Dropbox, Inc. (NASDAQ:DBX) Stock Position Raised by Cwm LLC

Cwm LLC boosted its holdings in Dropbox, Inc. (NASDAQ:DBX) by 39.3% during the third quarter, HoldingsChannel.com reports. The fund owned 68,576 shares of the company’s stock after acquiring an additional 19,353 shares during the period. Cwm LLC’s holdings in Dropbox were worth $1,744,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Sound Income Strategies LLC acquired a new stake in shares of Dropbox during the 1st quarter worth approximately $28,000. GAMMA Investing LLC grew its position in shares of Dropbox by 274.0% during the second quarter. GAMMA Investing LLC now owns 1,238 shares of the company’s stock worth $28,000 after acquiring an additional 907 shares during the last quarter. Fifth Third Bancorp increased its holdings in shares of 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 acquiring an additional 1,169 shares during the period. Quarry LP boosted its stake in Dropbox by 81.1% during the 2nd quarter. Quarry LP now owns 1,965 shares of the company’s stock valued at $44,000 after purchasing an additional 880 shares during the period. Finally, EntryPoint Capital LLC bought a new position in Dropbox in the 1st quarter worth about $65,000. 94.84% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, CEO Andrew Houston sold 351,306 shares of the stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $25.12, for a total transaction of $8,824,806.72. Following the completion of the sale, the chief executive officer now owns 8,266,666 shares in the company, valued at approximately $207,658,649.92. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Dropbox news, CEO Andrew Houston sold 351,306 shares of the company’s stock in a transaction dated 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 sale, the chief executive officer now directly owns 8,266,666 shares of the company’s stock, valued at approximately $207,658,649.92. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Timothy Regan sold 2,500 shares of Dropbox stock in a transaction that occurred 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 completion of the transaction, the chief financial officer now directly owns 485,724 shares in the company, valued at approximately $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. Over the last 90 days, insiders have sold 454,952 shares of company stock worth $11,414,612. 26.40% of the stock is owned by insiders.

Wall Street Analyst Weigh In

DBX has been the topic of a number of recent analyst reports. UBS Group cut their price target on Dropbox from $30.00 to $28.00 and set a “buy” rating on the stock in a report on Friday, August 9th. Citigroup reduced their price target on Dropbox from $26.00 to $25.00 and set a “neutral” rating for the company in a research report on Wednesday, June 26th. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $28.67.

Dropbox Stock Performance

DBX opened at $26.27 on Wednesday. The stock’s fifty day moving average is $24.32 and its 200-day moving average is $23.37. Dropbox, Inc. has a one year low of $20.68 and a one year high of $33.43. The company has a market capitalization of $8.67 billion, a PE ratio of 17.40, a P/E/G ratio of 1.61 and a beta of 0.61.

Dropbox (NASDAQ:DBX) last issued its quarterly earnings results on Thursday, August 8th. The company reported $0.60 earnings per share for the quarter, beating analysts’ consensus estimates 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 the consensus estimate of $630.10 million. During the same period in the prior year, the company earned $0.28 EPS. Dropbox’s revenue was up 1.9% on a year-over-year basis. On average, equities research analysts forecast that Dropbox, Inc. will post 1.31 EPS for the current fiscal year.

About Dropbox

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.