Dropbox, Inc. $DBX Shares Sold by KBC Group NV

KBC Group NV reduced its position in Dropbox, Inc. (NASDAQ:DBX) by 23.3% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,647,984 shares of the company’s stock after selling 501,146 shares during the period. KBC Group NV owned about 0.59% of Dropbox worth $47,132,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently made changes to their positions in DBX. Envestnet Asset Management Inc. grew its holdings in Dropbox by 177.2% in the 1st quarter. Envestnet Asset Management Inc. now owns 109,549 shares of the company’s stock valued at $2,926,000 after buying an additional 70,023 shares in the last quarter. SBI Securities Co. Ltd. grew its holdings in Dropbox by 33.4% during the 1st quarter. SBI Securities Co. Ltd. now owns 1,794 shares of the company’s stock worth $48,000 after acquiring an additional 449 shares in the last quarter. Massachusetts Financial Services Co. MA raised its stake in Dropbox by 10.2% in the first quarter. Massachusetts Financial Services Co. MA now owns 820,056 shares of the company’s stock valued at $21,904,000 after buying an additional 76,111 shares in the last quarter. Burns Matteson Capital Management LLC boosted its stake in Dropbox by 3.6% in the first quarter. Burns Matteson Capital Management LLC now owns 16,158 shares of the company’s stock valued at $432,000 after acquiring an additional 568 shares in the last quarter. Finally, Impact Partnership Wealth LLC acquired a new stake in shares of Dropbox in the first quarter valued at approximately $245,000. 94.84% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

DBX has been the subject of several analyst reports. Wall Street Zen raised shares of Dropbox from a “hold” rating to a “buy” rating in a report on Saturday, November 8th. Royal Bank Of Canada raised their price objective on Dropbox from $35.00 to $38.00 and gave the stock an “outperform” rating in a report on Friday, November 7th. Weiss Ratings reissued a “hold (c+)” rating on shares of Dropbox in a research note on Wednesday, October 8th. Finally, UBS Group lowered 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 research report on Thursday, September 18th. One research analyst has rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $31.75.

Insider Activity at Dropbox

In other news, insider Ashraf Alkarmi sold 10,000 shares of the firm’s stock in a transaction dated Monday, September 8th. The shares were sold at an average price of $30.00, for a total value of $300,000.00. Following the transaction, the insider owned 459,333 shares of the company’s stock, valued at approximately $13,779,990. This trade represents a 2.13% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Timothy Regan sold 1,500 shares of the business’s stock in a transaction that occurred on Thursday, October 30th. The shares were sold at an average price of $28.40, for a total transaction of $42,600.00. Following the transaction, the chief financial officer owned 468,621 shares of the company’s stock, valued at approximately $13,308,836.40. This represents a 0.32% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 219,552 shares of company stock valued at $6,491,997. Company insiders own 29.95% of the company’s stock.

Dropbox Stock Down 0.8%

Shares of NASDAQ:DBX opened at $30.84 on Thursday. The company has a market cap of $8.32 billion, a P/E ratio of 17.42, a price-to-earnings-growth ratio of 2.82 and a beta of 0.65. The company’s fifty day moving average is $29.92 and its two-hundred day moving average is $28.83. Dropbox, Inc. has a 12-month low of $24.42 and a 12-month 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 (EPS) for the quarter, beating analysts’ consensus estimates of $0.64 by $0.10. Dropbox had a negative return on equity of 49.51% and a net margin of 19.87%.The firm had revenue of $634.40 million during the quarter, compared to analysts’ expectations of $623.59 million. During the same quarter last year, the firm earned $0.60 earnings per share. The business’s revenue for the quarter was down .7% on a year-over-year basis. Dropbox has set its FY 2025 guidance at EPS. Q4 2025 guidance at EPS. Equities research analysts anticipate that Dropbox, Inc. will post 1.64 earnings per share for the current year.

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.