Jacobs Levy Equity Management Inc. Lowers Stock Holdings in Dropbox, Inc. $DBX

Key Points

• Jacobs Levy Equity Management Inc. reduced its position in Dropbox by 6.8%, now holding approximately 5.7 million shares valued at $152 million as of the latest SEC filing.
• Several other institutional investors have increased their ownership in Dropbox, with LSV Asset Management growing its stake by 18.4%, now owning over 7.6 million shares.
• Despite the recent performance, Dropbox's shares received mixed reviews from analysts, with UBS lowering its price target from $31 to $29 while Citigroup raised theirs from $30 to $32, maintaining a "neutral" rating.

Jacobs Levy Equity Management Inc. reduced its stake in Dropbox, Inc. (NASDAQ:DBX - Free Report) by 6.8% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 5,718,967 shares of the company's stock after selling 414,811 shares during the quarter. Jacobs Levy Equity Management Inc. owned approximately 1.90% of Dropbox worth $152,754,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. SG Americas Securities LLC acquired a new position in shares of Dropbox in the 1st quarter valued at $647,000. Rehmann Capital Advisory Group acquired a new position in shares of Dropbox in the 1st quarter valued at $675,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in shares of Dropbox by 8.5% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,761,252 shares of the company's stock valued at $52,908,000 after purchasing an additional 137,916 shares during the last quarter. Commerce Bank lifted its stake in shares of Dropbox by 94.9% in the 1st quarter. Commerce Bank now owns 203,052 shares of the company's stock valued at $5,424,000 after purchasing an additional 98,867 shares during the last quarter. Finally, Two Sigma Advisers LP lifted its stake in shares of Dropbox by 44.7% in the 4th quarter. Two Sigma Advisers LP now owns 131,100 shares of the company's stock valued at $3,938,000 after purchasing an additional 40,500 shares during the last quarter. Institutional investors and hedge funds own 94.84% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the company. UBS Group decreased their target price on Dropbox from $31.00 to $29.00 and set a "neutral" rating on the stock in a research note on Friday, August 8th. Wall Street Zen downgraded Dropbox from a "buy" rating to a "hold" rating in a report on Friday. Three investment analysts have rated the stock with a Hold rating, Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $30.33.

Dropbox Stock Performance

DBX stock traded up $0.86 during midday trading on Tuesday, hitting $31.20. 3,984,630 shares of the stock were exchanged, compared to its average volume of 3,721,955. The stock's 50-day moving average price is $27.80 and its 200-day moving average price is $27.72. The stock has a market cap of $8.42 billion, a price-to-earnings ratio of 19.02, a PEG ratio of 3.95 and a beta of 0.69. Dropbox, Inc. has a fifty-two week low of $23.25 and a fifty-two week high of $33.33.

Dropbox (NASDAQ:DBX - Get Free Report) last issued its quarterly earnings data on Thursday, August 7th. The company reported $0.71 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.63 by $0.08. The firm had revenue of $625.70 million during the quarter, compared to analysts' expectations of $618.60 million. Dropbox had a negative return on equity of 61.31% and a net margin of 19.17%.Dropbox's revenue was down 1.4% on a year-over-year basis. During the same period in the previous year, the firm posted $0.60 earnings per share. Research analysts anticipate that Dropbox, Inc. will post 1.64 EPS for the current year.

Insider Activity at Dropbox

In other Dropbox news, CFO Timothy Regan sold 10,000 shares of the firm's stock in a transaction on Tuesday, July 1st. The stock was sold at an average price of $27.94, for a total transaction of $279,400.00. Following the completion of the transaction, the chief financial officer owned 516,094 shares of the company's stock, valued at approximately $14,419,666.36. This trade represents a 1.90% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Ashraf Alkarmi sold 10,098 shares of Dropbox stock in a transaction on Monday, August 18th. The shares were sold at an average price of $27.30, for a total value of $275,675.40. Following the completion of the sale, the insider directly owned 469,333 shares of the company's stock, valued at approximately $12,812,790.90. This represents a 2.11% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 563,854 shares of company stock valued at $15,911,550 in the last ninety days. 28.59% of the stock is owned by insiders.

About Dropbox

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.