Envestnet Asset Management Inc. Boosts Position in Dropbox, Inc. $DBX

Envestnet Asset Management Inc. raised its position in Dropbox, Inc. (NASDAQ:DBX) by 17.2% during the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 128,398 shares of the company’s stock after acquiring an additional 18,849 shares during the quarter. Envestnet Asset Management Inc.’s holdings in Dropbox were worth $3,672,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in DBX. Resonant Capital Advisors LLC lifted its stake in shares of Dropbox by 9.2% in the 2nd quarter. Resonant Capital Advisors LLC now owns 12,824 shares of the company’s stock worth $367,000 after purchasing an additional 1,080 shares during the period. AlphaQuest LLC increased its holdings in Dropbox by 61.4% during the second quarter. AlphaQuest LLC now owns 35,601 shares of the company’s stock valued at $1,018,000 after buying an additional 13,550 shares during the last quarter. Asset Management One Co. Ltd. bought a new position in Dropbox in the second quarter worth approximately $1,383,000. Ethic Inc. purchased a new position in shares of Dropbox during the 2nd quarter worth $222,000. Finally, Rehmann Capital Advisory Group boosted its stake in shares of Dropbox by 26.0% during the 2nd quarter. Rehmann Capital Advisory Group now owns 31,826 shares of the company’s stock worth $910,000 after acquiring an additional 6,562 shares during the last quarter. 94.84% of the stock is currently owned by institutional investors.

Insider Activity

In related news, CFO Timothy Regan sold 5,000 shares of the business’s stock in a transaction on Wednesday, October 1st. The shares were sold at an average price of $29.76, for a total value of $148,800.00. Following the completion of the sale, the chief financial officer owned 471,621 shares of the company’s stock, valued at approximately $14,035,440.96. The trade was a 1.05% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Andrew Houston sold 101,167 shares of the business’s stock in a transaction dated Wednesday, October 1st. The stock was sold at an average price of $29.64, for a total transaction of $2,998,589.88. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 217,052 shares of company stock worth $6,422,122. Insiders own 29.95% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the company. Royal Bank Of Canada raised their target price on Dropbox from $35.00 to $38.00 and gave the stock an “outperform” rating in a report on Friday, November 7th. UBS Group cut Dropbox from a “neutral” rating to a “sell” rating and reduced their price target for the stock from $29.00 to $27.00 in a research report on Thursday, September 18th. Wall Street Zen raised Dropbox from a “hold” rating to a “buy” rating in a research report on Saturday, November 8th. Finally, Weiss Ratings reiterated a “hold (c+)” rating on shares of Dropbox in a research note on Wednesday, October 8th. One equities research analyst has rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $31.75.

Dropbox Stock Performance

DBX stock opened at $30.36 on Friday. Dropbox, Inc. has a one year low of $24.42 and a one year high of $33.33. The firm’s fifty day moving average is $29.95 and its 200 day moving average is $28.85. The firm has a market cap of $7.86 billion, a PE ratio of 17.15, a P/E/G ratio of 2.75 and a beta of 0.65.

Dropbox (NASDAQ:DBX) last posted its earnings results on Thursday, November 6th. The company reported $0.74 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.64 by $0.10. Dropbox had a net margin of 19.87% and a negative return on equity of 49.51%. The business had revenue of $634.40 million for the quarter, compared to analyst estimates of $623.59 million. The company’s revenue for the quarter was down .7% on a year-over-year basis. During the same period in the prior year, the company posted $0.60 EPS. Dropbox has set its FY 2025 guidance at EPS. Q4 2025 guidance at EPS. Research analysts predict that Dropbox, Inc. will post 1.64 earnings per share for the current fiscal year.

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.