Chicago Partners Investment Group LLC Acquires 1,063 Shares of Dropbox, Inc. $DBX

Chicago Partners Investment Group LLC lifted its position in shares of Dropbox, Inc. (NASDAQ:DBX) by 11.7% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 10,141 shares of the company’s stock after acquiring an additional 1,063 shares during the quarter. Chicago Partners Investment Group LLC’s holdings in Dropbox were worth $285,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the company. Acadian Asset Management LLC boosted its holdings in shares of Dropbox by 1.9% during the 1st quarter. Acadian Asset Management LLC now owns 8,544,978 shares of the company’s stock valued at $228,202,000 after acquiring an additional 157,148 shares in the last quarter. LSV Asset Management boosted its holdings 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 acquiring an additional 1,187,395 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in shares of Dropbox by 1.2% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 2,950,273 shares of the company’s stock valued at $78,802,000 after acquiring an additional 36,268 shares in the last quarter. Caisse DE Depot ET Placement DU Quebec boosted its holdings 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 acquiring an additional 684,882 shares in the last quarter. Finally, Wedge Capital Management L L P NC boosted its holdings in shares of Dropbox by 4.0% during the 2nd quarter. Wedge Capital Management L L P NC now owns 2,227,560 shares of the company’s stock valued at $63,708,000 after acquiring an additional 86,534 shares in the last quarter. Institutional investors and hedge funds own 94.84% of the company’s stock.

Insider Transactions at Dropbox

In other news, insider William T. Yoon sold 11,430 shares of Dropbox stock in a transaction dated Monday, September 8th. The stock was sold at an average price of $30.16, for a total value of $344,728.80. Following the completion of the transaction, the insider directly owned 223,662 shares of the company’s stock, valued at approximately $6,745,645.92. This trade represents a 4.86% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Ashraf Alkarmi sold 10,098 shares of Dropbox 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 directly owned 469,333 shares of the company’s stock, valued at approximately $12,812,790.90. This trade represents a 2.11% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 318,632 shares of company stock worth $9,248,234. Corporate insiders own 29.95% of the company’s stock.

Dropbox Trading Up 0.0%

Shares of DBX opened at $29.36 on Friday. The stock’s 50-day moving average price is $29.67 and its two-hundred day moving average price is $28.60. Dropbox, Inc. has a 12 month low of $24.42 and a 12 month high of $33.33. The company has a market capitalization of $7.92 billion, a PE ratio of 17.90, a PEG ratio of 3.87 and a beta of 0.67.

Dropbox (NASDAQ:DBX) last posted its quarterly earnings data on Thursday, August 7th. The company reported $0.71 earnings per share for the quarter, topping the consensus estimate of $0.63 by $0.08. Dropbox had a negative return on equity of 61.31% and a net margin of 19.17%.The firm had revenue of $625.70 million during the quarter, compared to analyst estimates of $618.60 million. During the same period last year, the company posted $0.60 EPS. The business’s quarterly revenue was down 1.4% on a year-over-year basis. Equities research analysts predict that Dropbox, Inc. will post 1.64 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the company. UBS Group downgraded 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 report on Thursday, September 18th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Dropbox in a report on Friday. Finally, Wall Street Zen raised Dropbox from a “hold” rating to a “buy” rating in a report on Saturday, October 18th. Three research analysts have rated the stock with a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, Dropbox currently has an average rating of “Reduce” and a consensus price target of $29.67.

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.