Algert Global LLC Purchases New Holdings in Dropbox, Inc. (NASDAQ:DBX)

Algert Global LLC acquired a new stake in shares of Dropbox, Inc. (NASDAQ:DBX) in the second quarter, according to the company in its most recent 13F filing with the SEC. The fund acquired 71,052 shares of the company’s stock, valued at approximately $1,597,000.

Several other hedge funds also recently bought and sold shares of DBX. California State Teachers Retirement System increased its position in Dropbox by 1.0% during the 4th quarter. California State Teachers Retirement System now owns 405,039 shares of the company’s stock valued at $11,941,000 after purchasing an additional 3,879 shares during the period. Crossmark Global Holdings Inc. grew its position in Dropbox by 9.6% during the 4th quarter. Crossmark Global Holdings Inc. now owns 141,331 shares of the company’s stock worth $4,166,000 after purchasing an additional 12,335 shares during the last quarter. Prudential PLC lifted its stake in shares of Dropbox by 7.7% during the fourth quarter. Prudential PLC now owns 22,043 shares of the company’s stock worth $650,000 after buying an additional 1,584 shares during the period. Caxton Associates LP lifted its position in Dropbox by 656.4% during the 4th quarter. Caxton Associates LP now owns 63,205 shares of the company’s stock worth $1,863,000 after acquiring an additional 54,849 shares during the period. Finally, Quarry LP purchased a new stake in Dropbox during the 4th quarter valued at about $64,000. Institutional investors own 94.84% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Insider Activity at Dropbox

In related news, CFO Timothy Regan sold 2,500 shares of the company’s stock in a transaction that occurred on Friday, September 13th. The stock was sold at an average price of $24.35, for a total value of $60,875.00. Following the sale, the chief financial officer now owns 485,724 shares in the company, valued at approximately $11,827,379.40. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, CFO Timothy Regan sold 2,500 shares of the firm’s stock in a transaction on Friday, September 13th. The stock was sold at an average price of $24.35, for a total transaction of $60,875.00. Following the sale, the chief financial officer now owns 485,724 shares in the company, valued at $11,827,379.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Andrew Houston sold 351,306 shares of Dropbox stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $25.12, for a total transaction of $8,824,806.72. Following the completion of the transaction, the chief executive officer now owns 8,266,666 shares in the company, valued at approximately $207,658,649.92. The disclosure for this sale can be found here. Insiders sold a total of 464,952 shares of company stock worth $11,642,212 over the last 90 days. Company insiders own 26.40% of the company’s stock.

Dropbox Price Performance

DBX opened at $25.53 on Friday. The business has a fifty day moving average price of $23.90 and a 200 day moving average price of $23.31. Dropbox, Inc. has a 12 month low of $20.68 and a 12 month high of $33.43. The stock has a market capitalization of $8.43 billion, a price-to-earnings ratio of 16.91, a PEG ratio of 1.55 and a beta of 0.61.

Dropbox (NASDAQ:DBX) last posted its earnings results on Thursday, August 8th. The company reported $0.60 earnings per share for the quarter, beating the consensus estimate 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 negative return on equity of 161.78% and a net margin of 23.06%. The business’s quarterly revenue was up 1.9% on a year-over-year basis. During the same period in the previous year, the business earned $0.28 EPS. On average, research analysts anticipate that Dropbox, Inc. will post 1.31 earnings per share for the current 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.