CWM LLC grew its holdings in shares of Dropbox, Inc. (NASDAQ:DBX - Free Report) by 137.6% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 49,223 shares of the company's stock after acquiring an additional 28,505 shares during the period. CWM LLC's holdings in Dropbox were worth $1,106,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also modified their holdings of DBX. GAMMA Investing LLC bought a new stake in shares of Dropbox in the 4th quarter valued at approximately $25,000. Sound Income Strategies LLC bought a new stake in Dropbox during the first quarter valued at $28,000. Principal Securities Inc. acquired a new stake in shares of Dropbox during the fourth quarter worth $34,000. Avalon Trust Co bought a new position in shares of Dropbox in the 4th quarter worth about $39,000. Finally, Quarry LP acquired a new position in shares of Dropbox in the 4th quarter valued at about $64,000. 94.84% of the stock is owned by hedge funds and other institutional investors.
Dropbox Stock Performance
Shares of DBX traded up $0.71 during mid-day trading on Friday, reaching $22.44. 6,010,756 shares of the company's stock traded hands, compared to its average volume of 4,035,235. 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 $7.41 billion, a P/E ratio of 14.86, a price-to-earnings-growth ratio of 1.61 and a beta of 0.65. The business's 50-day moving average price is $22.33 and its 200-day moving average price is $24.31.
Dropbox (NASDAQ:DBX - Get Free Report) last announced its earnings results on Thursday, May 9th. The company reported $0.41 earnings per share for the quarter, beating the consensus estimate of $0.28 by $0.13. Dropbox had a negative return on equity of 148.13% and a net margin of 20.50%. The firm had revenue of $631.30 million for the quarter, compared to the consensus estimate of $628.81 million. Equities research analysts anticipate that Dropbox, Inc. will post 1.26 EPS for the current year.
Wall Street Analysts Forecast Growth
Several research firms recently weighed in on DBX. Citigroup dropped their price objective on shares of Dropbox from $26.00 to $25.00 and set a "neutral" rating on the stock in a research note on Wednesday, June 26th. UBS Group dropped their price target on Dropbox from $30.00 to $28.00 and set a "buy" rating on the stock in a research report on Friday. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, Dropbox currently has a consensus rating of "Hold" and a consensus target price of $29.14.
View Our Latest Stock Analysis on DBX
Insider Activity
In related news, Director Karen Peaco*ck sold 10,000 shares of the company's stock in a transaction dated Wednesday, May 29th. The shares were sold at an average price of $23.02, for a total value of $230,200.00. Following the completion of the sale, the director now owns 23,852 shares of the company's stock, valued at $549,073.04. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CFO Timothy Regan sold 3,000 shares of the stock in a transaction that occurred on Monday, July 15th. The shares were sold at an average price of $22.76, for a total value of $68,280.00. Following the completion of the transaction, the chief financial officer now directly owns 535,122 shares in the company, valued at $12,179,376.72. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Karen Peaco*ck sold 10,000 shares of the firm's stock in a transaction that occurred on Wednesday, May 29th. The shares were sold at an average price of $23.02, for a total transaction of $230,200.00. Following the transaction, the director now owns 23,852 shares in the company, valued at approximately $549,073.04. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 208,536 shares of company stock valued at $4,672,611. Company insiders own 26.40% of the company's stock.
Dropbox Company Profile
(Free Report)
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.
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