Integrated Investment Consultants LLC Acquires Shares of 12,687 Dropbox, Inc. (NASDAQ:DBX)

Key Points

• Integrated Investment Consultants LLC invested approximately $339,000 in Dropbox, acquiring 12,687 shares during the first quarter.
• Dropbox reported earnings of $0.70 per share, beating analyst estimates, and generated revenue of $624.7 million for the quarter.
• Insider trades revealed significant sales, with a director selling 7,000 shares for about $199,710, indicating a reduction in their ownership stake by 21.68%.

Integrated Investment Consultants LLC purchased a new stake in Dropbox, Inc. (NASDAQ:DBX - Free Report) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 12,687 shares of the company's stock, valued at approximately $339,000.

A number of other institutional investors have also recently modified their holdings of DBX. True Wealth Design LLC boosted its position in Dropbox by 191.0% during the fourth quarter. True Wealth Design LLC now owns 1,036 shares of the company's stock worth $31,000 after purchasing an additional 680 shares in the last quarter. Huntington National Bank boosted its position in Dropbox by 768.9% during the fourth quarter. Huntington National Bank now owns 1,538 shares of the company's stock worth $46,000 after purchasing an additional 1,361 shares in the last quarter. SBI Securities Co. Ltd. boosted its position in Dropbox by 33.4% during the first quarter. SBI Securities Co. Ltd. now owns 1,794 shares of the company's stock worth $48,000 after purchasing an additional 449 shares in the last quarter. Fifth Third Bancorp raised its holdings in shares of Dropbox by 27.3% in the first quarter. Fifth Third Bancorp now owns 2,288 shares of the company's stock worth $61,000 after acquiring an additional 490 shares during the last quarter. Finally, UMB Bank n.a. raised its holdings in shares of Dropbox by 115.0% in the first quarter. UMB Bank n.a. now owns 2,501 shares of the company's stock worth $67,000 after acquiring an additional 1,338 shares during the last quarter. 94.84% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, Director Karen Peacock sold 7,000 shares of the company's stock in a transaction dated Tuesday, May 27th. The stock was sold at an average price of $28.53, for a total value of $199,710.00. Following the completion of the sale, the director owned 25,295 shares of the company's stock, valued at $721,666.35. This represents a 21.68% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Ashraf Alkarmi sold 10,098 shares of the company'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 completion of the sale, the insider directly owned 492,856 shares of the company's stock, valued at $13,849,253.60. The trade was a 2.01% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 463,625 shares of company stock valued at $13,151,405 in the last 90 days. 28.59% of the stock is owned by corporate insiders.

Dropbox Stock Performance

Dropbox stock traded down $0.13 during trading on Wednesday, hitting $27.81. The company's stock had a trading volume of 989,215 shares, compared to its average volume of 3,763,800. The stock has a market capitalization of $7.83 billion, a price-to-earnings ratio of 18.17, a P/E/G ratio of 11.05 and a beta of 0.65. The stock's fifty day moving average is $28.19 and its 200 day moving average is $28.46. 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 posted its quarterly earnings results on Thursday, May 8th. The company reported $0.70 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.62 by $0.08. Dropbox had a negative return on equity of 79.66% and a net margin of 18.50%. The firm had revenue of $624.70 million during the quarter, compared to the consensus estimate of $619.56 million. During the same quarter in the previous year, the business earned $0.58 earnings per share. The firm's quarterly revenue was down 1.0% compared to the same quarter last year. On average, research analysts anticipate that Dropbox, Inc. will post 1.64 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on DBX. UBS Group boosted their price target on Dropbox from $30.00 to $31.00 and gave the stock a "buy" rating in a report on Friday, May 9th. Citigroup boosted their price target on Dropbox from $30.00 to $32.00 and gave the stock a "neutral" rating in a 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.