AGF Management Ltd. Has $2.30 Million Stake in Dropbox, Inc. (NASDAQ:DBX)

AGF Management Ltd. raised its holdings in Dropbox, Inc. (NASDAQ:DBX) by 5.0% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 102,255 shares of the company’s stock after purchasing an additional 4,866 shares during the quarter. AGF Management Ltd.’s holdings in Dropbox were worth $2,298,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Sound Income Strategies LLC acquired a new position in shares of Dropbox during the first quarter worth approximately $28,000. GAMMA Investing LLC raised its position in Dropbox by 274.0% in the 2nd quarter. GAMMA Investing LLC now owns 1,238 shares of the company’s stock worth $28,000 after purchasing an additional 907 shares during the last quarter. Fifth Third Bancorp lifted its holdings in Dropbox by 548.8% during the 2nd quarter. Fifth Third Bancorp now owns 1,382 shares of the company’s stock worth $31,000 after buying an additional 1,169 shares in the last quarter. Principal Securities Inc. bought a new position in Dropbox in the 4th quarter valued at $34,000. Finally, Quarry LP acquired a new stake in shares of Dropbox in the 4th quarter valued at $64,000. Institutional investors and hedge funds own 94.84% of the company’s stock.

Analyst Upgrades and Downgrades

DBX has been the topic of several research reports. UBS Group cut their price target on Dropbox from $30.00 to $28.00 and set a “buy” rating on the stock in a research note on Friday, August 9th. Citigroup dropped their price objective on Dropbox from $26.00 to $25.00 and set a “neutral” rating for the company in a report on Wednesday, June 26th. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $28.67.

Dropbox Stock Up 1.3 %

NASDAQ:DBX opened at $24.59 on Friday. Dropbox, Inc. has a 12-month low of $20.68 and a 12-month high of $33.43. The stock’s fifty day simple moving average is $23.34 and its 200-day simple moving average is $23.21. The firm has a market capitalization of $8.00 billion, a P/E ratio of 16.28, a P/E/G ratio of 1.51 and a beta of 0.61.

Dropbox (NASDAQ:DBX) last issued its earnings results on Thursday, August 8th. The company reported $0.60 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.52 by $0.08. The firm had revenue of $634.50 million for the quarter, compared to analysts’ expectations of $630.10 million. Dropbox had a negative return on equity of 161.78% and a net margin of 23.06%. The company’s revenue was up 1.9% compared to the same quarter last year. During the same quarter last year, the business earned $0.28 earnings per share. As a group, equities research analysts expect that Dropbox, Inc. will post 1.31 earnings per share for the current year.

Insider Activity at Dropbox

In other news, CEO Andrew Houston sold 82,000 shares of the business’s stock in a transaction on Monday, July 1st. The shares were sold at an average price of $22.40, for a total value of $1,836,800.00. Following the completion of the transaction, the chief executive officer now owns 8,266,666 shares of the company’s stock, valued at approximately $185,173,318.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, CEO Andrew Houston sold 82,000 shares of the business’s stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $22.40, for a total value of $1,836,800.00. Following the completion of the transaction, the chief executive officer now directly owns 8,266,666 shares in the company, valued at approximately $185,173,318.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Bart Volkmer sold 7,000 shares of the firm’s stock in a transaction that occurred on Monday, July 15th. The stock was sold at an average price of $22.76, for a total transaction of $159,320.00. Following the sale, the insider now owns 333,934 shares in the company, valued at $7,600,337.84. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 105,000 shares of company stock worth $2,354,690. 26.40% of the stock is currently owned by company insiders.

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.