Livforsakringsbolaget Skandia Omsesidigt Raises Stock Position in Dropbox, Inc. $DBX

Key Points

• Livforsakringsbolaget Skandia Omsesidigt increased its stake in Dropbox, Inc. by 26.0% in Q2, holding 197,200 shares valued at approximately $5.6 million.
• Several hedge funds have also increased their positions in Dropbox, with institutional investors owning 94.84% of the stock.
• UBS Group downgraded Dropbox's rating from "neutral" to "sell," lowering the target price from $29.00 to $27.00, while the stock currently trades at about $30.79.

Livforsakringsbolaget Skandia Omsesidigt grew its position in shares of Dropbox, Inc. (NASDAQ:DBX - Free Report) by 26.0% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 197,200 shares of the company's stock after buying an additional 40,700 shares during the quarter. Livforsakringsbolaget Skandia Omsesidigt owned 0.07% of Dropbox worth $5,636,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently made changes to their positions in the company. Elequin Capital LP grew its holdings in shares of Dropbox by 71.0% during the first quarter. Elequin Capital LP now owns 1,130 shares of the company's stock valued at $30,000 after buying an additional 469 shares during the last quarter. Brooklyn Investment Group lifted its position in Dropbox by 250.3% during the first quarter. Brooklyn Investment Group now owns 1,387 shares of the company's stock valued at $37,000 after purchasing an additional 991 shares during the period. SBI Securities Co. Ltd. lifted 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 valued at $48,000 after purchasing an additional 449 shares during the period. Fifth Third Bancorp lifted its position in Dropbox by 27.3% during the first quarter. Fifth Third Bancorp now owns 2,288 shares of the company's stock valued at $61,000 after purchasing an additional 490 shares during the period. Finally, UMB Bank n.a. lifted its position in Dropbox by 115.0% during the first quarter. UMB Bank n.a. now owns 2,501 shares of the company's stock valued at $67,000 after purchasing an additional 1,338 shares during the period. Hedge funds and other institutional investors own 94.84% of the company's stock.

Wall Street Analyst Weigh In

DBX has been the topic of a number of research analyst reports. Wall Street Zen downgraded shares of Dropbox from a "buy" rating to a "hold" rating in a research report on Friday, September 5th. UBS Group downgraded shares of Dropbox from a "neutral" rating to a "sell" rating and lowered their price objective for the company from $29.00 to $27.00 in a research report on Thursday, September 18th. Two investment analysts have rated the stock with a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Dropbox presently has a consensus rating of "Reduce" and an average price target of $29.67.

Insider Activity at Dropbox

In related news, insider William T. Yoon sold 11,430 shares of the firm's stock in a transaction on Monday, September 8th. The shares were sold at an average price of $30.16, for a total transaction of $344,728.80. Following the completion of the transaction, the insider directly owned 223,662 shares of the company's stock, valued at approximately $6,745,645.92. This trade represents a 4.86% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Timothy Regan sold 10,000 shares of the firm's stock in a transaction on Tuesday, July 1st. The shares were sold at an average price of $27.94, for a total transaction of $279,400.00. Following the transaction, the chief financial officer directly owned 516,094 shares of the company's stock, valued at $14,419,666.36. The trade was a 1.90% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 314,333 shares of company stock valued at $8,938,399 in the last ninety days. Corporate insiders own 28.59% of the company's stock.

Dropbox Price Performance

Shares of DBX stock traded up $0.13 on Tuesday, hitting $31.04. 917,205 shares of the stock traded hands, compared to its average volume of 3,739,202. The firm has a market cap of $8.38 billion, a price-to-earnings ratio of 18.91, a PEG ratio of 4.05 and a beta of 0.69. Dropbox, Inc. has a 52 week low of $24.42 and a 52 week high of $33.33. The firm has a 50 day simple moving average of $28.54 and a two-hundred day simple moving average of $28.07.

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