Skandinaviska Enskilda Banken AB publ Lowers Position in Dropbox, Inc. (NASDAQ:DBX)

Skandinaviska Enskilda Banken AB publ decreased its position in shares of Dropbox, Inc. (NASDAQ:DBX) by 67.7% during the second quarter, according to its most recent filing with the SEC. The firm owned 168,972 shares of the company’s stock after selling 353,708 shares during the period. Skandinaviska Enskilda Banken AB publ owned about 0.05% of Dropbox worth $3,796,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Dimensional Fund Advisors LP boosted its stake in Dropbox by 63.7% during the second quarter. Dimensional Fund Advisors LP now owns 2,536,412 shares of the company’s stock worth $56,994,000 after acquiring an additional 986,942 shares in the last quarter. Russell Investments Group Ltd. increased its position in Dropbox by 68.2% during the 1st quarter. Russell Investments Group Ltd. now owns 1,949,274 shares of the company’s stock valued at $47,397,000 after buying an additional 790,191 shares in the last quarter. Norges Bank purchased a new position in Dropbox during the fourth quarter valued at $19,361,000. Bank of Nova Scotia boosted its holdings in Dropbox by 7,701.9% in the fourth quarter. Bank of Nova Scotia now owns 618,456 shares of the company’s stock worth $18,231,000 after acquiring an additional 610,529 shares in the last quarter. Finally, Acadian Asset Management LLC grew its stake in shares of Dropbox by 18.7% in the first quarter. Acadian Asset Management LLC now owns 3,279,401 shares of the company’s stock worth $79,664,000 after acquiring an additional 517,052 shares during the last quarter. Institutional investors own 94.84% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on DBX. UBS Group lowered their price target on Dropbox from $30.00 to $28.00 and set a “buy” rating for the company in a research report on Friday, August 9th. Citigroup dropped their target price on shares of Dropbox from $26.00 to $25.00 and set a “neutral” rating on the stock in a research note on Wednesday, June 26th. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $28.67.

Insiders Place Their Bets

In other news, CFO Timothy Regan sold 13,000 shares of the stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $22.33, for a total value 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other Dropbox news, CEO Andrew Houston sold 82,000 shares of the firm’s stock in a transaction dated 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 sale, the chief executive officer now directly owns 8,266,666 shares of the company’s stock, valued at $185,173,318.40. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Timothy Regan sold 13,000 shares of the company’s stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $22.33, for a total value of $290,290.00. Following the completion of the transaction, the chief financial officer now directly owns 538,122 shares of the company’s stock, valued at approximately $12,016,264.26. The disclosure for this sale can be found here. Over the last three months, insiders have sold 107,900 shares of company stock valued at $2,425,565. Insiders own 26.40% of the company’s stock.

Dropbox Stock Up 0.9 %

Shares of NASDAQ DBX opened at $24.70 on Monday. The firm’s 50-day moving average price is $23.58 and its 200-day moving average price is $23.22. 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 $8.16 billion, a PE ratio of 16.36, a PEG ratio of 1.51 and a beta of 0.61.

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

Dropbox Company 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.