Vanguard Personalized Indexing Management LLC Grows Stock Position in Dropbox, Inc. $DBX

Vanguard Personalized Indexing Management LLC grew its position in Dropbox, Inc. (NASDAQ:DBX) by 4.8% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 43,813 shares of the company’s stock after acquiring an additional 2,025 shares during the quarter. Vanguard Personalized Indexing Management LLC’s holdings in Dropbox were worth $1,253,000 as of its most recent SEC filing.

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

Insider Activity at Dropbox

In other Dropbox news, CAO Sarah Elizabeth Schubach sold 1,066 shares of the firm’s stock in a transaction on Wednesday, October 15th. The stock was sold at an average price of $28.62, for a total transaction of $30,508.92. Following the completion of the sale, the chief accounting officer owned 104,657 shares of the company’s stock, valued at $2,995,283.34. This trade represents a 1.01% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Andrew Houston sold 101,167 shares of the firm’s stock in a transaction on Wednesday, October 1st. The stock was sold at an average price of $29.64, for a total value of $2,998,589.88. The disclosure for this sale can be found here. Insiders have sold 318,632 shares of company stock valued at $9,248,234 over the last 90 days. Corporate insiders own 29.95% of the company’s stock.

Dropbox Stock Up 2.5%

DBX stock opened at $29.10 on Friday. The business has a fifty day moving average of $29.49 and a two-hundred day moving average of $28.49. The stock has a market cap of $7.85 billion, a price-to-earnings 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.

Dropbox (NASDAQ:DBX) last posted 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. The company had revenue of $625.70 million during the quarter, compared to analysts’ expectations of $618.60 million. Dropbox had a negative return on equity of 61.31% and a net margin of 19.17%.The firm’s quarterly revenue was down 1.4% compared to the same quarter last year. During the same quarter last year, the firm earned $0.60 earnings per share. As a group, sell-side analysts anticipate that Dropbox, Inc. will post 1.64 EPS for the current year.

Wall Street Analyst Weigh In

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

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.