Hussman Strategic Advisors Inc. Has $3.17 Million Position in Dropbox, Inc. $DBX

Hussman Strategic Advisors Inc. boosted its holdings in shares of Dropbox, Inc. (NASDAQ:DBX) by 25.0% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 105,000 shares of the company’s stock after acquiring an additional 21,000 shares during the quarter. Dropbox makes up approximately 0.7% of Hussman Strategic Advisors Inc.’s portfolio, making the stock its 25th largest holding. Hussman Strategic Advisors Inc.’s holdings in Dropbox were worth $3,172,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. First Horizon Corp bought a new position in shares of Dropbox during the 3rd quarter valued at $31,000. Neo Ivy Capital Management acquired a new position in Dropbox during the second quarter worth $30,000. Geneos Wealth Management Inc. increased its position in Dropbox by 78.0% during the second quarter. Geneos Wealth Management Inc. now owns 1,273 shares of the company’s stock worth $36,000 after buying an additional 558 shares during the last quarter. SJS Investment Consulting Inc. raised its holdings in Dropbox by 6,319.0% during the third quarter. SJS Investment Consulting Inc. now owns 1,348 shares of the company’s stock valued at $41,000 after buying an additional 1,327 shares in the last quarter. Finally, Cullen Frost Bankers Inc. acquired a new stake in shares of Dropbox in the second quarter worth about $41,000. 94.84% of the stock is owned by institutional investors.

Insider Activity at Dropbox

In other Dropbox news, CEO Andrew Houston sold 23,818 shares of the firm’s stock in a transaction on Monday, January 12th. The shares were sold at an average price of $27.51, for a total value of $655,233.18. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CFO Timothy Regan sold 1,500 shares of the business’s stock in a transaction dated Friday, November 28th. The stock was sold at an average price of $29.64, for a total transaction of $44,460.00. Following the transaction, the chief financial officer owned 439,147 shares in the company, valued at approximately $13,016,317.08. The trade was a 0.34% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 406,620 shares of company stock worth $11,703,370. Insiders own 28.59% of the company’s stock.

Dropbox Stock Performance

Dropbox stock opened at $26.53 on Wednesday. Dropbox, Inc. has a 52 week low of $24.42 and a 52 week high of $33.33. The firm has a market capitalization of $6.86 billion, a PE ratio of 14.99, a PEG ratio of 2.17 and a beta of 0.62. The business’s 50-day simple moving average is $28.00 and its 200-day simple moving average is $28.65.

Dropbox (NASDAQ:DBX) last announced its earnings results on Thursday, November 6th. The company reported $0.74 earnings per share for the quarter, beating the consensus estimate of $0.64 by $0.10. The firm had revenue of $634.40 million during the quarter, compared to the consensus estimate of $623.59 million. Dropbox had a negative return on equity of 49.51% and a net margin of 19.87%.The firm’s revenue for the quarter was down .7% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.60 EPS. Research analysts forecast that Dropbox, Inc. will post 1.64 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on DBX shares. Royal Bank Of Canada decreased their price target on Dropbox from $38.00 to $35.00 and set an “outperform” rating for the company in a research note on Monday, January 5th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Dropbox in a research report on Wednesday, January 21st. Finally, Wall Street Zen downgraded Dropbox from a “buy” rating to a “hold” rating in a report on Friday, January 23rd. One investment analyst has rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $31.33.

Dropbox 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.