WINTON GROUP Ltd Purchases New Position in Dropbox, Inc. $DBX

Key Points

• WINTON GROUP Ltd purchased 161,162 Dropbox shares worth approximately $4.4 million in the second quarter, while institutional investors collectively own 94.84% of the stock.
• Dropbox reported quarterly EPS of $0.75, slightly exceeding estimates, and revenue of $631.5 million, up 0.9% year over year. Shares recently traded at $35.05, near their 12-month high of $36.37.
• Analyst sentiment remains cautious, with a consensus rating of “Reduce” and an average price target of $30.75; insiders have also sold 55,647 shares worth about $1.88 million over the past 90 days.

WINTON GROUP Ltd bought a new stake in Dropbox, Inc. (NASDAQ:DBX - Free Report) during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 161,162 shares of the company's stock, valued at approximately $4,427,000. WINTON GROUP Ltd owned approximately 0.07% of Dropbox as of its most recent filing with the SEC.

A number of other large investors have also bought and sold shares of the business. Baird Financial Group Inc. bought a new stake in shares of Dropbox during the second quarter worth $209,000. Spark Investment Management LLC acquired a new stake in shares of Dropbox during the second quarter worth $577,000. Nykredit A S bought a new stake in shares of Dropbox in the 2nd quarter valued at about $261,000. Corient Private Wealth LP increased its stake in Dropbox by 358.4% in the second quarter. Corient Private Wealth LP now owns 244,482 shares of the company's stock valued at $6,716,000 after purchasing an additional 191,147 shares in the last quarter. Finally, VIRGINIA RETIREMENT SYSTEMS ET Al bought a new stake in shares of Dropbox in the 2nd quarter valued at $4,938,000. 94.84% of the stock is currently owned by institutional investors.

Dropbox Trading Up 1.3%

Shares of NASDAQ:DBX opened at $35.05 on Friday. The firm has a 50 day moving average of $32.69 and a 200-day moving average of $28.04. Dropbox, Inc. has a 12 month low of $21.69 and a 12 month high of $36.37. The stock has a market capitalization of $7.91 billion, a PE ratio of 19.47, a PEG ratio of 5.09 and a beta of 0.65.

Dropbox (NASDAQ:DBX - Get Free Report) last issued its earnings results on Thursday, August 6th. The company reported $0.75 earnings per share for the quarter, beating analysts' consensus estimates of $0.74 by $0.01. The firm had revenue of $631.50 million for the quarter, compared to the consensus estimate of $626.69 million. Dropbox had a negative return on equity of 24.26% and a net margin of 17.49%.The company's revenue was up .9% compared to the same quarter last year. During the same quarter last year, the business posted $0.71 EPS. On average, research analysts predict that Dropbox, Inc. will post 1.94 EPS for the current fiscal year.

Insiders Place Their Bets

In other Dropbox news, Director Karen Peacock sold 2,000 shares of the firm's stock in a transaction that occurred on Wednesday, July 29th. The shares were sold at an average price of $33.00, for a total value of $66,000.00. Following the sale, the director owned 22,366 shares in the company, valued at $738,078. This trade represents a 8.21% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider William Yoon sold 12,382 shares of the business's stock in a transaction on Friday, September 4th. The stock was sold at an average price of $34.78, for a total value of $430,645.96. Following the sale, the insider owned 366,693 shares in the company, valued at $12,753,582.54. This represents a 3.27% 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. Insiders have sold 55,647 shares of company stock worth $1,876,439 over the last 90 days. Insiders own 35.48% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts have commented on DBX shares. Citigroup raised their target price on shares of Dropbox from $28.00 to $33.00 and gave the stock a "neutral" rating in a report on Friday, August 7th. Royal Bank Of Canada reiterated an "outperform" rating and set a $42.00 target price on shares of Dropbox in a report on Thursday, September 3rd. Bank of America reiterated an "underperform" rating on shares of Dropbox in a research note on Friday, August 7th. William Blair upgraded Dropbox from an "underperform" rating to a "market perform" rating in a research note on Friday, August 7th. Finally, Weiss Ratings upgraded shares of Dropbox from a "hold (c)" rating to a "hold (c+)" rating in a research note on Thursday, August 13th. One research analyst has rated the stock with a Buy rating, four have issued a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat, Dropbox presently has an average rating of "Reduce" and a consensus price target of $30.75.

Dropbox Profile

Dropbox, Inc NASDAQ: DBX is a technology company that provides cloud-based file storage, synchronization, sharing and collaboration services. Its platform enables individuals, businesses and organizations to store files online, access them across connected devices, and collaborate on documents and other digital content.

The company's offerings include Dropbox for file management and collaboration, Dropbox Paper for shared document and project work, Dropbox Sign for electronic signatures, and DocSend for securely sharing and tracking business documents.

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