Dropbox, Inc. $DBX Shares Sold by Applied Finance Capital Management LLC

Applied Finance Capital Management LLC reduced its position in Dropbox, Inc. (NASDAQ:DBX) by 13.3% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 7,019 shares of the company’s stock after selling 1,077 shares during the period. Applied Finance Capital Management LLC’s holdings in Dropbox were worth $201,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in DBX. Elequin Capital LP lifted its holdings in shares of Dropbox by 71.0% in the 1st quarter. Elequin Capital LP now owns 1,130 shares of the company’s stock valued at $30,000 after purchasing an additional 469 shares during the last quarter. Brooklyn Investment Group lifted its holdings in shares of Dropbox by 250.3% in the 1st quarter. Brooklyn Investment Group now owns 1,387 shares of the company’s stock valued at $37,000 after purchasing an additional 991 shares during the last quarter. SBI Securities Co. Ltd. lifted its holdings in shares of Dropbox by 33.4% in the 1st quarter. SBI Securities Co. Ltd. now owns 1,794 shares of the company’s stock valued at $48,000 after purchasing an additional 449 shares during the last quarter. Fifth Third Bancorp lifted its holdings in shares of Dropbox by 27.3% in the 1st quarter. Fifth Third Bancorp now owns 2,288 shares of the company’s stock valued at $61,000 after purchasing an additional 490 shares during the last quarter. Finally, UMB Bank n.a. lifted its holdings in shares of Dropbox by 29.7% in the 2nd quarter. UMB Bank n.a. now owns 3,243 shares of the company’s stock valued at $93,000 after purchasing an additional 742 shares during the last quarter. 94.84% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on DBX shares. UBS Group downgraded Dropbox from a “neutral” rating to a “sell” rating and reduced their target price for the company from $29.00 to $27.00 in a report on Thursday, September 18th. Wall Street Zen upgraded Dropbox from a “hold” rating to a “buy” rating in a research report on Saturday. Finally, Weiss Ratings restated a “hold (c+)” rating on shares of Dropbox in a research report on Wednesday, October 8th. Three equities research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of “Reduce” and an average price target of $29.67.

Dropbox Stock Up 2.5%

Shares of DBX stock opened at $29.10 on Friday. The stock has a market capitalization of $7.85 billion, a PE ratio of 17.74, a price-to-earnings-growth ratio of 3.83 and a beta of 0.67. Dropbox, Inc. has a 52-week low of $24.42 and a 52-week high of $33.33. The stock’s 50-day moving average price is $29.49 and its 200 day moving average price is $28.49.

Dropbox (NASDAQ:DBX) last released its earnings results on Thursday, August 7th. The company reported $0.71 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.63 by $0.08. Dropbox had a negative return on equity of 61.31% and a net margin of 19.17%.The company had revenue of $625.70 million for the quarter, compared to analysts’ expectations of $618.60 million. During the same quarter in the previous year, the firm posted $0.60 EPS. The firm’s quarterly revenue was down 1.4% on a year-over-year basis. Analysts expect that Dropbox, Inc. will post 1.64 earnings per share for the current fiscal year.

Insider Activity at Dropbox

In other Dropbox news, insider William T. Yoon sold 11,430 shares of the business’s stock in a transaction that occurred on Monday, September 8th. The stock was sold at an average price of $30.16, for a total transaction of $344,728.80. Following the transaction, the insider owned 223,662 shares in the company, valued at approximately $6,745,645.92. The trade was a 4.86% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CTO Ali Dasdan sold 12,812 shares of the business’s stock in a transaction that occurred on Monday, September 8th. The stock was sold at an average price of $30.00, for a total value of $384,360.00. Following the sale, the chief technology officer directly owned 551,060 shares in the company, valued at $16,531,800. This trade represents a 2.27% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 318,632 shares of company stock worth $9,248,234 in the last three months. 29.95% of the stock is currently owned by corporate insiders.

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.