Aristeia Capital L.L.C. Decreases Holdings in Dropbox, Inc. $DBX

Key Points

• Aristeia Capital L.L.C. reduced its holdings in Dropbox, Inc. by 11.5%, selling 10,156 shares and retaining a total of 78,344 shares valued at approximately $2.09 million.
• In contrast, other hedge funds have increased their stakes in Dropbox, with Elequin Capital LP growing its position by 71% and Brooklyn Investment Group by 250.3% during the same quarter.
• Dropbox's recent earnings report showed EPS of $0.71, exceeding expectations, but the company's revenue declined by 1.4% year-over-year to $625.70 million.

Aristeia Capital L.L.C. decreased its position in Dropbox, Inc. (NASDAQ:DBX - Free Report) by 11.5% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 78,344 shares of the company's stock after selling 10,156 shares during the quarter. Aristeia Capital L.L.C.'s holdings in Dropbox were worth $2,093,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in DBX. Captrust Financial Advisors grew its holdings in shares of Dropbox by 7.1% in the 4th quarter. Captrust Financial Advisors now owns 80,124 shares of the company's stock worth $2,407,000 after purchasing an additional 5,300 shares during the last quarter. D. E. Shaw & Co. Inc. acquired a new stake in shares of Dropbox in the 4th quarter valued at approximately $9,189,000. Focus Partners Wealth acquired a new stake in shares of Dropbox in the 4th quarter valued at approximately $219,000. Gotham Asset Management LLC raised its position in shares of Dropbox by 5.1% in the 4th quarter. Gotham Asset Management LLC now owns 265,927 shares of the company's stock valued at $7,988,000 after acquiring an additional 12,814 shares during the period. Finally, Janus Henderson Group PLC raised its position in shares of Dropbox by 3.0% in the 4th quarter. Janus Henderson Group PLC now owns 267,014 shares of the company's stock valued at $8,022,000 after acquiring an additional 7,662 shares during the period. Institutional investors own 94.84% of the company's stock.

Insider Activity at Dropbox

In other Dropbox news, insider Ashraf Alkarmi sold 10,000 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 value of $300,000.00. Following the transaction, the insider directly owned 459,333 shares of the company's stock, valued at approximately $13,779,990. The trade was a 2.13% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Andrew Houston sold 45,835 shares of the business's stock in a transaction that occurred on Monday, September 8th. The shares were sold at an average price of $30.04, for a total value of $1,376,883.40. The disclosure for this sale can be found here. In the last 90 days, insiders sold 314,333 shares of company stock valued at $8,938,399. Corporate insiders own 29.95% of the company's stock.

Dropbox Stock Performance

Dropbox stock remained flat at $30.91 during mid-day trading on Friday. The company's stock had a trading volume of 2,280,425 shares, compared to its average volume of 3,058,630. The company has a fifty day moving average of $28.05 and a 200 day moving average of $27.83. Dropbox, Inc. has a fifty-two week low of $24.25 and a fifty-two week high of $33.33. The stock has a market capitalization of $8.34 billion, a PE ratio of 18.85, a price-to-earnings-growth ratio of 4.09 and a beta of 0.70.

Dropbox (NASDAQ:DBX - Get Free Report) last posted its 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. Dropbox had a negative return on equity of 61.31% and a net margin of 19.17%.The company had revenue of $625.70 million during the quarter, compared to the consensus estimate of $618.60 million. During the same quarter last year, the firm earned $0.60 earnings per share. The company's revenue was down 1.4% on a year-over-year basis. Equities research analysts forecast that Dropbox, Inc. will post 1.64 EPS for the current year.

Analysts Set New Price Targets

A number of research firms recently issued reports on DBX. UBS Group lowered their target price on Dropbox from $31.00 to $29.00 and set a "neutral" rating for the company in a research note on Friday, August 8th. Wall Street Zen cut Dropbox from a "buy" rating to a "hold" rating in a research note on Friday, September 5th. Three equities research analysts have rated the stock with a Hold rating, According to MarketBeat.com, Dropbox has a consensus rating of "Hold" and an average price target of $30.33.

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.