Y Intercept Hong Kong Ltd Purchases New Position in Dropbox, Inc. $DBX

Y Intercept Hong Kong Ltd purchased a new stake in Dropbox, Inc. (NASDAQ:DBX) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 49,101 shares of the company’s stock, valued at approximately $1,404,000.

A number of other large investors have also recently modified their holdings of the company. Acadian Asset Management LLC boosted its holdings in shares of Dropbox by 1.9% in the first quarter. Acadian Asset Management LLC now owns 8,544,978 shares of the company’s stock valued at $228,202,000 after purchasing an additional 157,148 shares during the period. LSV Asset Management lifted its holdings in Dropbox by 18.4% during the first quarter. LSV Asset Management now owns 7,633,516 shares of the company’s stock worth $203,891,000 after buying an additional 1,187,395 shares during the period. Charles Schwab Investment Management Inc. increased its holdings in shares of Dropbox by 1.2% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 2,950,273 shares of the company’s stock valued at $78,802,000 after acquiring an additional 36,268 shares during the period. Caisse DE Depot ET Placement DU Quebec increased its holdings in shares of Dropbox by 38.1% in the 1st quarter. Caisse DE Depot ET Placement DU Quebec now owns 2,482,705 shares of the company’s stock valued at $66,313,000 after acquiring an additional 684,882 shares during the period. Finally, Wedge Capital Management L L P NC increased its holdings in shares of Dropbox by 4.0% in the 2nd quarter. Wedge Capital Management L L P NC now owns 2,227,560 shares of the company’s stock valued at $63,708,000 after acquiring an additional 86,534 shares during the period. Hedge funds and other institutional investors own 94.84% of the company’s stock.

Dropbox Trading Up 0.8%

Shares of DBX opened at $29.00 on Monday. Dropbox, Inc. has a 12 month low of $24.42 and a 12 month high of $33.33. The stock has a fifty day moving average price of $29.73 and a 200-day moving average price of $28.70. The firm has a market cap of $7.83 billion, a PE ratio of 17.68, a P/E/G ratio of 3.82 and a beta of 0.66.

Dropbox (NASDAQ:DBX) last issued its quarterly earnings data on Thursday, August 7th. The company reported $0.71 EPS for the quarter, beating the consensus estimate of $0.63 by $0.08. Dropbox had a negative return on equity of 61.31% and a net margin of 19.17%.The firm had revenue of $625.70 million during the quarter, compared to analyst estimates of $618.60 million. During the same quarter in the prior year, the business posted $0.60 EPS. The business’s revenue for the quarter was down 1.4% compared to the same quarter last year. As a group, research analysts forecast that Dropbox, Inc. will post 1.64 EPS for the current year.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the company. Weiss Ratings reiterated a “hold (c+)” rating on shares of Dropbox in a report on Wednesday, October 8th. UBS Group downgraded 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. Finally, Wall Street Zen downgraded Dropbox from a “buy” rating to a “hold” rating in a report on Sunday, October 26th. Three research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, Dropbox currently has a consensus rating of “Reduce” and an average target price of $29.67.

Insider Activity

In related news, 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Timothy Regan sold 1,500 shares of the business’s stock in a transaction dated Wednesday, October 15th. The shares were sold at an average price of $28.62, for a total value of $42,930.00. Following the sale, the chief financial officer owned 470,121 shares in the company, valued at approximately $13,454,863.02. The trade was a 0.32% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 316,132 shares of company stock worth $9,178,284. Company insiders own 28.59% of the company’s stock.

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.