Dropbox, Inc. (NASDAQ:DBX) Shares Bought by GAMMA Investing LLC

GAMMA Investing LLC lifted its stake in shares of Dropbox, Inc. (NASDAQ:DBX - Free Report) by 2,895.9% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 192,819 shares of the company's stock after acquiring an additional 186,383 shares during the period. GAMMA Investing LLC owned 0.06% of Dropbox worth $5,150,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Empowered Funds LLC boosted its stake in Dropbox by 68.0% in the 4th quarter. Empowered Funds LLC now owns 36,140 shares of the company's stock worth $1,086,000 after buying an additional 14,629 shares during the last quarter. Intech Investment Management LLC boosted its stake in Dropbox by 185.2% in the 4th quarter. Intech Investment Management LLC now owns 150,488 shares of the company's stock worth $4,521,000 after buying an additional 97,725 shares during the last quarter. HighTower Advisors LLC boosted its stake in Dropbox by 4.3% in the 4th quarter. HighTower Advisors LLC now owns 27,707 shares of the company's stock worth $832,000 after buying an additional 1,131 shares during the last quarter. KLP Kapitalforvaltning AS acquired a new stake in Dropbox in the 4th quarter worth about $25,375,000. Finally, CIBC Asset Management Inc acquired a new stake in Dropbox in the 4th quarter worth about $242,000. Institutional investors and hedge funds own 94.84% of the company's stock.

Insiders Place Their Bets

In other news, CFO Timothy Regan sold 2,500 shares of Dropbox stock in a transaction that occurred on Friday, March 28th. The stock was sold at an average price of $26.57, for a total value of $66,425.00. Following the completion of the transaction, the chief financial officer now owns 367,791 shares in the company, valued at approximately $9,772,206.87. This trade represents a 0.68% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Andrew Houston sold 319,000 shares of Dropbox stock in a transaction that occurred on Wednesday, June 11th. The stock was sold at an average price of $28.48, for a total value of $9,085,120.00. Following the completion of the transaction, the chief executive officer now owns 8,266,666 shares of the company's stock, valued at approximately $235,434,647.68. The trade was a 3.72% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 351,527 shares of company stock worth $10,012,106 in the last three months. 29.95% of the stock is owned by insiders.

Wall Street Analyst Weigh In

DBX has been the topic of several research analyst reports. UBS Group lifted their price objective on Dropbox from $30.00 to $31.00 and gave the company a "buy" rating in a research note on Friday, May 9th. Citigroup lifted their price objective on Dropbox from $30.00 to $32.00 and gave the company a "neutral" rating in a research note on Friday, May 9th.

Dropbox Stock Performance

Shares of NASDAQ:DBX traded up $0.04 during mid-day trading on Friday, hitting $28.09. 3,202,713 shares of the company traded hands, compared to its average volume of 3,432,660. The firm has a market cap of $7.91 billion, a P/E ratio of 19.92, a PEG ratio of 1.70 and a beta of 0.66. Dropbox, Inc. has a 52-week low of $20.68 and a 52-week high of $33.33. The firm's 50 day simple moving average is $28.42 and its 200 day simple moving average is $28.87.

Dropbox (NASDAQ:DBX - Get Free Report) last posted its quarterly earnings data 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. Dropbox had a negative return on equity of 132.63% and a net margin of 17.75%. The company had revenue of $624.70 million for the quarter, compared to the consensus estimate of $619.56 million. During the same period in the previous year, the business earned $0.58 EPS. Dropbox's revenue for the quarter was down 1.0% compared to the same quarter last year. Equities research analysts expect that Dropbox, Inc. will post 1.64 EPS for the current fiscal year.

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.