GAMMA Investing LLC Acquires 186,383 Shares of Dropbox, Inc. (NASDAQ:DBX)

GAMMA Investing LLC boosted its stake in Dropbox, Inc. (NASDAQ:DBX - Free Report) by 2,895.9% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 192,819 shares of the company's stock after purchasing an additional 186,383 shares during the quarter. GAMMA Investing LLC owned about 0.06% of Dropbox worth $5,150,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Sumitomo Mitsui Trust Group Inc. increased its position in shares of Dropbox by 1.5% during the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 39,083 shares of the company's stock valued at $1,174,000 after purchasing an additional 571 shares during the last quarter. Empowered Funds LLC boosted its stake in Dropbox by 68.0% in the fourth 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 in the last quarter. Summit Trail Advisors LLC bought a new position in Dropbox during the fourth quarter valued at approximately $244,000. Avion Wealth grew its position in Dropbox by 4,472.7% during the fourth quarter. Avion Wealth now owns 1,006 shares of the company's stock valued at $30,000 after acquiring an additional 984 shares during the last quarter. Finally, V Square Quantitative Management LLC raised its stake in shares of Dropbox by 39.0% during the fourth quarter. V Square Quantitative Management LLC now owns 1,717 shares of the company's stock worth $52,000 after acquiring an additional 482 shares in the last quarter. 94.84% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Dropbox

In related news, CFO Timothy Regan sold 2,500 shares of the company's stock in a transaction 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 sale, the chief financial officer now directly owns 367,791 shares of the company's stock, valued at $9,772,206.87. This represents a 0.68% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Karen Peacock sold 7,000 shares of the firm'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 transaction, the director now directly owns 25,295 shares of the company's stock, valued at $721,666.35. This represents a 21.68% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 32,527 shares of company stock worth $926,986 in the last 90 days. Company insiders own 29.95% of the company's stock.

Dropbox Trading Up 0.1%

DBX stock traded up $0.04 during midday trading on Friday, hitting $28.09. The company had a trading volume of 3,202,713 shares, compared to its average volume of 3,440,190. Dropbox, Inc. has a 52 week low of $20.68 and a 52 week high of $33.33. The stock's 50 day moving average price is $28.36 and its 200 day moving average price is $28.86. The stock has a market cap of $7.91 billion, a price-to-earnings ratio of 19.92, a PEG ratio of 1.70 and a beta of 0.66.

Dropbox (NASDAQ:DBX - Get Free Report) last issued its earnings results on Thursday, May 8th. The company reported $0.70 EPS for the quarter, topping the consensus estimate of $0.62 by $0.08. The company had revenue of $624.70 million for the quarter, compared to the consensus estimate of $619.56 million. Dropbox had a net margin of 17.75% and a negative return on equity of 132.63%. The firm's revenue for the quarter was down 1.0% on a year-over-year basis. During the same period in the previous year, the firm earned $0.58 earnings per share. Analysts predict that Dropbox, Inc. will post 1.64 earnings per share for the current year.

Analyst Ratings Changes

A number of brokerages have recently issued reports on DBX. UBS Group increased their target price on shares of Dropbox from $30.00 to $31.00 and gave the company a "buy" rating in a report on Friday, May 9th. Citigroup upped their price target on shares of 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.