Optas LLC Has $558,000 Holdings in Dropbox, Inc. $DBX

Optas LLC raised its position in shares of Dropbox, Inc. (NASDAQ:DBX) by 117.0% in the second quarter, according to its most recent filing with the SEC. The firm owned 19,516 shares of the company’s stock after purchasing an additional 10,521 shares during the quarter. Optas LLC’s holdings in Dropbox were worth $558,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in DBX. Seizert Capital Partners LLC increased its position in 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 purchasing an additional 1,578,566 shares during the period. LSV Asset Management grew its position 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 worth $203,891,000 after buying an additional 1,187,395 shares during the period. Caisse DE Depot ET Placement DU Quebec grew its position 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 worth $66,313,000 after buying an additional 684,882 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in shares of Dropbox during the 1st quarter worth approximately $6,401,000. Finally, Allianz Asset Management GmbH grew its position in shares of Dropbox by 25.6% during the 1st quarter. Allianz Asset Management GmbH now owns 981,479 shares of the company’s stock worth $26,215,000 after buying an additional 199,768 shares during the period. Institutional investors and hedge funds own 94.84% of the company’s stock.

Dropbox Price Performance

NASDAQ DBX opened at $29.56 on Thursday. The stock has a market capitalization of $7.98 billion, a price-to-earnings ratio of 18.02, a PEG ratio of 3.84 and a beta of 0.67. Dropbox, Inc. has a one year low of $24.42 and a one year high of $33.33. The business’s fifty day moving average is $29.19 and its 200-day moving average is $28.40.

Dropbox (NASDAQ:DBX) last released its earnings results on Thursday, August 7th. The company reported $0.71 EPS for the quarter, topping analysts’ consensus estimates of $0.63 by $0.08. The company had revenue of $625.70 million for 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%.The business’s revenue for the quarter was down 1.4% compared to the same quarter last year. During the same period in the previous year, the business posted $0.60 EPS. Research analysts expect that Dropbox, Inc. will post 1.64 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the stock. Wall Street Zen downgraded shares of Dropbox from a “buy” rating to a “hold” rating in a research report on Friday, September 5th. Weiss Ratings reissued a “hold (c+)” rating on shares of Dropbox in a research report on Wednesday. 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. Three research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Dropbox currently has an average rating of “Reduce” and a consensus price target of $29.67.

Insider Buying and Selling

In related news, Director Karen Peacock sold 2,000 shares of Dropbox stock in a transaction dated Monday, September 8th. The stock was sold at an average price of $30.00, for a total value of $60,000.00. Following the completion of the sale, the director owned 23,295 shares of the company’s stock, valued at approximately $698,850. This trade represents a 7.91% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CAO Sarah Elizabeth Schubach sold 1,066 shares of Dropbox stock in a transaction dated Tuesday, September 30th. The stock was sold at an average price of $30.71, for a total value of $32,736.86. Following the completion of the sale, the chief accounting officer directly owned 105,723 shares of the company’s stock, valued at approximately $3,246,753.33. This trade represents a 1.00% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 318,566 shares of company stock worth $9,241,871 in the last quarter. 29.95% of the stock is currently owned by company insiders.

Dropbox 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.