Graphene Investments SAS Grows Position in Dropbox, Inc. (NASDAQ:DBX)

Graphene Investments SAS boosted its stake in shares of Dropbox, Inc. (NASDAQ:DBX - Free Report) by 16.4% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 113,500 shares of the company's stock after acquiring an additional 16,000 shares during the quarter. Dropbox comprises 2.2% of Graphene Investments SAS's investment portfolio, making the stock its 11th biggest holding. Graphene Investments SAS's holdings in Dropbox were worth $3,032,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in DBX. EverSource Wealth Advisors LLC lifted its position in Dropbox by 96.1% during the 4th quarter. EverSource Wealth Advisors LLC now owns 865 shares of the company's stock worth $26,000 after acquiring an additional 424 shares during the period. True Wealth Design LLC lifted its holdings in shares of Dropbox by 191.0% in the 4th quarter. True Wealth Design LLC now owns 1,036 shares of the company's stock valued at $31,000 after buying an additional 680 shares during the period. SBI Securities Co. Ltd. acquired a new stake in shares of Dropbox in the 4th quarter valued at approximately $40,000. Huntington National Bank lifted its holdings in shares of Dropbox by 768.9% in the 4th quarter. Huntington National Bank now owns 1,538 shares of the company's stock valued at $46,000 after buying an additional 1,361 shares during the period. Finally, Vision Financial Markets LLC acquired a new stake in shares of Dropbox in the 4th quarter valued at approximately $53,000. 94.84% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

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

Insider Activity

In related news, Director Lisa M. Campbell sold 5,239 shares of Dropbox stock in a transaction on Friday, May 16th. The stock was sold at an average price of $28.94, for a total transaction of $151,616.66. Following the completion of the transaction, the director directly owned 19,220 shares of the company's stock, valued at approximately $556,226.80. The trade was a 21.42% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Karen Peacock sold 7,000 shares of Dropbox stock in a transaction on Tuesday, May 27th. The stock was sold at an average price of $28.53, for a total value of $199,710.00. Following the transaction, the director directly owned 25,295 shares of the company's stock, valued at approximately $721,666.35. This represents a 21.68% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 361,625 shares of company stock valued at $10,299,685 in the last 90 days. Insiders own 28.59% of the company's stock.

Dropbox Trading Up 1.7%

Shares of DBX traded up $0.48 during mid-day trading on Monday, hitting $28.60. The company's stock had a trading volume of 3,520,140 shares, compared to its average volume of 3,378,265. The firm has a 50-day simple moving average of $28.76 and a 200 day simple moving average of $28.84. The firm has a market capitalization of $8.05 billion, a P/E ratio of 18.69 and a beta of 0.66. Dropbox, Inc. has a 1-year low of $21.32 and a 1-year high of $33.33.

Dropbox (NASDAQ:DBX - Get Free Report) last issued 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. The firm had revenue of $624.70 million during 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%. Dropbox's revenue was down 1.0% on a year-over-year basis. During the same period in the previous year, the firm posted $0.58 earnings per share. As a group, sell-side analysts predict 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.