Chicago Partners Investment Group LLC Has $285,000 Stake in Dropbox, Inc. $DBX

Chicago Partners Investment Group LLC grew its holdings in Dropbox, Inc. (NASDAQ:DBX) by 11.7% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 10,141 shares of the company’s stock after buying an additional 1,063 shares during the period. Chicago Partners Investment Group LLC’s holdings in Dropbox were worth $285,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in DBX. VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new stake in shares of Dropbox in the second quarter valued at approximately $56,911,000. Seizert Capital Partners LLC lifted its position in shares of Dropbox by 524.8% in the first quarter. Seizert Capital Partners LLC now owns 1,879,374 shares of the company’s stock valued at $50,198,000 after buying an additional 1,578,566 shares during the last quarter. LSV Asset Management lifted its position in shares of Dropbox by 18.4% in the first quarter. LSV Asset Management now owns 7,633,516 shares of the company’s stock valued at $203,891,000 after buying an additional 1,187,395 shares during the last quarter. Caisse DE Depot ET Placement DU Quebec increased its stake in shares of Dropbox by 38.1% during the first quarter. Caisse DE Depot ET Placement DU Quebec now owns 2,482,705 shares of the company’s stock worth $66,313,000 after purchasing an additional 684,882 shares during the period. Finally, Allianz Asset Management GmbH lifted its holdings in Dropbox by 46.4% during the 2nd quarter. Allianz Asset Management GmbH now owns 1,437,355 shares of the company’s stock worth $41,108,000 after purchasing an additional 455,876 shares during the last quarter. 94.84% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, CEO Andrew Houston sold 101,167 shares of Dropbox 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 SEC, which is available at this hyperlink. Also, insider Ashraf Alkarmi sold 10,098 shares of Dropbox stock in a transaction on Monday, August 18th. The shares were sold at an average price of $27.30, for a total value of $275,675.40. Following the completion of the transaction, the insider owned 469,333 shares in the company, valued at approximately $12,812,790.90. The trade was a 2.11% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 318,632 shares of company stock worth $9,248,234. 29.95% of the stock is owned by company insiders.

Dropbox Price Performance

Dropbox stock opened at $29.36 on Friday. The stock’s fifty day moving average price is $29.67 and its two-hundred day moving average price is $28.60. Dropbox, Inc. has a one year low of $24.42 and a one year high of $33.33. The firm has a market cap of $7.92 billion, a PE ratio of 17.90, a price-to-earnings-growth ratio of 3.87 and a beta of 0.67.

Dropbox (NASDAQ:DBX) last posted its quarterly earnings data on Thursday, August 7th. The company reported $0.71 EPS for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $618.60 million. During the same quarter last year, the company earned $0.60 EPS. The company’s revenue was down 1.4% on a year-over-year basis. Sell-side analysts expect that Dropbox, Inc. will post 1.64 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the company. Wall Street Zen raised Dropbox from a “hold” rating to a “buy” rating in a report on Saturday, October 18th. UBS Group cut Dropbox from a “neutral” rating to a “sell” rating and dropped their price target for the stock from $29.00 to $27.00 in a report on Thursday, September 18th. Finally, Weiss Ratings reissued a “hold (c+)” rating on shares of Dropbox in a report on Friday. Three analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Reduce” and an average price target of $29.67.

Dropbox Company 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.