Dropbox, Inc. (NASDAQ:DBX) Shares Bought by Summit Trail Advisors LLC

Summit Trail Advisors LLC grew its holdings in Dropbox, Inc. (NASDAQ:DBX - Free Report) by 204.2% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 24,691 shares of the company's stock after acquiring an additional 16,574 shares during the quarter. Summit Trail Advisors LLC's holdings in Dropbox were worth $659,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the business. SG Americas Securities LLC purchased a new position in shares of Dropbox during the 1st quarter valued at approximately $647,000. Intech Investment Management LLC increased its holdings in shares of Dropbox by 185.2% during the 4th quarter. Intech Investment Management LLC now owns 150,488 shares of the company's stock valued at $4,521,000 after purchasing an additional 97,725 shares in the last quarter. HighTower Advisors LLC increased its holdings in shares of Dropbox by 4.3% during the 4th quarter. HighTower Advisors LLC now owns 27,707 shares of the company's stock valued at $832,000 after purchasing an additional 1,131 shares in the last quarter. KLP Kapitalforvaltning AS purchased a new position in shares of Dropbox during the 4th quarter valued at approximately $25,375,000. Finally, IFP Advisors Inc increased its holdings in shares of Dropbox by 436.7% during the 4th quarter. IFP Advisors Inc now owns 3,322 shares of the company's stock valued at $101,000 after purchasing an additional 2,703 shares in the last quarter. Institutional investors and hedge funds own 94.84% of the company's stock.

Insider Buying and Selling

In related news, insider Ashraf Alkarmi sold 10,098 shares of the business's stock in a transaction on Friday, June 13th. The shares were sold at an average price of $28.10, for a total value of $283,753.80. Following the completion of the sale, the insider owned 492,856 shares of the company's stock, valued at approximately $13,849,253.60. The trade was a 2.01% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Andrew Houston sold 92,000 shares of the business's stock in a transaction on Tuesday, July 1st. The stock was sold at an average price of $27.96, for a total transaction of $2,572,320.00. Following the completion of the sale, the chief executive officer directly owned 8,266,666 shares of the company's stock, valued at approximately $231,135,981.36. The trade was a 1.10% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 466,125 shares of company stock worth $13,222,405 in the last 90 days. 29.95% of the stock is owned by insiders.

Dropbox Price Performance

NASDAQ DBX traded up $0.40 on Friday, hitting $27.95. The company had a trading volume of 2,351,807 shares, compared to its average volume of 3,394,626. The company has a market capitalization of $7.87 billion, a PE ratio of 18.27, a PEG ratio of 11.01 and a beta of 0.65. The company's fifty day moving average price is $28.75 and its 200-day moving average price is $28.78. Dropbox, Inc. has a 12-month low of $21.32 and a 12-month high of $33.33.

Dropbox (NASDAQ:DBX - Get Free Report) last issued its quarterly earnings results on Thursday, May 8th. The company reported $0.70 EPS for the quarter, topping the consensus estimate of $0.62 by $0.08. The company had revenue of $624.70 million during the quarter, compared to analyst estimates of $619.56 million. Dropbox had a net margin of 18.50% and a negative return on equity of 79.66%. The firm's revenue was down 1.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.58 EPS. On average, sell-side analysts anticipate that Dropbox, Inc. will post 1.64 EPS for the current year.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the stock. UBS Group lifted their target price on shares of Dropbox from $30.00 to $31.00 and gave the company a "buy" rating in a report on Friday, May 9th. Citigroup lifted their target price on shares of Dropbox from $30.00 to $32.00 and gave the company a "neutral" rating in a report on Friday, May 9th.

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.