42,192 Shares in Dropbox, Inc. $DBX Acquired by Clark Capital Management Group Inc.

Key Points

• Clark Capital Management Group Inc. has acquired 42,192 shares of Dropbox, Inc., valued at approximately $1,127,000, as reported in their latest SEC filing.
• Insider trading activity shows that CTO Ali Dasdan and CEO Andrew Houston sold significant amounts of Dropbox shares, decreasing their holdings by 1.20% and 3.72% respectively.
• Dropbox's latest earnings report revealed earnings per share of $0.71, surpassing analyst expectations, although revenue declined by 1.4% year-over-year.

Clark Capital Management Group Inc. acquired a new stake in Dropbox, Inc. (NASDAQ:DBX - Free Report) during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 42,192 shares of the company's stock, valued at approximately $1,127,000.

Other institutional investors have also recently bought and sold shares of the company. Stifel Financial Corp acquired a new position in shares of Dropbox in the 4th quarter valued at $935,000. Schonfeld Strategic Advisors LLC increased its holdings in Dropbox by 2.0% in the fourth quarter. Schonfeld Strategic Advisors LLC now owns 26,700 shares of the company's stock valued at $802,000 after purchasing an additional 513 shares during the last quarter. Captrust Financial Advisors lifted its stake in Dropbox by 7.1% in the fourth quarter. Captrust Financial Advisors now owns 80,124 shares of the company's stock valued at $2,407,000 after buying an additional 5,300 shares during the period. BOKF NA acquired a new position in Dropbox in the fourth quarter valued at about $550,000. Finally, D. E. Shaw & Co. Inc. bought a new position in Dropbox during the fourth quarter worth about $9,189,000. Institutional investors and hedge funds own 94.84% of the company's stock.

Dropbox Trading Up 0.7%

Shares of NASDAQ DBX traded up $0.20 during mid-day trading on Thursday, reaching $30.91. 2,447,793 shares of the company's stock were exchanged, compared to its average volume of 3,067,855. Dropbox, Inc. has a twelve month low of $24.08 and a twelve month high of $33.33. The firm has a market capitalization of $8.34 billion, a price-to-earnings ratio of 18.85, a PEG ratio of 4.06 and a beta of 0.70. The business has a fifty day simple moving average of $27.99 and a 200 day simple moving average of $27.80.

Dropbox (NASDAQ:DBX - Get Free Report) last issued its quarterly earnings data on Thursday, August 7th. The company reported $0.71 earnings per share (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 business had revenue of $625.70 million during the quarter, compared to analyst estimates of $618.60 million. During the same period in the previous year, the firm earned $0.60 EPS. Dropbox's quarterly revenue was down 1.4% compared to the same quarter last year. Equities research analysts predict that Dropbox, Inc. will post 1.64 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of analysts have recently commented on the company. Wall Street Zen cut Dropbox from a "buy" rating to a "hold" rating in a research note on Friday, September 5th. UBS Group decreased their price objective on shares of Dropbox from $31.00 to $29.00 and set a "neutral" rating for the company in a report on Friday, August 8th. Three research analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $30.33.

Insider Buying and Selling

In other news, insider William T. Yoon sold 11,430 shares of the firm's stock in a transaction dated Monday, September 8th. The stock was sold at an average price of $30.16, for a total value of $344,728.80. Following the completion of 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Ashraf Alkarmi sold 10,000 shares of Dropbox stock in a transaction dated Monday, September 8th. The shares were sold at an average price of $30.00, for a total value of $300,000.00. Following the completion of the sale, the insider directly owned 459,333 shares in the company, valued at approximately $13,779,990. This represents a 2.13% decrease in their position. The disclosure for this sale can be found here. Insiders sold 326,931 shares of company stock valued at $9,292,403 over the last ninety days. 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.