WCG Wealth Advisors LLC Acquires New Shares in Dropbox, Inc. $DBX

WCG Wealth Advisors LLC acquired a new stake in Dropbox, Inc. (NASDAQ:DBX) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 19,685 shares of the company’s stock, valued at approximately $563,000.

Several other large investors also recently made changes to their positions in the business. Elequin Capital LP lifted its stake in Dropbox by 71.0% during the first quarter. Elequin Capital LP now owns 1,130 shares of the company’s stock valued at $30,000 after purchasing an additional 469 shares during the last quarter. Neo Ivy Capital Management acquired a new stake in shares of Dropbox during the 2nd quarter valued at $30,000. Brooklyn Investment Group lifted its position in shares of Dropbox by 250.3% during the 1st quarter. Brooklyn Investment Group now owns 1,387 shares of the company’s stock valued at $37,000 after acquiring an additional 991 shares during the last quarter. Cullen Frost Bankers Inc. bought a new stake in shares of Dropbox during the 2nd quarter worth $41,000. Finally, Employees Retirement System of Texas acquired a new position in shares of Dropbox in the 2nd quarter worth $53,000. Institutional investors own 94.84% of the company’s stock.

Insider Activity at Dropbox

In other Dropbox news, CTO Ali Dasdan sold 12,812 shares of the company’s stock in a transaction dated Monday, September 8th. The stock was sold at an average price of $30.00, for a total value of $384,360.00. Following the transaction, the chief technology officer directly owned 551,060 shares of the company’s stock, valued at $16,531,800. This represents a 2.27% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Andrew Houston sold 101,167 shares of Dropbox stock in a transaction dated Wednesday, October 1st. The shares were 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. Over the last ninety days, insiders sold 437,607 shares of company stock valued at $13,037,237. 29.95% of the stock is owned by insiders.

Analysts Set New Price Targets

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

Dropbox Stock Performance

DBX stock opened at $29.94 on Thursday. The stock has a market cap of $7.75 billion, a P/E ratio of 16.92, a P/E/G ratio of 2.54 and a beta of 0.63. The firm has a 50 day simple moving average of $29.56 and a 200 day simple moving average of $28.89. Dropbox, Inc. has a 52 week low of $24.42 and a 52 week high of $33.33.

Dropbox (NASDAQ:DBX) last released its quarterly earnings data on Thursday, November 6th. The company reported $0.74 earnings per share for the quarter, beating the consensus estimate of $0.64 by $0.10. The firm had revenue of $634.40 million for the quarter, compared to analyst estimates of $623.59 million. Dropbox had a net margin of 19.87% and a negative return on equity of 49.51%. The company’s revenue for the quarter was down .7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.60 EPS. Sell-side analysts predict that Dropbox, Inc. will post 1.64 EPS for the current year.

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.