Quantinno Capital Management LP Cuts Position in Dropbox, Inc. $DBX

Quantinno Capital Management LP trimmed its position in shares of Dropbox, Inc. (NASDAQ:DBX - Free Report) by 30.5% during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,493,515 shares of the company's stock after selling 656,679 shares during the period. Quantinno Capital Management LP owned approximately 0.64% of Dropbox worth $33,933,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of DBX. LSV Asset Management raised its holdings in shares of Dropbox by 1.1% in the 4th quarter. LSV Asset Management now owns 11,735,641 shares of the company's stock valued at $326,251,000 after buying an additional 121,999 shares during the period. Arrowstreet Capital Limited Partnership boosted its holdings in Dropbox by 12.7% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 8,533,736 shares of the company's stock valued at $193,886,000 after acquiring an additional 960,109 shares during the period. Jacobs Levy Equity Management Inc. grew its position in Dropbox by 1.4% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 5,095,485 shares of the company's stock valued at $153,935,000 after acquiring an additional 70,867 shares in the last quarter. Allianz Asset Management GmbH grew its position in Dropbox by 28.1% in the 4th quarter. Allianz Asset Management GmbH now owns 2,720,372 shares of the company's stock valued at $75,626,000 after acquiring an additional 596,440 shares in the last quarter. Finally, Robeco Institutional Asset Management B.V. increased its stake in Dropbox by 22.5% during the fourth quarter. Robeco Institutional Asset Management B.V. now owns 2,518,534 shares of the company's stock worth $70,015,000 after purchasing an additional 463,258 shares during the period. 94.84% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Dropbox

In related news, CEO Andrew Houston sold 37,498 shares of Dropbox stock in a transaction that occurred on Thursday, May 14th. The shares were sold at an average price of $25.96, for a total value of $973,448.08. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CTO Ali Dasdan sold 5,666 shares of Dropbox stock in a transaction that occurred on Monday, May 18th. The stock was sold at an average price of $27.56, for a total transaction of $156,154.96. Following the completion of the transaction, the chief technology officer owned 514,611 shares of the company's stock, valued at $14,182,679.16. This represents a 1.09% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last 90 days, insiders sold 127,313 shares of company stock valued at $3,447,542. 35.48% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

DBX has been the topic of several research reports. Royal Bank Of Canada reissued an "outperform" rating on shares of Dropbox in a research report on Monday, June 1st. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Dropbox in a research note on Monday, May 4th. Citigroup upped their target price on shares of Dropbox from $27.00 to $28.00 and gave the stock a "neutral" rating in a research note on Monday, May 11th. Finally, Wall Street Zen upgraded shares of Dropbox from a "hold" rating to a "buy" rating in a report on Sunday, June 28th. One research analyst has rated the stock with a Buy rating, three have assigned a Hold rating and two have issued a Sell rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Reduce" and a consensus price target of $27.00.

Dropbox Price Performance

DBX opened at $32.11 on Friday. The business has a fifty day moving average price of $28.20 and a 200 day moving average price of $26.15. Dropbox, Inc. has a 12 month low of $21.69 and a 12 month high of $33.54. The stock has a market capitalization of $7.49 billion, a price-to-earnings ratio of 17.55, a PEG ratio of 3.65 and a beta of 0.66.

Dropbox (NASDAQ:DBX - Get Free Report) last posted its quarterly earnings results on Thursday, May 7th. The company reported $0.76 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.71 by $0.05. The company had revenue of $629.50 million for the quarter, compared to analyst estimates of $620.56 million. Dropbox had a negative return on equity of 30.01% and a net margin of 18.71%.Dropbox's revenue for the quarter was up .8% compared to the same quarter last year. During the same quarter last year, the company earned $0.70 EPS. On average, research analysts anticipate that Dropbox, Inc. will post 2.09 earnings per share for the current year.

About Dropbox

Dropbox, Inc NASDAQ: DBX is a leading provider of cloud-based file storage, collaboration, and productivity tools. Founded in 2007 and headquartered in San Francisco, California, the company offers a suite of services designed to help individuals and organizations securely store, share, and manage digital content. Dropbox has grown from a simple file-syncing application into an integrated collaboration platform used by millions of customers around the globe.

At its core, Dropbox provides cloud storage plans tailored for consumers and businesses.

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