Campbell & CO Investment Adviser LLC Sells 116,143 Shares of Dropbox, Inc. $DBX

Campbell & CO Investment Adviser LLC cut its stake in Dropbox, Inc. (NASDAQ:DBX) by 68.0% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 54,557 shares of the company’s stock after selling 116,143 shares during the period. Campbell & CO Investment Adviser LLC’s holdings in Dropbox were worth $1,648,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of the stock. First Horizon Corp acquired a new position in Dropbox during the third quarter worth $31,000. Neo Ivy Capital Management bought a new stake in shares of Dropbox in the 2nd quarter worth about $30,000. Geneos Wealth Management Inc. increased its position in shares of Dropbox by 78.0% during the 2nd quarter. Geneos Wealth Management Inc. now owns 1,273 shares of the company’s stock worth $36,000 after purchasing an additional 558 shares in the last quarter. SJS Investment Consulting Inc. increased its position in shares of Dropbox by 6,319.0% during the 3rd quarter. SJS Investment Consulting Inc. now owns 1,348 shares of the company’s stock worth $41,000 after purchasing an additional 1,327 shares in the last quarter. Finally, Cullen Frost Bankers Inc. bought a new position in Dropbox during the 2nd quarter valued at about $41,000. Institutional investors and hedge funds own 94.84% of the company’s stock.

Dropbox Trading Down 1.4%

DBX opened at $26.13 on Friday. Dropbox, Inc. has a 1-year low of $24.42 and a 1-year high of $33.33. The stock has a market capitalization of $6.76 billion, a PE ratio of 14.76, a PEG ratio of 2.13 and a beta of 0.62. The firm has a 50-day moving average price of $28.59 and a two-hundred day moving average price of $28.71.

Dropbox (NASDAQ:DBX) last posted its quarterly earnings data on Thursday, November 6th. The company reported $0.74 earnings per share for the quarter, topping the consensus estimate of $0.64 by $0.10. The firm had revenue of $634.40 million during the quarter, compared to analysts’ expectations of $623.59 million. Dropbox had a net margin of 19.87% and a negative return on equity of 49.51%. Dropbox’s revenue was down .7% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.60 EPS. On average, research analysts predict that Dropbox, Inc. will post 1.64 EPS for the current year.

Insider Buying and Selling at Dropbox

In other news, insider Ashraf Alkarmi sold 10,098 shares of Dropbox stock in a transaction that occurred on Tuesday, November 18th. The shares were sold at an average price of $29.18, for a total transaction of $294,659.64. Following the completion of the sale, the insider owned 435,810 shares in the company, valued at $12,716,935.80. The trade was a 2.26% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Andrew Houston sold 101,167 shares of the business’s stock in a transaction that occurred on Friday, November 14th. The stock was sold at an average price of $30.23, for a total transaction of $3,058,278.41. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 405,452 shares of company stock valued at $11,672,021. 29.95% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several analysts have weighed in on the stock. Royal Bank Of Canada decreased their price objective on shares of Dropbox from $38.00 to $35.00 and set an “outperform” rating on the stock in a research note on Monday, January 5th. Weiss Ratings reissued a “hold (c+)” rating on shares of Dropbox in a report on Wednesday, October 8th. Finally, Wall Street Zen upgraded Dropbox from a “hold” rating to a “buy” rating in a research report on Saturday, November 8th. One research analyst has rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, Dropbox currently has a consensus rating of “Hold” and an average target price of $31.33.

About Dropbox

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.