Dropbox, Inc. $DBX Shares Bought by AlphaQuest LLC

Key Points

• AlphaQuest LLC increased its stake in Dropbox, Inc. by 61.4%, now owning 35,601 shares valued at approximately $1,018,000.
• Dropbox reported a quarterly earnings per share of $0.71, surpassing analysts' expectations of $0.63, but saw a 1.4% decrease in revenue from the previous year.
• Insiders have sold a total of 318,632 shares of Dropbox stock in the last three months, reflecting a significant decrease in their ownership positions.

AlphaQuest LLC lifted its stake in shares of Dropbox, Inc. (NASDAQ:DBX - Free Report) by 61.4% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 35,601 shares of the company's stock after acquiring an additional 13,550 shares during the period. AlphaQuest LLC's holdings in Dropbox were worth $1,018,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Elequin Capital LP lifted its holdings in shares of Dropbox by 71.0% during the 1st quarter. Elequin Capital LP now owns 1,130 shares of the company's stock worth $30,000 after acquiring an additional 469 shares during the period. Brooklyn Investment Group lifted its holdings in shares of Dropbox by 250.3% during the 1st quarter. Brooklyn Investment Group now owns 1,387 shares of the company's stock worth $37,000 after acquiring an additional 991 shares during the period. Cullen Frost Bankers Inc. purchased a new position in shares of Dropbox during the 2nd quarter worth about $41,000. SBI Securities Co. Ltd. lifted its holdings in shares of Dropbox by 33.4% during the 1st quarter. SBI Securities Co. Ltd. now owns 1,794 shares of the company's stock worth $48,000 after acquiring an additional 449 shares during the period. Finally, UMB Bank n.a. lifted its holdings in shares of Dropbox by 29.7% during the 2nd quarter. UMB Bank n.a. now owns 3,243 shares of the company's stock worth $93,000 after acquiring an additional 742 shares during the period. 94.84% of the stock is currently owned by hedge funds and other institutional investors.

Dropbox Trading Up 0.0%

DBX stock opened at $29.36 on Friday. Dropbox, Inc. has a twelve month low of $24.42 and a twelve month high of $33.33. The company has a market capitalization of $7.92 billion, a P/E ratio of 17.90, a PEG ratio of 3.87 and a beta of 0.67. The firm has a 50 day simple moving average of $29.67 and a 200-day simple moving average of $28.62.

Dropbox (NASDAQ:DBX - Get Free Report) last released its quarterly earnings results on Thursday, August 7th. The company reported $0.71 earnings per share for the quarter, topping analysts' consensus estimates 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 net margin of 19.17% and a negative return on equity of 61.31%. The business's quarterly revenue was down 1.4% compared to the same quarter last year. During the same quarter last year, the company earned $0.60 earnings per share. On average, research analysts predict that Dropbox, Inc. will post 1.64 EPS for the current year.

Insider Buying and Selling

In other Dropbox news, CAO Sarah Elizabeth Schubach sold 1,066 shares of the firm's stock in a transaction on Wednesday, October 15th. The stock was sold at an average price of $28.62, for a total value of $30,508.92. Following the sale, the chief accounting officer directly owned 104,657 shares in the company, valued at approximately $2,995,283.34. This trade represents a 1.01% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider William T. Yoon sold 11,430 shares of the firm's stock in a transaction on Monday, September 8th. The shares were sold at an average price of $30.16, for a total value of $344,728.80. Following the completion of the sale, the insider owned 223,662 shares in the company, 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. Insiders sold a total of 318,632 shares of company stock valued at $9,248,234 in the last three months. 29.95% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several research analysts recently commented on DBX shares. Weiss Ratings restated a "hold (c+)" rating on shares of Dropbox in a report on Friday. Wall Street Zen lowered shares of Dropbox from a "buy" rating to a "hold" rating in a report on Sunday. Finally, UBS Group lowered shares of Dropbox from a "neutral" rating to a "sell" rating and cut their price target for the company from $29.00 to $27.00 in a report on Thursday, September 18th. Three equities research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Reduce" and a consensus target price of $29.67.

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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