Oak Thistle LLC Buys 28,275 Shares of Dropbox, Inc. (NASDAQ:DBX)

Oak Thistle LLC grew its stake in shares of Dropbox, Inc. (NASDAQ:DBX - Free Report) by 87.7% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 60,524 shares of the company's stock after acquiring an additional 28,275 shares during the quarter. Oak Thistle LLC's holdings in Dropbox were worth $1,617,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of DBX. Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in shares of Dropbox during the first quarter valued at $6,401,000. Allianz Asset Management GmbH boosted its position in shares of Dropbox by 25.6% during the first quarter. Allianz Asset Management GmbH now owns 981,479 shares of the company's stock valued at $26,215,000 after buying an additional 199,768 shares during the last quarter. IFP Advisors Inc boosted its position in shares of Dropbox by 30.3% during the first quarter. IFP Advisors Inc now owns 4,328 shares of the company's stock valued at $116,000 after buying an additional 1,006 shares during the last quarter. Impact Partnership Wealth LLC purchased a new stake in shares of Dropbox during the first quarter valued at $245,000. Finally, Burns Matteson Capital Management LLC boosted its position in shares of Dropbox by 3.6% during the first quarter. Burns Matteson Capital Management LLC now owns 16,158 shares of the company's stock valued at $432,000 after buying an additional 568 shares during the last quarter. 94.84% of the stock is currently owned by institutional investors.

Dropbox Stock Down 0.5%

NASDAQ:DBX traded down $0.14 on Friday, hitting $27.77. The stock had a trading volume of 2,692,653 shares, compared to its average volume of 3,347,194. The stock has a market cap of $7.82 billion, a price-to-earnings ratio of 18.15, a price-to-earnings-growth ratio of 10.98 and a beta of 0.65. The business's 50-day simple moving average is $28.22 and its two-hundred day simple moving average is $28.49. Dropbox, Inc. has a 52-week low of $21.32 and a 52-week high of $33.33.

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

Insiders Place Their Bets

In other Dropbox news, insider Ashraf Alkarmi sold 10,098 shares of the firm's stock in a transaction dated Friday, June 13th. The stock was sold at an average price of $28.10, for a total value of $283,753.80. Following the transaction, the insider directly owned 492,856 shares of the company's stock, valued at approximately $13,849,253.60. This trade represents a 2.01% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider William T. Yoon sold 5,449 shares of the firm's stock in a transaction dated Friday, May 16th. The stock was sold at an average price of $28.94, for a total value of $157,694.06. Following the completion of the transaction, the insider directly owned 245,837 shares in the company, valued at $7,114,522.78. The trade was a 2.17% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 466,125 shares of company stock valued at $13,222,130. 29.95% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several research firms recently commented on DBX. UBS Group increased their price objective on Dropbox from $30.00 to $31.00 and gave the company a "buy" rating in a research report on Friday, May 9th. Citigroup increased their price objective on Dropbox from $30.00 to $32.00 and gave the company a "neutral" rating in a research report on Friday, May 9th.

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.