TD Asset Management Inc Buys 3,866 Shares of Dropbox, Inc. (NASDAQ:DBX)

TD Asset Management Inc increased its stake in Dropbox, Inc. (NASDAQ:DBX) by 17.9% during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 25,500 shares of the company’s stock after buying an additional 3,866 shares during the period. TD Asset Management Inc’s holdings in Dropbox were worth $573,000 as of its most recent filing with the Securities & Exchange Commission.

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

Insider Transactions at Dropbox

In related news, CEO Andrew Houston sold 82,000 shares of Dropbox stock in a transaction on Monday, July 1st. The stock was sold at an average price of $22.40, for a total transaction of $1,836,800.00. Following the transaction, the chief executive officer now directly owns 8,266,666 shares in the company, valued at $185,173,318.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, CFO Timothy Regan sold 13,000 shares of Dropbox stock in a transaction on Monday, July 1st. The shares were sold at an average price of $22.33, for a total transaction of $290,290.00. Following the transaction, the chief financial officer now owns 538,122 shares in the company, valued at approximately $12,016,264.26. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Andrew Houston sold 82,000 shares of the stock in a transaction 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 sale, the chief executive officer now owns 8,266,666 shares of the company’s stock, valued at approximately $185,173,318.40. The disclosure for this sale can be found here. Insiders sold 105,000 shares of company stock worth $2,354,690 in the last three months. Corporate insiders own 26.40% of the company’s stock.

Dropbox Stock Up 1.3 %

Dropbox stock opened at $24.59 on Monday. Dropbox, Inc. has a 52-week low of $20.68 and a 52-week high of $33.43. The company has a market cap 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. The business has a 50-day simple moving average of $23.34 and a two-hundred day simple moving average of $23.20.

Dropbox (NASDAQ:DBX) last announced its earnings results on Thursday, August 8th. The company reported $0.60 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.52 by $0.08. Dropbox had a net margin of 23.06% and a negative return on equity of 161.78%. The company had revenue of $634.50 million during the quarter, compared to analyst estimates of $630.10 million. During the same period in the previous year, the business posted $0.28 earnings per share. The firm’s quarterly revenue was up 1.9% compared to the same quarter last year. Research analysts anticipate that Dropbox, Inc. will post 1.31 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts recently commented on the company. UBS Group dropped their price objective on Dropbox from $30.00 to $28.00 and set a “buy” rating on the stock in a research report on Friday, August 9th. Citigroup reduced their price target on shares of Dropbox from $26.00 to $25.00 and set a “neutral” rating for the company in a research note on Wednesday, June 26th. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $28.67.

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.