Diversified Trust Co Trims Holdings in Dropbox, Inc. $DBX

Key Points

• Diversified Trust Co reduced its stake in Dropbox, Inc. by 16.1% during the 2nd quarter, leaving them with 48,507 shares valued at approximately $1.39 million.
• A recent report downgraded Dropbox from a "buy" to a "hold" rating, with analysts also cutting the price target to $27.00 from $29.00.
• Dropbox reported $0.71 earnings per share for the quarter, exceeding expectations, although revenue fell 1.4% year-over-year.

Diversified Trust Co trimmed its holdings in shares of Dropbox, Inc. (NASDAQ:DBX - Free Report) by 16.1% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 48,507 shares of the company's stock after selling 9,332 shares during the period. Diversified Trust Co's holdings in Dropbox were worth $1,387,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in DBX. Two Sigma Advisers LP boosted its stake in Dropbox by 44.7% in the fourth quarter. Two Sigma Advisers LP now owns 131,100 shares of the company's stock worth $3,938,000 after buying an additional 40,500 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in shares of Dropbox by 8.5% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,761,252 shares of the company's stock valued at $52,908,000 after acquiring an additional 137,916 shares in the last quarter. Integrated Advisors Network LLC bought a new position in shares of Dropbox during the fourth quarter valued at $213,000. Kera Capital Partners Inc. bought a new stake in Dropbox in the 1st quarter worth about $258,000. Finally, GAMMA Investing LLC boosted its position in Dropbox by 2,895.9% in the first quarter. GAMMA Investing LLC now owns 192,819 shares of the company's stock worth $5,150,000 after purchasing an additional 186,383 shares during the last quarter. 94.84% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the company. UBS Group downgraded 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 research note on Thursday. Wall Street Zen lowered Dropbox from a "buy" rating to a "hold" rating in a research note on Friday, September 5th. Two analysts have rated the stock with a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat, Dropbox presently has an average rating of "Reduce" and a consensus target price of $29.67.

Dropbox Stock Performance

Shares of NASDAQ DBX traded up $0.30 during midday trading on Monday, reaching $30.91. 2,771,571 shares of the company's stock were exchanged, compared to its average volume of 3,491,269. The stock has a market capitalization of $8.34 billion, a PE ratio of 18.85, a price-to-earnings-growth ratio of 4.05 and a beta of 0.69. Dropbox, Inc. has a 52-week low of $24.42 and a 52-week high of $33.33. The business's fifty day moving average price is $28.54 and its two-hundred day moving average price is $28.07.

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, topping the consensus estimate of $0.63 by $0.08. The business had revenue of $625.70 million during the quarter, compared to the consensus estimate of $618.60 million. Dropbox had a negative return on equity of 61.31% and a net margin of 19.17%.The business'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 earnings per share. Analysts predict that Dropbox, Inc. will post 1.64 earnings per share for the current fiscal year.

Insider Activity

In other news, CEO Andrew Houston sold 45,835 shares of the business's stock in a transaction dated Monday, September 8th. The shares were sold at an average price of $30.04, for a total transaction of $1,376,883.40. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider William T. Yoon sold 11,430 shares of the business's stock in a transaction that occurred on Monday, September 8th. The shares were sold at an average price of $30.16, for a total transaction of $344,728.80. Following the completion of the transaction, the insider owned 223,662 shares of the company's stock, valued at $6,745,645.92. The trade was a 4.86% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 314,333 shares of company stock valued at $8,938,399. Corporate insiders own 28.59% of the company's stock.

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.