Dropbox, Inc. $DBX Stock Position Lowered by Robeco Institutional Asset Management B.V.

Key Points

• Robeco Institutional Asset Management B.V. reduced its stake in Dropbox, Inc. by 6.8%, selling 145,774 shares, while other institutional investors increased their holdings significantly during the same period.
• Dropbox reported $0.71 earnings per share for the last quarter, surpassing expectations, but its revenue fell 1.4% compared to the previous year.
• Equity research analysts have lowered their ratings on Dropbox, with UBS Group cutting it from "neutral" to "sell" and setting a new target price of $27.00.

Robeco Institutional Asset Management B.V. lessened its position in Dropbox, Inc. (NASDAQ:DBX - Free Report) by 6.8% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 2,003,058 shares of the company's stock after selling 145,774 shares during the period. Robeco Institutional Asset Management B.V. owned approximately 0.71% of Dropbox worth $57,287,000 at the end of the most recent reporting period.

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

Dropbox Trading Up 1.1%

Shares of DBX stock opened at $29.85 on Friday. Dropbox, Inc. has a 1-year low of $24.42 and a 1-year high of $33.33. The company has a market capitalization of $8.06 billion, a price-to-earnings ratio of 18.20, a P/E/G ratio of 3.90 and a beta of 0.67. The stock's fifty day simple moving average is $29.07 and its 200-day simple moving average is $28.32.

Dropbox (NASDAQ:DBX - Get Free Report) last issued its quarterly earnings results on Thursday, August 7th. The company reported $0.71 earnings per share for the quarter, beating 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 business had revenue of $625.70 million for the quarter, compared to the consensus estimate of $618.60 million. During the same quarter in the previous year, the company posted $0.60 earnings per share. Dropbox's revenue for the quarter was down 1.4% compared to the same quarter last year. On average, sell-side analysts predict that Dropbox, Inc. will post 1.64 EPS for the current year.

Insider Buying and Selling at Dropbox

In other news, CEO Andrew Houston sold 92,000 shares of Dropbox stock in a transaction on Thursday, August 14th. The stock was sold at an average price of $27.83, for a total transaction of $2,560,360.00. Following the transaction, the chief executive officer owned 8,266,666 shares in the company, valued at approximately $230,061,314.78. The trade was a 1.10% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CTO Ali Dasdan sold 12,812 shares of Dropbox stock in a transaction on Monday, September 8th. The shares were sold at an average price of $30.00, for a total value of $384,360.00. Following the transaction, the chief technology officer owned 551,060 shares in the company, valued at $16,531,800. This represents a 2.27% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 217,399 shares of company stock valued at $6,243,281 in the last ninety days. Company insiders own 29.95% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the company. UBS Group lowered Dropbox from a "neutral" rating to a "sell" rating and cut their target price for the stock from $29.00 to $27.00 in a research report on Thursday, September 18th. Wall Street Zen lowered Dropbox from a "buy" rating to a "hold" rating in a research report 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. According to MarketBeat.com, the company presently has an average rating of "Reduce" and an average target price of $29.67.

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.

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