Fox Run Management L.L.C. Invests $1.09 Million in Dropbox, Inc. $DBX

Fox Run Management L.L.C. purchased a new position in shares of Dropbox, Inc. (NASDAQ:DBX) in the fourth quarter, Holdings Channel.com reports. The institutional investor purchased 39,279 shares of the company’s stock, valued at approximately $1,092,000.

A number of other hedge funds have also made changes to their positions in DBX. Empowered Funds LLC grew its position in shares of Dropbox by 7.3% during the first quarter. Empowered Funds LLC now owns 38,795 shares of the company’s stock worth $1,036,000 after buying an additional 2,655 shares in the last quarter. Cetera Investment Advisers grew its position in shares of Dropbox by 10.8% during the second quarter. Cetera Investment Advisers now owns 24,623 shares of the company’s stock worth $704,000 after buying an additional 2,405 shares in the last quarter. EverSource Wealth Advisors LLC grew its position in shares of Dropbox by 88.0% during the second quarter. EverSource Wealth Advisors LLC now owns 1,681 shares of the company’s stock worth $48,000 after buying an additional 787 shares in the last quarter. Cresset Asset Management LLC grew its position in shares of Dropbox by 75.8% during the second quarter. Cresset Asset Management LLC now owns 15,230 shares of the company’s stock worth $436,000 after buying an additional 6,569 shares in the last quarter. Finally, Federated Hermes Inc. grew its position in shares of Dropbox by 360.9% during the second quarter. Federated Hermes Inc. now owns 117,852 shares of the company’s stock worth $3,371,000 after buying an additional 92,280 shares in the last quarter. Institutional investors and hedge funds own 94.84% of the company’s stock.

Insider Activity at Dropbox

In other news, insider William T. Yoon sold 7,230 shares of the business’s stock in a transaction on Monday, May 18th. The shares were sold at an average price of $27.57, for a total transaction of $199,331.10. Following the completion of the transaction, the insider owned 366,963 shares of the company’s stock, valued at approximately $10,117,169.91. The trade was a 1.93% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Andrew Houston sold 111,166 shares of the business’s stock in a transaction on Wednesday, April 1st. The shares were sold at an average price of $22.89, for a total transaction of $2,544,589.74. Following the transaction, the chief executive officer directly owned 8,266,666 shares of the company’s stock, valued at approximately $189,223,984.74. This trade represents a 1.33% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders have sold 239,883 shares of company stock valued at $6,006,972. Company insiders own 35.48% of the company’s stock.

Dropbox Stock Performance

Shares of DBX opened at $27.43 on Wednesday. Dropbox, Inc. has a 1 year low of $21.69 and a 1 year high of $32.40. The company has a market cap of $6.40 billion, a price-to-earnings ratio of 14.99, a price-to-earnings-growth ratio of 2.99 and a beta of 0.67. The firm has a fifty day moving average of $25.31 and a 200-day moving average of $26.14.

Dropbox (NASDAQ:DBX) last announced its quarterly earnings results on Thursday, May 7th. The company reported $0.76 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.71 by $0.05. Dropbox had a net margin of 18.71% and a negative return on equity of 30.01%. The company had revenue of $629.50 million during the quarter, compared to the consensus estimate of $620.56 million. During the same quarter in the previous year, the company posted $0.70 earnings per share. The company’s revenue for the quarter was up .8% compared to the same quarter last year. Analysts predict that Dropbox, Inc. will post 2.09 EPS for the current year.

Analysts Set New Price Targets

DBX has been the subject of a number of research reports. Citigroup lifted their price objective on shares of Dropbox from $27.00 to $28.00 and gave the stock a “neutral” rating in a report on Monday, May 11th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Dropbox in a report on Monday, May 4th. Royal Bank Of Canada reaffirmed an “outperform” rating on shares of Dropbox in a report on Monday, June 1st. UBS Group decreased their price objective on shares of Dropbox from $27.00 to $23.00 and set a “sell” rating for the company in a report on Friday, February 20th. Finally, JPMorgan Chase & Co. decreased their price objective on shares of Dropbox from $29.00 to $25.00 and set a “neutral” rating for the company in a report on Friday, February 20th. One investment analyst has rated the stock with a Buy rating, three have given a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, Dropbox presently has an average rating of “Reduce” and an average price target of $27.00.

Dropbox Company Profile

Dropbox, Inc (NASDAQ: DBX) is a leading provider of cloud-based file storage, collaboration, and productivity tools. Founded in 2007 and headquartered in San Francisco, California, the company offers a suite of services designed to help individuals and organizations securely store, share, and manage digital content. Dropbox has grown from a simple file-syncing application into an integrated collaboration platform used by millions of customers around the globe.

At its core, Dropbox provides cloud storage plans tailored for consumers and businesses.