Impact Partnership Wealth LLC Buys 722 Shares of Dropbox, Inc. $DBX

Impact Partnership Wealth LLC lifted its stake in shares of Dropbox, Inc. (NASDAQ:DBX) by 7.9% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 9,886 shares of the company’s stock after acquiring an additional 722 shares during the period. Impact Partnership Wealth LLC’s holdings in Dropbox were worth $283,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in DBX. VIRGINIA RETIREMENT SYSTEMS ET Al bought a new position in Dropbox in the second quarter valued at $56,911,000. Seizert Capital Partners LLC grew its position in 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 purchasing an additional 1,578,566 shares in the last quarter. LSV Asset Management grew its position in 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 purchasing an additional 1,187,395 shares in the last quarter. Caisse DE Depot ET Placement DU Quebec grew its position in Dropbox by 38.1% in the first 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 purchasing an additional 684,882 shares in the last quarter. Finally, Allianz Asset Management GmbH grew its position in Dropbox by 46.4% in the second quarter. Allianz Asset Management GmbH now owns 1,437,355 shares of the company’s stock valued at $41,108,000 after purchasing an additional 455,876 shares in the last quarter. Institutional investors own 94.84% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on DBX shares. Wall Street Zen downgraded shares of Dropbox from a “buy” rating to a “hold” rating in a research report on Sunday, October 26th. UBS Group downgraded Dropbox from a “neutral” rating to a “sell” rating and cut their price objective for the company 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 Wednesday, October 8th. Three equities research analysts have rated the stock with a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Reduce” and an average price target of $29.67.

Dropbox Price Performance

Shares of DBX opened at $28.76 on Friday. The firm has a 50-day moving average of $29.72 and a 200-day moving average of $28.66. Dropbox, Inc. has a one year low of $24.42 and a one year high of $33.33. The company has a market cap of $7.76 billion, a PE ratio of 17.54, a price-to-earnings-growth ratio of 3.74 and a beta of 0.67.

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

Insider Buying and Selling

In other news, insider William T. Yoon sold 11,430 shares of Dropbox stock in a transaction dated 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 owned 223,662 shares of the company’s stock, valued at $6,745,645.92. This trade represents a 4.86% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Ashraf Alkarmi sold 10,098 shares of Dropbox stock in a transaction dated Monday, August 18th. The stock was sold at an average price of $27.30, for a total transaction of $275,675.40. Following the sale, the insider directly owned 469,333 shares of the company’s stock, valued at $12,812,790.90. The trade was a 2.11% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 316,132 shares of company stock worth $9,178,284. Corporate insiders own 29.95% of the company’s stock.

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.