Donald L. Hagan LLC Acquires 25,583 Shares of Dropbox, Inc. $DBX

Key Points

• Donald L. Hagan LLC increased its holdings in Dropbox, Inc. by 180.8% during the 2nd quarter, acquiring an additional 25,583 shares for a total of 39,729 shares valued at $1,136,000.
• Analysts have downgraded Dropbox's stock ratings, with UBS lowering it from "neutral" to "sell" and reducing the price target from $29.00 to $27.00.
• Dropbox's CEO, Andrew Houston, sold 92,000 shares for approximately $2.56 million, representing a 1.10% decrease in his ownership of the stock.

Donald L. Hagan LLC raised its position in shares of Dropbox, Inc. (NASDAQ:DBX - Free Report) by 180.8% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 39,729 shares of the company's stock after buying an additional 25,583 shares during the quarter. Donald L. Hagan LLC's holdings in Dropbox were worth $1,136,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Elequin Capital LP lifted its position in shares of Dropbox by 71.0% during the first quarter. Elequin Capital LP now owns 1,130 shares of the company's stock valued at $30,000 after buying an additional 469 shares during the last quarter. Brooklyn Investment Group lifted its position in shares of Dropbox by 250.3% during the first quarter. Brooklyn Investment Group now owns 1,387 shares of the company's stock valued at $37,000 after buying an additional 991 shares during the last quarter. SBI Securities Co. Ltd. lifted its position in shares of Dropbox by 33.4% during the first quarter. SBI Securities Co. Ltd. now owns 1,794 shares of the company's stock valued at $48,000 after buying an additional 449 shares during the last quarter. Fifth Third Bancorp lifted its position in shares of Dropbox by 27.3% during the first quarter. Fifth Third Bancorp now owns 2,288 shares of the company's stock valued at $61,000 after buying an additional 490 shares during the last quarter. Finally, UMB Bank n.a. lifted its position in shares of Dropbox by 115.0% during the first quarter. UMB Bank n.a. now owns 2,501 shares of the company's stock valued at $67,000 after buying an additional 1,338 shares during the last quarter. 94.84% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms have commented on DBX. UBS Group lowered shares of Dropbox from a "neutral" rating to a "sell" rating and decreased their price target for the company from $29.00 to $27.00 in a research report on Thursday, September 18th. Wall Street Zen lowered shares of Dropbox from a "buy" rating to a "hold" rating in a research report on Friday, September 5th. Two investment analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, Dropbox currently has a consensus rating of "Reduce" and a consensus price target of $29.67.

Insider Activity at Dropbox

In other Dropbox news, CEO Andrew Houston sold 92,000 shares of the firm's stock in a transaction that occurred on Thursday, August 14th. The shares were sold at an average price of $27.83, for a total transaction of $2,560,360.00. Following the completion of the transaction, the chief executive officer directly owned 8,266,666 shares of the company's stock, valued at approximately $230,061,314.78. This trade represents a 1.10% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CTO Ali Dasdan sold 12,812 shares of the firm'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 transaction, the chief technology officer directly owned 551,060 shares of the company's stock, valued at $16,531,800. This represents a 2.27% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 209,833 shares of company stock worth $6,015,679 in the last ninety days. 28.59% of the stock is owned by company insiders.

Dropbox Stock Down 1.4%

Shares of Dropbox stock opened at $30.21 on Wednesday. The firm has a market capitalization of $8.15 billion, a P/E ratio of 18.42, a PEG ratio of 4.05 and a beta of 0.69. The company has a 50 day moving average price of $29.00 and a 200 day moving average price of $28.29. 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 posted its quarterly earnings results on Thursday, August 7th. The company reported $0.71 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.63 by $0.08. Dropbox had a net margin of 19.17% and a negative return on equity of 61.31%. The company had revenue of $625.70 million during the quarter, compared to analyst estimates of $618.60 million. During the same period last year, the firm posted $0.60 EPS. Dropbox's revenue for the quarter was down 1.4% compared to the same quarter last year. As a group, research analysts anticipate that Dropbox, Inc. will post 1.64 earnings per share for the current fiscal year.

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.

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