AlphaCore Capital LLC Makes New Investment 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 Dropbox, Inc. (NASDAQ:DBX - Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 13,574 shares of the company's stock, valued at approximately $363,000.

Other institutional investors have also recently modified their holdings of the company. Wedge Capital Management L L P NC raised its holdings in shares of Dropbox by 1,640.3% during the 1st quarter. Wedge Capital Management L L P NC now owns 2,141,026 shares of the company's stock worth $57,187,000 after buying an additional 2,017,997 shares in the last quarter. Seizert Capital Partners LLC increased its holdings in Dropbox by 524.8% in the 1st quarter. Seizert Capital Partners LLC now owns 1,879,374 shares of the company's stock worth $50,198,000 after purchasing an additional 1,578,566 shares in the last quarter. Caisse DE Depot ET Placement DU Quebec increased its holdings in Dropbox by 291.2% in the 4th quarter. Caisse DE Depot ET Placement DU Quebec now owns 1,797,823 shares of the company's stock worth $54,007,000 after purchasing an additional 1,338,234 shares in the last quarter. LSV Asset Management increased its holdings in Dropbox by 18.4% in the 1st quarter. LSV Asset Management now owns 7,633,516 shares of the company's stock worth $203,891,000 after purchasing an additional 1,187,395 shares in the last quarter. Finally, Alyeska Investment Group L.P. acquired a new position in Dropbox in the 4th quarter worth about $16,015,000. 94.84% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the company. Citigroup upped their target price on Dropbox from $30.00 to $32.00 and gave the stock a "neutral" rating in a report on Friday, May 9th. UBS Group lowered their target price on Dropbox from $31.00 to $29.00 and set a "neutral" rating for the company in a report on Friday, August 8th.

Dropbox Stock Performance

Shares of DBX stock traded up $0.80 on Wednesday, hitting $28.13. The company had a trading volume of 3,789,631 shares, compared to its average volume of 3,775,506. The firm has a market cap of $7.92 billion, a P/E ratio of 17.15, a P/E/G ratio of 3.61 and a beta of 0.64. The stock's 50-day moving average is $27.79 and its two-hundred day moving average is $28.19. Dropbox, Inc. has a twelve month low of $22.32 and a twelve month high of $33.33.

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

Insiders Place Their Bets

In related news, Director Karen Peacock sold 7,000 shares of the company's 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 sale, the director owned 25,295 shares in the company, valued at $721,666.35. This represents a 21.68% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Timothy Regan sold 2,500 shares of the company's 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 owned 511,094 shares in the company, valued at approximately $14,300,410.12. The trade was a 0.49% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 466,125 shares of company stock worth $13,221,355 in the last quarter. 28.59% of the stock is currently owned by company insiders.

Dropbox 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.