Seizert Capital Partners LLC Raises Holdings in Dropbox, Inc. (NASDAQ:DBX)

Key Points

• Seizert Capital Partners LLC increased its stake in Dropbox by 524.8% in the first quarter, owning approximately 1.88 million shares, which represent 2.3% of their portfolio.
• Despite a recent easing in stock price, Dropbox reported an adjusted EPS of $0.70 for the latest quarter, exceeding estimates, though its revenue saw a 1.0% decline year-over-year.
• Brokerages have adjusted their price targets for Dropbox, with UBS raising its target to $31.00 and Citigroup to $32.00, maintaining a "buy" and "neutral" rating, respectively.

Seizert Capital Partners LLC raised its position in shares of Dropbox, Inc. (NASDAQ:DBX - Free Report) by 524.8% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 1,879,374 shares of the company's stock after purchasing an additional 1,578,566 shares during the quarter. Dropbox accounts for approximately 2.3% of Seizert Capital Partners LLC's holdings, making the stock its 13th biggest position. Seizert Capital Partners LLC owned about 0.62% of Dropbox worth $50,198,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in DBX. Bayforest Capital Ltd lifted its position in shares of Dropbox by 106.3% during the 1st quarter. Bayforest Capital Ltd now owns 10,437 shares of the company's stock valued at $279,000 after buying an additional 5,377 shares in the last quarter. Vestcor Inc raised its holdings in shares of Dropbox by 81.2% during the 1st quarter. Vestcor Inc now owns 207,912 shares of the company's stock worth $5,553,000 after acquiring an additional 93,162 shares in the last quarter. Banque Cantonale Vaudoise purchased a new stake in shares of Dropbox during the 1st quarter worth approximately $259,000. Federated Hermes Inc. raised its holdings in shares of Dropbox by 18.2% during the 1st quarter. Federated Hermes Inc. now owns 25,572 shares of the company's stock worth $683,000 after acquiring an additional 3,929 shares in the last quarter. Finally, Integrated Investment Consultants LLC purchased a new stake in shares of Dropbox during the 1st quarter worth approximately $339,000. 94.84% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several analysts have recently issued reports on DBX shares. UBS Group upped their price objective on Dropbox from $30.00 to $31.00 and gave the stock a "buy" rating in a report on Friday, May 9th. Citigroup upped their price objective on Dropbox from $30.00 to $32.00 and gave the stock a "neutral" rating in a report on Friday, May 9th.

Dropbox Trading Down 2.6%

Shares of NASDAQ DBX traded down $0.71 during trading hours on Friday, hitting $26.46. 4,328,635 shares of the company traded hands, compared to its average volume of 2,964,519. The stock has a market capitalization of $7.45 billion, a price-to-earnings ratio of 17.29, a price-to-earnings-growth ratio of 10.69 and a beta of 0.64. The company's 50 day moving average price is $28.14 and its 200 day moving average price is $28.44. Dropbox, Inc. has a 12 month low of $21.32 and a 12 month high of $33.33.

Dropbox (NASDAQ:DBX - Get Free Report) last released its earnings results on Thursday, May 8th. The company reported $0.70 earnings per share for the quarter, beating the consensus estimate of $0.62 by $0.08. The firm had revenue of $624.70 million for the quarter, compared to the consensus estimate of $619.56 million. Dropbox had a negative return on equity of 79.66% and a net margin of 18.50%. The company's revenue for the quarter was down 1.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.58 EPS. Equities analysts anticipate that Dropbox, Inc. will post 1.64 EPS for the current year.

Insider Buying and Selling

In other Dropbox news, CFO Timothy Regan sold 10,000 shares of the company's stock in a transaction on Tuesday, July 1st. The stock was sold at an average price of $27.94, for a total value of $279,400.00. Following the transaction, the chief financial officer owned 516,094 shares of the company's stock, valued at $14,419,666.36. This represents a 1.90% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Karen Peacock sold 7,000 shares of the company's stock in a transaction on Tuesday, May 27th. The shares were sold at an average price of $28.53, for a total value of $199,710.00. Following the completion of the transaction, the director directly owned 25,295 shares in the company, valued at $721,666.35. This trade represents a 21.68% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 466,125 shares of company stock worth $13,221,355 over the last ninety days. Corporate insiders own 29.95% of the company's stock.

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.