Cwm LLC Has $5.32 Million Stake in Dropbox, Inc. $DBX

Key Points

• Cwm LLC increased its stake in Dropbox, Inc. by 131.2% during the second quarter, owning 185,914 shares valued at approximately $5.32 million.
• Numerous institutional investors, including Vanguard and IFP Advisors, also raised their stakes in Dropbox, which is predominantly owned by 94.84% institutional investors.
• CEO Andrew Houston and CTO Ali Dasdan sold significant shares of Dropbox stock, indicating insider activity amidst a fluctuation in share prices, which recently opened at $28.95.

Cwm LLC boosted its holdings in Dropbox, Inc. (NASDAQ:DBX - Free Report) by 131.2% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 185,914 shares of the company's stock after purchasing an additional 105,511 shares during the quarter. Cwm LLC owned 0.07% of Dropbox worth $5,317,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of the business. Vanguard Personalized Indexing Management LLC raised its stake in Dropbox by 4.8% in the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 43,813 shares of the company's stock worth $1,253,000 after purchasing an additional 2,025 shares in the last quarter. 3Chopt Investment Partners LLC raised its stake in Dropbox by 2.9% in the 2nd quarter. 3Chopt Investment Partners LLC now owns 131,075 shares of the company's stock worth $3,749,000 after purchasing an additional 3,710 shares in the last quarter. IFP Advisors Inc raised its stake in Dropbox by 92.5% in the 2nd quarter. IFP Advisors Inc now owns 8,330 shares of the company's stock worth $245,000 after purchasing an additional 4,002 shares in the last quarter. Callan Family Office LLC acquired a new stake in Dropbox in the 2nd quarter worth about $552,000. Finally, Optas LLC increased its holdings in Dropbox by 117.0% in the 2nd quarter. Optas LLC now owns 19,516 shares of the company's stock valued at $558,000 after buying an additional 10,521 shares during the period. Institutional investors and hedge funds own 94.84% of the company's stock.

Insider Activity at Dropbox

In other Dropbox news, CEO Andrew Houston sold 101,167 shares of the business's stock in a transaction that occurred on Wednesday, October 1st. The shares were sold at an average price of $29.64, for a total transaction of $2,998,589.88. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CTO Ali Dasdan sold 12,812 shares of the business's stock in a transaction that occurred on Monday, September 8th. The stock was sold at an average price of $30.00, for a total transaction of $384,360.00. Following the sale, the chief technology officer directly owned 551,060 shares in the company, valued at $16,531,800. The trade was a 2.27% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 316,066 shares of company stock worth $9,174,796 in the last ninety days. Insiders own 29.95% of the company's stock.

Dropbox Trading Up 1.9%

Shares of Dropbox stock opened at $28.95 on Thursday. The firm has a market capitalization of $7.81 billion, a PE ratio of 17.65, a price-to-earnings-growth ratio of 3.74 and a beta of 0.67. The firm's 50 day moving average is $29.40 and its 200 day moving average is $28.46. 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 announced its quarterly earnings results 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. The company had revenue of $625.70 million for the quarter, compared to analyst estimates of $618.60 million. Dropbox had a net margin of 19.17% and a negative return on equity of 61.31%. The firm's revenue was down 1.4% on a year-over-year basis. During the same period in the previous year, the firm posted $0.60 EPS. As a group, research analysts anticipate that Dropbox, Inc. will post 1.64 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on DBX shares. Wall Street Zen lowered shares of Dropbox from a "buy" rating to a "hold" rating in a report on Friday, September 5th. Weiss Ratings reissued a "hold (c+)" rating on shares of Dropbox in a report on Wednesday, October 8th. Finally, UBS Group lowered shares of Dropbox from a "neutral" rating to a "sell" rating and decreased their target price for the company from $29.00 to $27.00 in a report on Thursday, September 18th. Three investment analysts have rated the stock with a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Reduce" and a consensus target price of $29.67.

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.

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