UniSuper Management Pty Ltd Invests $2.03 Million in Dropbox, Inc. $DBX

Key Points

• UniSuper Management Pty Ltd invested approximately $2.03 million in Dropbox, acquiring 75,889 shares during the first quarter of this year.
• Other institutional investors also increased their positions in Dropbox, with notable increases from Elequin Capital LP and Brooklyn Investment Group, indicating growing interest in the company's stock.
• Dropbox reported $0.71 EPS for the last quarter, exceeding analyst estimates, but noted a 1.4% drop in revenue compared to the previous year.

UniSuper Management Pty Ltd acquired a new stake in shares of Dropbox, Inc. (NASDAQ:DBX - Free Report) during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 75,889 shares of the company's stock, valued at approximately $2,027,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Elequin Capital LP lifted its position in Dropbox by 71.0% in the 1st quarter. Elequin Capital LP now owns 1,130 shares of the company's stock worth $30,000 after buying an additional 469 shares in the last quarter. Brooklyn Investment Group lifted its position in Dropbox by 250.3% in the 1st quarter. Brooklyn Investment Group now owns 1,387 shares of the company's stock worth $37,000 after buying an additional 991 shares in the last quarter. SBI Securities Co. Ltd. lifted its position in Dropbox by 33.4% in the 1st quarter. SBI Securities Co. Ltd. now owns 1,794 shares of the company's stock worth $48,000 after buying an additional 449 shares in the last quarter. Fifth Third Bancorp lifted its position in Dropbox by 27.3% in the 1st quarter. Fifth Third Bancorp now owns 2,288 shares of the company's stock worth $61,000 after buying an additional 490 shares in the last quarter. Finally, UMB Bank n.a. lifted its position in Dropbox by 115.0% in the 1st quarter. UMB Bank n.a. now owns 2,501 shares of the company's stock worth $67,000 after buying an additional 1,338 shares in the last quarter. Hedge funds and other institutional investors own 94.84% of the company's stock.

Dropbox Price Performance

Shares of DBX opened at $30.71 on Thursday. The company has a market capitalization of $8.29 billion, a PE ratio of 18.73, a price-to-earnings-growth ratio of 4.13 and a beta of 0.70. Dropbox, Inc. has a one year low of $23.33 and a one year high of $33.33. The company's fifty day moving average price is $27.93 and its 200 day moving average price is $27.77.

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

Insider Buying and Selling

In other Dropbox news, CEO Andrew Houston sold 45,835 shares of the firm's stock in a transaction on Monday, September 8th. The shares were sold at an average price of $30.04, for a total value of $1,376,883.40. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider William T. Yoon sold 11,430 shares of the firm's stock in a transaction on Monday, September 8th. The stock was sold at an average price of $30.16, for a total transaction of $344,728.80. Following the completion of the sale, the insider owned 223,662 shares in the company, valued at $6,745,645.92. This represents a 4.86% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 326,931 shares of company stock worth $9,292,403. 29.95% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of research firms have issued reports on DBX. 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 cut their target price on shares of Dropbox from $31.00 to $29.00 and set a "neutral" rating for the company in a research report on Friday, August 8th. Three research analysts have rated the stock with a Hold rating, Based on data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $30.33.

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.

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