UniSuper Management Pty Ltd Buys New Holdings 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 filing with the SEC. The fund acquired 75,889 shares of the company's stock, valued at approximately $2,027,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in DBX. D. E. Shaw & Co. Inc. bought a new stake in shares of Dropbox during the 4th quarter valued at $9,189,000. Focus Partners Wealth bought a new stake in shares of Dropbox during the 4th quarter valued at $219,000. Janus Henderson Group PLC raised its stake in shares of Dropbox by 3.0% during the 4th quarter. Janus Henderson Group PLC now owns 267,014 shares of the company's stock valued at $8,022,000 after purchasing an additional 7,662 shares during the period. Quantinno Capital Management LP raised its stake in shares of Dropbox by 34.2% during the 4th quarter. Quantinno Capital Management LP now owns 406,076 shares of the company's stock valued at $12,199,000 after purchasing an additional 103,392 shares during the period. Finally, Rafferty Asset Management LLC raised its stake in shares of Dropbox by 9.5% during the 4th quarter. Rafferty Asset Management LLC now owns 20,088 shares of the company's stock valued at $603,000 after purchasing an additional 1,742 shares during the period. 94.84% of the stock is currently owned by institutional investors.

Insider Transactions at Dropbox

In other news, insider William T. Yoon sold 11,430 shares of the company's stock in a transaction dated Monday, September 8th. The stock was sold at an average price of $30.16, for a total value of $344,728.80. Following the completion of the transaction, the insider directly owned 223,662 shares in the company, valued at approximately $6,745,645.92. This represents a 4.86% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Ashraf Alkarmi sold 10,098 shares of the company's stock in a transaction dated Monday, August 18th. The stock was sold at an average price of $27.30, for a total value of $275,675.40. Following the completion of the transaction, the insider owned 469,333 shares of the company's stock, valued at $12,812,790.90. The trade was a 2.11% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 314,333 shares of company stock worth $8,938,399. Company insiders own 28.59% of the company's stock.

Dropbox Stock Performance

Dropbox stock traded up $0.30 during midday trading on Tuesday, hitting $32.17. 3,187,820 shares of the company's stock were exchanged, compared to its average volume of 2,874,033. The stock has a 50-day moving average price of $28.23 and a two-hundred day moving average price of $27.92. Dropbox, Inc. has a 52-week low of $24.25 and a 52-week high of $33.33. The company has a market cap of $8.68 billion, a P/E ratio of 19.62, a PEG ratio of 4.21 and a beta of 0.70.

Dropbox (NASDAQ:DBX - Get Free Report) last posted its quarterly earnings data on Thursday, August 7th. The company reported $0.71 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.63 by $0.08. Dropbox had a negative return on equity of 61.31% and a net margin of 19.17%.The firm had revenue of $625.70 million during the quarter, compared to analysts' expectations of $618.60 million. During the same period in the prior year, the business earned $0.60 EPS. The company's revenue for the quarter was down 1.4% compared to the same quarter last year. As a group, sell-side analysts expect that Dropbox, Inc. will post 1.64 earnings per share for the current year.

Wall Street Analysts Forecast Growth

DBX has been the topic of a number of analyst reports. Wall Street Zen lowered Dropbox from a "buy" rating to a "hold" rating in a research note on Friday, September 5th. UBS Group reduced their target price on 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, According to MarketBeat.com, the company presently has an average rating of "Hold" and an average target price 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.