Dropbox, Inc. (NASDAQ:DBX) Shares Bought by GAMMA Investing LLC

GAMMA Investing LLC raised its position in Dropbox, Inc. (NASDAQ:DBX) by 12.2% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 7,219 shares of the company’s stock after purchasing an additional 783 shares during the quarter. GAMMA Investing LLC’s holdings in Dropbox were worth $193,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of DBX. LSV Asset Management increased its holdings in Dropbox by 24.0% in the 4th quarter. LSV Asset Management now owns 6,446,121 shares of the company’s stock valued at $193,641,000 after purchasing an additional 1,245,563 shares in the last quarter. Arrowstreet Capital Limited Partnership grew its position in Dropbox by 38.1% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 5,224,864 shares of the company’s stock valued at $156,955,000 after acquiring an additional 1,440,887 shares in the last quarter. AQR Capital Management LLC boosted its stake in shares of Dropbox by 3.0% in the fourth quarter. AQR Capital Management LLC now owns 3,332,516 shares of the company’s stock valued at $99,842,000 after purchasing an additional 97,551 shares during the period. Charles Schwab Investment Management Inc. increased its stake in Dropbox by 4.2% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,914,005 shares of the company’s stock worth $87,537,000 after buying an additional 117,767 shares during the period. Finally, Dimensional Fund Advisors LP boosted its position in Dropbox by 3.2% in the 4th quarter. Dimensional Fund Advisors LP now owns 2,646,502 shares of the company’s stock valued at $79,505,000 after buying an additional 82,284 shares during the last quarter. 94.84% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, CEO Andrew Houston sold 92,000 shares of Dropbox stock in a transaction dated Tuesday, July 1st. The shares were sold at an average price of $27.96, for a total value of $2,572,320.00. Following the sale, the chief executive officer directly owned 8,266,666 shares in the company, valued at $231,135,981.36. This trade represents a 1.10% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Lisa M. Campbell sold 5,239 shares of the firm’s stock in a transaction that occurred on Friday, May 16th. The shares were sold at an average price of $28.94, for a total transaction of $151,616.66. Following the completion of the sale, the director owned 19,220 shares in the company, valued at $556,226.80. The trade was a 21.42% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 466,125 shares of company stock valued at $13,222,405 in the last three months. 29.95% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

DBX has been the subject of a number of analyst reports. UBS Group increased their price target on Dropbox from $30.00 to $31.00 and gave the company a “buy” rating in a report on Friday, May 9th. Citigroup increased their price target on shares of Dropbox from $30.00 to $32.00 and gave the stock a “neutral” rating in a research report on Friday, May 9th.

Dropbox Price Performance

Shares of DBX opened at $27.95 on Friday. The stock has a market capitalization of $7.87 billion, a PE ratio of 18.27, a price-to-earnings-growth ratio of 10.84 and a beta of 0.65. Dropbox, Inc. has a 12-month low of $21.32 and a 12-month high of $33.33. The business’s fifty day moving average price is $28.76 and its 200 day moving average price is $28.80.

Dropbox (NASDAQ:DBX) last issued its earnings results on Thursday, May 8th. The company reported $0.70 EPS for the quarter, beating analysts’ consensus estimates of $0.62 by $0.08. The company had revenue of $624.70 million during the quarter, compared to the consensus estimate of $619.56 million. Dropbox had a negative return on equity of 79.66% and a net margin of 18.50%. Dropbox’s quarterly revenue was down 1.0% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.58 earnings per share. As a group, research analysts anticipate that Dropbox, Inc. will post 1.64 earnings per share for the current fiscal year.

Dropbox 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.