Y Intercept Hong Kong Ltd Purchases Shares of 49,101 Dropbox, Inc. $DBX

Y Intercept Hong Kong Ltd purchased a new stake in shares of Dropbox, Inc. (NASDAQ:DBX) during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund purchased 49,101 shares of the company’s stock, valued at approximately $1,404,000.

Several other large investors have also added to or reduced their stakes in DBX. VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new stake in Dropbox during the 2nd quarter valued at about $56,911,000. Seizert Capital Partners LLC raised its stake in shares of Dropbox by 524.8% during the 1st 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 raised its stake in shares of Dropbox by 18.4% during the 1st 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 raised its stake in shares of Dropbox by 38.1% during the 1st 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 buying an additional 684,882 shares during the last quarter. Finally, Allianz Asset Management GmbH raised its stake in shares of Dropbox by 46.4% during the 2nd quarter. Allianz Asset Management GmbH now owns 1,437,355 shares of the company’s stock valued at $41,108,000 after buying an additional 455,876 shares during the last quarter. Hedge funds and other institutional investors own 94.84% of the company’s stock.

Dropbox Trading Up 0.8%

NASDAQ DBX opened at $29.00 on Monday. The stock has a market capitalization of $7.83 billion, a price-to-earnings ratio of 17.68, a PEG ratio of 3.82 and a beta of 0.66. Dropbox, Inc. has a twelve month low of $24.42 and a twelve month high of $33.33. The stock has a 50-day moving average of $29.73 and a 200 day moving average of $28.70.

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 analysts’ consensus estimates of $0.63 by $0.08. The company 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%.Dropbox’s quarterly revenue was down 1.4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.60 EPS. Equities analysts predict that Dropbox, Inc. will post 1.64 EPS for the current fiscal year.

Insider Buying and Selling

In related news, insider Ashraf Alkarmi sold 10,098 shares of the company’s stock in a transaction dated Monday, August 18th. The stock was 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 of the company’s stock, valued at approximately $12,812,790.90. This represents a 2.11% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Andrew Houston sold 101,167 shares of the company’s stock in a transaction dated Wednesday, October 1st. The stock was sold at an average price of $29.64, for a total value of $2,998,589.88. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 316,132 shares of company stock worth $9,178,284 in the last ninety days. 28.59% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on DBX. UBS Group lowered Dropbox from a “neutral” rating to a “sell” rating and reduced their price objective for the company from $29.00 to $27.00 in a research note on Thursday, September 18th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Dropbox in a research note on Wednesday, October 8th. Finally, Wall Street Zen lowered Dropbox from a “buy” rating to a “hold” rating in a research note on Sunday, October 26th. Three analysts have rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Reduce” and a consensus price target of $29.67.

About Dropbox

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.