SG Americas Securities LLC purchased a new position in Dropbox, Inc. (NASDAQ:DBX - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 24,231 shares of the company's stock, valued at approximately $647,000.
A number of other institutional investors have also recently bought and sold shares of the stock. GAMMA Investing LLC increased its stake in Dropbox by 12.2% in the 1st quarter. GAMMA Investing LLC now owns 7,219 shares of the company's stock worth $193,000 after purchasing an additional 783 shares in the last quarter. Farther Finance Advisors LLC boosted its position in Dropbox by 4,160.7% during the 1st quarter. Farther Finance Advisors LLC now owns 7,371 shares of the company's stock worth $200,000 after acquiring an additional 7,198 shares during the period. Wedge Capital Management L L P NC boosted its position in Dropbox by 1,640.3% during the 1st quarter. Wedge Capital Management L L P NC now owns 2,141,026 shares of the company's stock worth $57,187,000 after acquiring an additional 2,017,997 shares during the period. UMB Bank n.a. boosted its position in Dropbox by 115.0% during the 1st 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 period. Finally, Parallel Advisors LLC boosted its position in Dropbox by 5.6% during the 1st quarter. Parallel Advisors LLC now owns 7,411 shares of the company's stock worth $198,000 after acquiring an additional 395 shares during the period. Hedge funds and other institutional investors own 94.84% of the company's stock.
Insider Buying and Selling
In related news, CEO Andrew Houston sold 319,000 shares of the business's stock in a transaction that occurred on Wednesday, June 11th. The stock was sold at an average price of $28.48, for a total value of $9,085,120.00. Following the completion of the sale, the chief executive officer now directly owns 8,266,666 shares in the company, valued at approximately $235,434,647.68. The trade was a 3.72% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Ashraf Alkarmi sold 10,098 shares of the business's stock in a transaction that occurred on 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 now owns 492,856 shares of the company's stock, valued at approximately $13,849,253.60. This trade represents a 2.01% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 364,125 shares of company stock worth $10,366,110. 28.59% of the stock is currently owned by insiders.
Dropbox Stock Performance
Shares of Dropbox stock traded up $0.12 during trading on Tuesday, hitting $28.84. 2,980,760 shares of the stock traded hands, compared to its average volume of 3,394,489. The stock has a market cap of $8.12 billion, a P/E ratio of 16.23 and a beta of 0.66. Dropbox, Inc. has a twelve month low of $21.32 and a twelve month high of $33.33. The company has a fifty day moving average price of $28.65 and a two-hundred day moving average price of $28.88.
Dropbox (NASDAQ:DBX - Get Free Report) last announced its quarterly earnings results on Thursday, May 8th. The company reported $0.70 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.62 by $0.08. The business had revenue of $624.70 million during the quarter, compared to analyst estimates of $619.56 million. Dropbox had a negative return on equity of 79.66% and a net margin of 18.50%. The firm's revenue was down 1.0% on a year-over-year basis. During the same period in the previous year, the company earned $0.58 EPS. On average, equities research analysts expect that Dropbox, Inc. will post 1.64 EPS for the current fiscal year.
Analyst Upgrades and Downgrades
DBX has been the subject of a number of research reports. Citigroup raised their price objective on Dropbox from $30.00 to $32.00 and gave the stock a "neutral" rating in a research report on Friday, May 9th. UBS Group raised their price objective on Dropbox from $30.00 to $31.00 and gave the stock a "buy" rating in a research report on Friday, May 9th.
View Our Latest Stock Report on DBX
Dropbox Company Profile
(
Free Report)
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.
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