Ceera Investments LLC Grows Position in Dropbox, Inc. (NASDAQ:DBX)

Ceera Investments LLC grew its holdings in Dropbox, Inc. (NASDAQ:DBX) by 16.3% during the second quarter, according to the company in its most recent filing with the SEC. The fund owned 212,950 shares of the company’s stock after acquiring an additional 29,867 shares during the quarter. Dropbox comprises 2.0% of Ceera Investments LLC’s investment portfolio, making the stock its 15th biggest holding. Ceera Investments LLC owned about 0.06% of Dropbox worth $4,785,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Truist Financial Corp raised its position in Dropbox by 1.8% during the 4th quarter. Truist Financial Corp now owns 42,999 shares of the company’s stock worth $1,268,000 after buying an additional 769 shares during the last quarter. Victory Capital Management Inc. lifted its holdings in shares of Dropbox by 59.8% in the 4th quarter. Victory Capital Management Inc. now owns 187,167 shares of the company’s stock valued at $5,518,000 after buying an additional 70,028 shares during the period. Natixis Advisors L.P. purchased a new stake in shares of Dropbox in the fourth quarter valued at approximately $354,000. Charles Schwab Investment Management Inc. boosted its stake in shares of Dropbox by 3.4% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,990,186 shares of the company’s stock valued at $88,151,000 after buying an additional 98,568 shares in the last quarter. Finally, Principal Securities Inc. acquired a new position in Dropbox during the fourth quarter worth $34,000. Institutional investors and hedge funds own 94.84% of the company’s stock.

Insider Buying and Selling at Dropbox

In related news, CEO Andrew Houston sold 82,000 shares of Dropbox stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $22.40, for a total transaction of $1,836,800.00. Following the completion of the transaction, the chief executive officer now directly owns 8,266,666 shares of the company’s stock, valued at approximately $185,173,318.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Dropbox news, insider Eric Cox sold 8,536 shares of the company’s stock in a transaction that occurred on Monday, June 10th. The stock was sold at an average price of $21.27, for a total transaction of $181,560.72. Following the completion of the transaction, the insider now owns 350,471 shares of the company’s stock, valued at approximately $7,454,518.17. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Andrew Houston sold 82,000 shares of the company’s stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $22.40, for a total value of $1,836,800.00. Following the sale, the chief executive officer now owns 8,266,666 shares in the company, valued at approximately $185,173,318.40. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 113,536 shares of company stock valued at $2,536,251. 26.40% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the stock. Citigroup cut their target price on shares of Dropbox from $26.00 to $25.00 and set a “neutral” rating for the company in a research report on Wednesday, June 26th. UBS Group reduced their price target on Dropbox from $30.00 to $28.00 and set a “buy” rating on the stock in a research note on Friday, August 9th. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and two have given a buy rating to the company. According to MarketBeat.com, Dropbox currently has a consensus rating of “Hold” and a consensus target price of $28.67.

Dropbox Stock Performance

Shares of DBX traded down $0.54 during trading hours on Friday, hitting $23.10. 3,149,331 shares of the company were exchanged, compared to its average volume of 3,949,543. The company has a market cap of $7.63 billion, a PE ratio of 15.30, a PEG ratio of 1.57 and a beta of 0.65. The firm’s 50 day moving average is $23.19 and its 200-day moving average is $23.22. Dropbox, Inc. has a 52 week low of $20.68 and a 52 week high of $33.43.

Dropbox (NASDAQ:DBX) last released its quarterly earnings results on Thursday, August 8th. The company reported $0.60 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.52 by $0.08. The company had revenue of $634.50 million during the quarter, compared to analysts’ expectations of $630.10 million. Dropbox had a net margin of 23.06% and a negative return on equity of 161.78%. The business’s quarterly revenue was up 1.9% compared to the same quarter last year. During the same period in the prior year, the company earned $0.28 earnings per share. As a group, equities analysts forecast that Dropbox, Inc. will post 1.31 earnings per share for the current fiscal year.

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.