Callan Family Office LLC Makes New Investment in Dropbox, Inc. $DBX

Key Points

• Callan Family Office LLC has purchased 19,297 shares of Dropbox, Inc. valued at approximately $552,000, according to their recent filing with the SEC.
• Insider transactions include significant sales by CEO Andrew Houston and others, with insiders selling a total of 316,066 shares worth nearly $9.2 million over the past three months.
• Analysts have recently downgraded Dropbox's stock rating, with UBS reducing it from "neutral" to "sell," reflecting caution among market experts.

Callan Family Office LLC bought a new position in Dropbox, Inc. (NASDAQ:DBX - Free Report) during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 19,297 shares of the company's stock, valued at approximately $552,000.

Several other hedge funds have also added to or reduced their stakes in the stock. Elequin Capital LP lifted its holdings 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 acquiring an additional 469 shares during the period. Brooklyn Investment Group lifted its holdings 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 acquiring an additional 991 shares during the period. SBI Securities Co. Ltd. lifted its holdings 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 acquiring an additional 449 shares during the period. Fifth Third Bancorp lifted its holdings 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 acquiring an additional 490 shares during the period. Finally, UMB Bank n.a. lifted its holdings 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 acquiring an additional 742 shares during the period. 94.84% of the stock is owned by institutional investors.

Insider Transactions at Dropbox

In other Dropbox news, insider Ashraf Alkarmi sold 10,098 shares of the business's stock in a transaction that occurred on Monday, August 18th. The stock was sold at an average price of $27.30, for a total transaction of $275,675.40. Following the transaction, the insider owned 469,333 shares in the company, valued at approximately $12,812,790.90. The trade was a 2.11% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Andrew Houston sold 101,167 shares of the business's stock in a transaction that occurred on Wednesday, October 1st. The stock was sold at an average price of $29.64, for a total value of $2,998,589.88. The disclosure for this sale can be found here. Insiders have sold a total of 316,066 shares of company stock worth $9,174,796 over the last three months. 28.59% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of brokerages have commented on DBX. UBS Group cut Dropbox from a "neutral" rating to a "sell" rating and reduced their price target for the stock from $29.00 to $27.00 in a research report on Thursday, September 18th. Weiss Ratings restated a "hold (c+)" rating on shares of Dropbox in a research report on Wednesday, October 8th. Finally, Wall Street Zen cut Dropbox from a "buy" rating to a "hold" rating in a research report on Friday, September 5th. Three analysts have rated the stock with a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Reduce" and an average target price of $29.67.

Dropbox Stock Down 0.9%

DBX stock opened at $28.40 on Wednesday. The business has a fifty day moving average of $29.35 and a two-hundred day moving average of $28.45. The stock has a market cap of $7.66 billion, a price-to-earnings ratio of 17.32, a price-to-earnings-growth ratio of 3.78 and a beta of 0.67. Dropbox, Inc. has a 52-week low of $24.42 and a 52-week 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 EPS 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 analyst estimates of $618.60 million. Dropbox had a negative return on equity of 61.31% and a net margin of 19.17%.The company's quarterly revenue was down 1.4% on a year-over-year basis. During the same period last year, the business posted $0.60 earnings per share. As a group, sell-side analysts anticipate that Dropbox, Inc. will post 1.64 EPS for the current year.

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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