UMB Bank n.a. Buys 1,686 Shares of Dropbox, Inc. (NASDAQ:DBX)

UMB Bank n.a. boosted its stake in Dropbox, Inc. (NASDAQ:DBX) by 2,479.4% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,754 shares of the company’s stock after purchasing an additional 1,686 shares during the period. UMB Bank n.a.’s holdings in Dropbox were worth $45,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Sound Income Strategies LLC bought a new stake in shares of Dropbox during the 1st quarter valued at $28,000. GAMMA Investing LLC grew 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 valued at $28,000 after acquiring an additional 907 shares during the period. Fifth Third Bancorp boosted its holdings in Dropbox by 548.8% in 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 during the period. Quarry LP boosted its holdings in Dropbox by 81.1% in the 2nd quarter. Quarry LP now owns 1,965 shares of the company’s stock worth $44,000 after buying an additional 880 shares during the period. Finally, EntryPoint Capital LLC bought a new position in Dropbox in the 1st quarter worth $65,000. Institutional investors own 94.84% of the company’s stock.

Dropbox Stock Up 0.2 %

Shares of DBX stock opened at $25.94 on Tuesday. The stock has a market cap of $8.57 billion, a P/E ratio of 17.18, a PEG ratio of 1.61 and a beta of 0.61. Dropbox, Inc. has a 52 week low of $20.68 and a 52 week high of $33.43. The company’s fifty day simple moving average is $24.13 and its two-hundred day simple moving average is $23.34.

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. The firm had revenue of $634.50 million for the quarter, compared to analysts’ expectations of $630.10 million. Dropbox had a net margin of 23.06% and a negative return on equity of 161.78%. The business’s revenue was up 1.9% compared to the same quarter last year. During the same period in the prior year, the company earned $0.28 EPS. On average, analysts anticipate that Dropbox, Inc. will post 1.31 EPS for the current fiscal year.

Insider Activity

In other news, CFO Timothy Regan sold 2,500 shares of the company’s stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $24.35, for a total transaction of $60,875.00. Following the sale, the chief financial officer now directly owns 485,724 shares in the company, valued at approximately $11,827,379.40. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CEO Andrew Houston sold 66,064 shares of the stock in a transaction dated Tuesday, September 24th. The shares were sold at an average price of $25.00, for a total value of $1,651,600.00. Following the sale, the chief executive officer now directly owns 8,266,666 shares of the company’s stock, valued at $206,666,650. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Timothy Regan sold 2,500 shares of the stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $24.35, for a total transaction of $60,875.00. Following the completion of the sale, the chief financial officer now directly owns 485,724 shares in the company, valued at $11,827,379.40. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 454,952 shares of company stock worth $11,414,612. 26.40% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several brokerages recently weighed in on DBX. UBS Group dropped their target price on shares of Dropbox from $30.00 to $28.00 and set a “buy” rating for the company in a 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 for the company in a report on Wednesday, June 26th. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the company. According to MarketBeat, Dropbox presently has an average rating of “Hold” and an average price target 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.