Perbak Capital Partners LLP Has $1.21 Million Stake in Dropbox, Inc. $DBX

Perbak Capital Partners LLP grew its stake in shares of Dropbox, Inc. (NASDAQ:DBX) by 140.8% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 40,086 shares of the company’s stock after buying an additional 23,436 shares during the period. Perbak Capital Partners LLP’s holdings in Dropbox were worth $1,211,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently modified their holdings of the company. Empowered Funds LLC raised its position in shares of Dropbox by 7.3% in the 1st quarter. Empowered Funds LLC now owns 38,795 shares of the company’s stock valued at $1,036,000 after acquiring an additional 2,655 shares during the period. Envestnet Asset Management Inc. boosted its stake in Dropbox by 17.2% during the 2nd quarter. Envestnet Asset Management Inc. now owns 128,398 shares of the company’s stock worth $3,672,000 after acquiring an additional 18,849 shares during the last quarter. Savant Capital LLC acquired a new position in Dropbox during the second quarter valued at approximately $209,000. Aviva PLC acquired a new position in Dropbox during the second quarter valued at approximately $531,000. Finally, Mitsubishi UFJ Trust & Banking Corp increased its stake in Dropbox by 29.7% in the second quarter. Mitsubishi UFJ Trust & Banking Corp now owns 1,114,744 shares of the company’s stock valued at $31,882,000 after purchasing an additional 255,266 shares in the last quarter. 94.84% of the stock is currently owned by institutional investors and hedge funds.

Dropbox Stock Performance

Shares of DBX stock opened at $25.75 on Friday. The company has a market capitalization of $6.21 billion, a P/E ratio of 13.84, a price-to-earnings-growth ratio of 1.83 and a beta of 0.63. The company’s 50 day moving average price is $25.74 and its two-hundred day moving average price is $28.14. Dropbox, Inc. has a 52 week low of $23.63 and a 52 week high of $32.40.

Dropbox (NASDAQ:DBX) last announced its quarterly earnings results on Thursday, February 19th. The company reported $0.68 earnings per share for the quarter, beating analysts’ consensus estimates of $0.66 by $0.02. The firm had revenue of $636.20 million for the quarter, compared to analyst estimates of $627.83 million. Dropbox had a net margin of 20.17% and a negative return on equity of 37.47%. The business’s revenue was down 1.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.73 earnings per share. Analysts forecast that Dropbox, Inc. will post 1.64 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on DBX. Wall Street Zen lowered shares of Dropbox from a “buy” rating to a “hold” rating in a report on Friday, January 23rd. JPMorgan Chase & Co. decreased their price target 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. Weiss Ratings restated a “hold (c+)” rating on shares of Dropbox in a research report on Wednesday, January 21st. UBS Group dropped their price objective on Dropbox from $27.00 to $23.00 and set a “sell” rating on the stock in a research note on Friday, February 20th. Finally, Royal Bank Of Canada reduced their target price on Dropbox from $35.00 to $30.00 and set an “outperform” rating on the stock in a report on Friday, February 20th. One equities research analyst has rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $27.50.

Insider Activity at Dropbox

In other Dropbox news, CTO Ali Dasdan sold 7,306 shares of Dropbox stock in a transaction dated Thursday, February 26th. The stock was sold at an average price of $24.89, for a total value of $181,846.34. Following the sale, the chief technology officer owned 499,379 shares of the company’s stock, valued at $12,429,543.31. This trade represents a 1.44% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Ashraf Alkarmi sold 12,472 shares of the business’s stock in a transaction dated Tuesday, March 3rd. The shares were sold at an average price of $26.00, for a total value of $324,272.00. Following the completion of the sale, the insider owned 414,661 shares in the company, valued at approximately $10,781,186. This trade represents a 2.92% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 451,613 shares of company stock valued at $11,737,127. 29.95% of the stock is owned by insiders.

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.