Dropbox, Inc. $DBX Shares Sold by Aristeia Capital L.L.C.

Aristeia Capital L.L.C. reduced its holdings in shares of Dropbox, Inc. (NASDAQ:DBX) by 11.5% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 78,344 shares of the company’s stock after selling 10,156 shares during the period. Aristeia Capital L.L.C.’s holdings in Dropbox were worth $2,093,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently added to or reduced their stakes in the company. Elequin Capital LP increased its position in Dropbox by 71.0% during the 1st quarter. Elequin Capital LP now owns 1,130 shares of the company’s stock valued at $30,000 after buying an additional 469 shares in the last quarter. Brooklyn Investment Group increased its position in 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 buying an additional 991 shares in the last quarter. SBI Securities Co. Ltd. grew its stake in Dropbox by 33.4% during the 1st quarter. SBI Securities Co. Ltd. now owns 1,794 shares of the company’s stock valued at $48,000 after purchasing an additional 449 shares during the last quarter. Fifth Third Bancorp grew its stake in Dropbox by 27.3% during the 1st quarter. Fifth Third Bancorp now owns 2,288 shares of the company’s stock valued at $61,000 after purchasing an additional 490 shares during the last quarter. Finally, UMB Bank n.a. grew its stake in Dropbox by 115.0% during the 1st quarter. UMB Bank n.a. now owns 2,501 shares of the company’s stock valued at $67,000 after purchasing an additional 1,338 shares during the last quarter. 94.84% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Dropbox

In other news, insider Ashraf Alkarmi sold 10,098 shares of the company’s 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 sale, the insider owned 469,333 shares in the company, valued at $12,812,790.90. This represents a 2.11% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Abhay Parasnis sold 3,564 shares of the company’s stock in a transaction dated Wednesday, August 20th. The stock was sold at an average price of $28.26, for a total value of $100,718.64. Following the completion of the sale, the director owned 40,522 shares in the company, valued at $1,145,151.72. The trade was a 8.08% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 562,072 shares of company stock valued at $15,858,981. 28.59% of the stock is owned by insiders.

Dropbox Stock Performance

Dropbox stock opened at $29.87 on Monday. The business’s 50-day simple moving average is $27.76 and its two-hundred day simple moving average is $27.70. The company has a market cap of $8.06 billion, a PE ratio of 18.21, a PEG ratio of 3.95 and a beta of 0.69. Dropbox, Inc. has a fifty-two week low of $22.72 and a fifty-two week high of $33.33.

Dropbox (NASDAQ:DBX) last issued 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. 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 for the quarter, compared to the consensus estimate of $618.60 million. During the same quarter in the prior year, the business earned $0.60 earnings per share. The company’s revenue was down 1.4% compared to the same quarter last year. As a group, analysts predict that Dropbox, Inc. will post 1.64 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

DBX has been the topic of several research analyst reports. UBS Group dropped their price target on Dropbox from $31.00 to $29.00 and set a “neutral” rating on the stock in a research note on Friday, August 8th. Wall Street Zen downgraded Dropbox from a “buy” rating to a “hold” rating in a research note on Friday. Three investment analysts have rated the stock with a Hold rating, Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $30.33.

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.