Capital Fund Management S.A. bought a new position in shares of Dropbox Inc (NASDAQ:DBX) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 9,613 shares of the company’s stock, valued at approximately $241,000.
Several other hedge funds have also made changes to their positions in DBX. Tortoise Index Solutions LLC bought a new position in Dropbox in the first quarter valued at about $29,000. Meridian Wealth Management LLC acquired a new position in Dropbox in the second quarter valued at about $34,000. Livforsakringsbolaget Skandia Omsesidigt acquired a new position in Dropbox in the second quarter valued at about $55,000. Steward Partners Investment Advisory LLC acquired a new position in Dropbox in the second quarter valued at about $58,000. Finally, LS Investment Advisors LLC acquired a new position in Dropbox in the second quarter valued at about $87,000. Institutional investors own 40.40% of the company’s stock.
DBX has been the topic of several analyst reports. TheStreet lowered Dropbox from a “c-” rating to a “d+” rating in a research note on Friday, August 9th. Nomura dropped their price target on Dropbox from $25.00 to $24.00 and set a “neutral” rating on the stock in a research report on Friday, August 9th. William Blair dropped coverage on Dropbox in a research report on Friday, August 9th. Bank of America dropped coverage on Dropbox in a research report on Friday, August 9th. Finally, DA Davidson dropped coverage on Dropbox in a research report on Friday, August 9th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and five have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $28.13.
DBX stock traded up $0.04 during mid-day trading on Friday, reaching $20.06. The company had a trading volume of 3,991,890 shares, compared to its average volume of 3,027,774. The company has a debt-to-equity ratio of 0.99, a current ratio of 1.18 and a quick ratio of 1.18. The stock has a 50 day simple moving average of $19.74 and a two-hundred day simple moving average of $22.43. The company has a market capitalization of $8.40 billion, a price-to-earnings ratio of -15.31 and a beta of 1.53. Dropbox Inc has a 52 week low of $17.20 and a 52 week high of $27.35.
Dropbox (NASDAQ:DBX) last posted its quarterly earnings results on Thursday, August 8th. The company reported $0.10 earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.05) by $0.15. The firm had revenue of $401.50 million during the quarter, compared to the consensus estimate of $401.09 million. Dropbox had a negative return on equity of 6.57% and a negative net margin of 2.91%. The business’s revenue was up 18.4% compared to the same quarter last year. During the same period last year, the company earned $0.11 earnings per share. On average, equities analysts predict that Dropbox Inc will post -0.11 EPS for the current year.
In related news, Director Condoleezza Rice sold 23,943 shares of the business’s stock in a transaction on Monday, August 12th. The stock was sold at an average price of $18.38, for a total value of $440,072.34. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Ajay Vashee sold 13,731 shares of the business’s stock in a transaction on Monday, June 24th. The shares were sold at an average price of $25.00, for a total value of $343,275.00. The disclosure for this sale can be found here. Insiders have sold a total of 85,472 shares of company stock valued at $1,915,604 over the last quarter. 31.20% of the stock is currently owned by corporate insiders.
Dropbox, Inc provides a collaboration platform worldwide. Its platform allows individuals, 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. The company has approximately 500 million registered users across 180 countries.
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