

AlphaCore Capital LLC purchased a new stake in shares of Dropbox, Inc. (NASDAQ:DBX - Free Report) in the first quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 13,574 shares of the company's stock, valued at approximately $363,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. True Wealth Design LLC grew its stake in shares of Dropbox by 191.0% in the 4th quarter. True Wealth Design LLC now owns 1,036 shares of the company's stock worth $31,000 after acquiring an additional 680 shares in the last quarter. SBI Securities Co. Ltd. grew its stake in shares of Dropbox by 33.4% in the 1st quarter. SBI Securities Co. Ltd. now owns 1,794 shares of the company's stock worth $48,000 after acquiring an additional 449 shares in the last quarter. Fifth Third Bancorp grew its stake in shares of Dropbox by 27.3% in the 1st quarter. Fifth Third Bancorp now owns 2,288 shares of the company's stock worth $61,000 after acquiring an additional 490 shares in the last quarter. UMB Bank n.a. grew its position in Dropbox by 115.0% during the first quarter. UMB Bank n.a. now owns 2,501 shares of the company's stock valued at $67,000 after buying an additional 1,338 shares during the period. Finally, Promethos Capital LLC bought a new position in Dropbox during the fourth quarter valued at about $100,000. Institutional investors own 94.84% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the stock. UBS Group reduced their price target 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 target on shares of Dropbox from $30.00 to $32.00 and gave the company a "neutral" rating in a research report on Friday, May 9th.

Dropbox Stock Down 1.2%

DBX traded down $0.35 during trading on Thursday, hitting $27.79. 902,292 shares of the company traded hands, compared to its average volume of 3,765,699. The firm has a market cap of $7.82 billion, a P/E ratio of 16.95, a price-to-earnings-growth ratio of 3.68 and a beta of 0.64. Dropbox, Inc. has a one year low of $22.43 and a one year high of $33.33. The stock's fifty day moving average is $27.77 and its 200 day moving average is $28.19.

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

Insider Activity

In other news, CFO Timothy Regan sold 2,500 shares of the stock in a transaction dated Tuesday, July 29th. The shares were sold at an average price of $27.98, for a total value of $69,950.00. Following the sale, the chief financial officer directly owned 511,094 shares of the company's stock, valued at approximately $14,300,410.12. This represents a 0.49% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Karen Peacock sold 7,000 shares of the stock in a transaction dated Tuesday, May 27th. The stock was sold at an average price of $28.53, for a total transaction of $199,710.00. Following the completion of the sale, the director directly owned 25,295 shares in the company, valued at approximately $721,666.35. The trade was a 21.68% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 463,625 shares of company stock valued at $13,147,530. Corporate insiders own 29.95% of the company's stock.

About Dropbox

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.