Rehmann Capital Advisory Group Buys 6,562 Shares of Dropbox, Inc. $DBX

Rehmann Capital Advisory Group boosted its stake in Dropbox, Inc. (NASDAQ:DBX) by 26.0% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 31,826 shares of the company’s stock after purchasing an additional 6,562 shares during the quarter. Rehmann Capital Advisory Group’s holdings in Dropbox were worth $910,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Elequin Capital LP raised its position in shares of Dropbox by 71.0% during the first quarter. Elequin Capital LP now owns 1,130 shares of the company’s stock worth $30,000 after purchasing an additional 469 shares during the period. Brooklyn Investment Group grew its holdings in shares of Dropbox by 250.3% during the first quarter. Brooklyn Investment Group now owns 1,387 shares of the company’s stock worth $37,000 after buying an additional 991 shares in the last quarter. Cullen Frost Bankers Inc. bought a new position in shares of Dropbox during the second quarter worth about $41,000. SBI Securities Co. Ltd. grew its holdings in shares of Dropbox by 33.4% during the first quarter. SBI Securities Co. Ltd. now owns 1,794 shares of the company’s stock worth $48,000 after buying an additional 449 shares in the last quarter. Finally, UMB Bank n.a. grew its holdings in shares of Dropbox by 29.7% during the second quarter. UMB Bank n.a. now owns 3,243 shares of the company’s stock worth $93,000 after buying an additional 742 shares in the last quarter. Institutional investors and hedge funds own 94.84% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on DBX. Wall Street Zen upgraded Dropbox from a “hold” rating to a “buy” rating in a report on Saturday, October 18th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Dropbox in a research report on Wednesday, October 8th. Finally, UBS Group lowered Dropbox from a “neutral” rating to a “sell” rating and lowered their price target for the stock from $29.00 to $27.00 in a research report on Thursday, September 18th. Three research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Reduce” and an average price target of $29.67.

Dropbox Trading Down 1.8%

NASDAQ:DBX opened at $29.27 on Thursday. The stock has a market cap of $7.90 billion, a P/E ratio of 17.85, a PEG ratio of 3.93 and a beta of 0.67. The stock has a 50 day simple moving average of $29.61 and a 200 day simple moving average of $28.54. Dropbox, Inc. has a 1-year low of $24.42 and a 1-year high of $33.33.

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

Insider Buying and Selling at Dropbox

In related news, CTO Ali Dasdan sold 12,812 shares of Dropbox stock in a transaction that occurred on Monday, September 8th. The stock was sold at an average price of $30.00, for a total transaction of $384,360.00. Following the completion of the sale, the chief technology officer directly owned 551,060 shares of the company’s stock, valued at approximately $16,531,800. This trade represents a 2.27% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider William T. Yoon sold 11,430 shares of Dropbox stock in a transaction on Monday, September 8th. The shares were sold at an average price of $30.16, for a total value of $344,728.80. Following the completion of the transaction, the insider directly owned 223,662 shares of the company’s stock, valued at $6,745,645.92. This represents a 4.86% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 318,632 shares of company stock worth $9,248,234 in the last 90 days. Company insiders own 29.95% of the company’s stock.

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.