Dropbox, Inc. $DBX Shares Sold by WINTON GROUP Ltd

Key Points

• WINTON GROUP Ltd cut its Dropbox stake by 41.1% in the fourth quarter, selling 61,132 shares and leaving it with 87,738 shares worth about $2.44 million.
• Analysts remain cautious on DBX: UBS and JPMorgan lowered price targets, and the stock’s overall consensus rating is currently "Reduce" with a $27 target price.
• Dropbox beat its latest quarterly earnings estimates, reporting $0.76 EPS on revenue of $629.5 million, while CEO Ashraf Alkarmi and CAO Sarah Elizabeth Schubach also sold shares in recent insider transactions.

WINTON GROUP Ltd lowered its position in shares of Dropbox, Inc. (NASDAQ:DBX - Free Report) by 41.1% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 87,738 shares of the company's stock after selling 61,132 shares during the quarter. WINTON GROUP Ltd's holdings in Dropbox were worth $2,439,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. Rossby Financial LCC grew its holdings in shares of Dropbox by 128.5% during the 3rd quarter. Rossby Financial LCC now owns 937 shares of the company's stock worth $28,000 after purchasing an additional 527 shares during the period. Palisade Asset Management LLC purchased a new stake in shares of Dropbox during the 3rd quarter worth about $30,000. Larson Financial Group LLC grew its holdings in shares of Dropbox by 228.0% during the 4th quarter. Larson Financial Group LLC now owns 1,138 shares of the company's stock worth $32,000 after purchasing an additional 791 shares during the period. Geneos Wealth Management Inc. grew its holdings in shares of Dropbox by 78.0% during the 2nd quarter. Geneos Wealth Management Inc. now owns 1,273 shares of the company's stock worth $36,000 after purchasing an additional 558 shares during the period. Finally, Hantz Financial Services Inc. grew its holdings in shares of Dropbox by 342.8% during the 3rd quarter. Hantz Financial Services Inc. now owns 1,448 shares of the company's stock worth $44,000 after purchasing an additional 1,121 shares during the period. Hedge funds and other institutional investors own 94.84% of the company's stock.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on DBX. UBS Group decreased their target price on Dropbox from $27.00 to $23.00 and set a "sell" rating for the company in a report on Friday, February 20th. William Blair reiterated an "underperform" rating on shares of Dropbox in a report on Monday, March 23rd. Royal Bank Of Canada reiterated an "outperform" rating on shares of Dropbox in a report on Monday, June 1st. Weiss Ratings reiterated a "hold (c)" rating on shares of Dropbox in a report on Monday, May 4th. Finally, JPMorgan Chase & Co. decreased their target price on Dropbox from $29.00 to $25.00 and set a "neutral" rating for the company in a report on Friday, February 20th. One research analyst has rated the stock with a Buy rating, three have assigned a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, Dropbox presently has an average rating of "Reduce" and a consensus target price of $27.00.

Dropbox Price Performance

Shares of NASDAQ:DBX opened at $27.52 on Monday. Dropbox, Inc. has a 52-week low of $21.69 and a 52-week high of $32.40. The company has a 50 day moving average of $25.11 and a two-hundred day moving average of $26.17. The company has a market capitalization of $6.42 billion, a price-to-earnings ratio of 15.04, a price-to-earnings-growth ratio of 3.01 and a beta of 0.67.

Dropbox (NASDAQ:DBX - Get Free Report) last issued its quarterly earnings data on Thursday, May 7th. The company reported $0.76 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.71 by $0.05. Dropbox had a net margin of 18.71% and a negative return on equity of 30.01%. The company had revenue of $629.50 million during the quarter, compared to the consensus estimate of $620.56 million. During the same quarter last year, the company earned $0.70 earnings per share. Dropbox's revenue for the quarter was up .8% on a year-over-year basis. On average, equities analysts anticipate that Dropbox, Inc. will post 2.09 earnings per share for the current year.

Insider Buying and Selling

In other Dropbox news, CEO Ashraf Alkarmi sold 22,700 shares of the stock in a transaction that occurred on Tuesday, June 2nd. The shares were sold at an average price of $27.86, for a total value of $632,422.00. Following the completion of the sale, the chief executive officer owned 1,080,746 shares of the company's stock, valued at $30,109,583.56. This trade represents a 2.06% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Sarah Elizabeth Schubach sold 1,305 shares of the stock in a transaction that occurred on Monday, June 1st. The shares were sold at an average price of $27.66, for a total transaction of $36,096.30. Following the completion of the sale, the chief accounting officer directly owned 129,815 shares of the company's stock, valued at $3,590,682.90. This trade represents a 1.00% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 239,883 shares of company stock valued at $6,006,972 over the last three months. Company insiders own 35.48% of the company's stock.

About Dropbox

Dropbox, Inc NASDAQ: DBX is a leading provider of cloud-based file storage, collaboration, and productivity tools. Founded in 2007 and headquartered in San Francisco, California, the company offers a suite of services designed to help individuals and organizations securely store, share, and manage digital content. Dropbox has grown from a simple file-syncing application into an integrated collaboration platform used by millions of customers around the globe.

At its core, Dropbox provides cloud storage plans tailored for consumers and businesses.

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