Intech Investment Management LLC Has $2.18 Million Stock Holdings in Dropbox, Inc. (NASDAQ:DBX)

Intech Investment Management LLC raised its stake in shares of Dropbox, Inc. (NASDAQ:DBX) by 24.3% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 97,137 shares of the company’s stock after purchasing an additional 18,960 shares during the quarter. Intech Investment Management LLC’s holdings in Dropbox were worth $2,183,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of DBX. Principal Securities Inc. bought a new stake in Dropbox in the fourth quarter valued at $34,000. Sound Income Strategies LLC bought a new stake in shares of Dropbox in the 1st quarter worth about $28,000. GAMMA Investing LLC increased its position in shares of Dropbox by 274.0% during 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 in 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 valued at $31,000 after purchasing an additional 1,169 shares during the last quarter. Finally, Quarry LP acquired a new position in Dropbox in the fourth quarter valued at about $64,000. 94.84% of the stock is owned by institutional investors and hedge funds.

Dropbox Price Performance

DBX stock opened at $24.79 on Tuesday. The stock has a market capitalization of $8.19 billion, a PE ratio of 16.42, a price-to-earnings-growth ratio of 1.51 and a beta of 0.61. The company has a 50 day moving average price of $23.62 and a 200 day moving average price of $23.23. Dropbox, Inc. has a fifty-two week low of $20.68 and a fifty-two week high of $33.43.

Dropbox (NASDAQ:DBX) last issued its quarterly 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. The business had revenue of $634.50 million for the quarter, compared to analyst estimates of $630.10 million. Dropbox had a negative return on equity of 161.78% and a net margin of 23.06%. The firm’s revenue for the quarter was up 1.9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.28 earnings per share. As a group, equities analysts expect that Dropbox, Inc. will post 1.31 earnings per share for the current fiscal year.

Insider Transactions at Dropbox

In related news, CEO Andrew Houston sold 82,000 shares of the stock in a transaction that occurred 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 transaction, the chief executive officer now directly owns 8,266,666 shares in the company, valued at $185,173,318.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, CFO Timothy Regan sold 13,000 shares of the business’s stock in a transaction that occurred 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 completion of the transaction, the chief financial officer now owns 538,122 shares in the company, valued at $12,016,264.26. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Andrew Houston sold 82,000 shares of the company’s stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $22.40, for a total transaction of $1,836,800.00. Following the completion of the sale, the chief executive officer now directly 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 a total of 114,570 shares of company stock worth $2,592,315 in the last quarter. 26.40% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

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

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.