SGL Investment Advisors Inc. Raises Stake in Dropbox, Inc. $DBX

SGL Investment Advisors Inc. boosted its holdings in shares of Dropbox, Inc. (NASDAQ:DBX) by 2.4% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 16,143 shares of the company’s stock after buying an additional 375 shares during the quarter. SGL Investment Advisors Inc.’s holdings in Dropbox were worth $442,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Seizert Capital Partners LLC boosted its position in Dropbox by 524.8% in the 1st quarter. Seizert Capital Partners LLC now owns 1,879,374 shares of the company’s stock worth $50,198,000 after purchasing an additional 1,578,566 shares in the last quarter. LSV Asset Management lifted its stake in shares of Dropbox by 18.4% in the 1st quarter. LSV Asset Management now owns 7,633,516 shares of the company’s stock valued at $203,891,000 after purchasing an additional 1,187,395 shares during the period. Caisse DE Depot ET Placement DU Quebec boosted its holdings in Dropbox by 38.1% during the first 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 in the last quarter. Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in Dropbox during the first quarter worth $6,401,000. Finally, Allianz Asset Management GmbH grew its position in Dropbox by 25.6% during the first quarter. Allianz Asset Management GmbH now owns 981,479 shares of the company’s stock valued at $26,215,000 after buying an additional 199,768 shares during the period. 94.84% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts have recently commented on DBX shares. UBS Group cut Dropbox from a “neutral” rating to a “sell” rating and dropped their target price for the company from $29.00 to $27.00 in a research report on Thursday, September 18th. Wall Street Zen lowered Dropbox from a “buy” rating to a “hold” rating in a report on Friday, September 5th. Finally, Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Dropbox in a research note on Saturday, September 27th. Three investment analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, Dropbox presently has an average rating of “Reduce” and a consensus price target of $29.67.

Dropbox Price Performance

NASDAQ DBX opened at $29.34 on Tuesday. The stock’s 50 day simple moving average is $29.13 and its 200-day simple moving average is $28.39. The company has a market cap of $7.92 billion, a PE ratio of 17.89, a price-to-earnings-growth ratio of 3.89 and a beta of 0.67. Dropbox, Inc. has a 1-year low of $24.42 and a 1-year high of $33.33.

Dropbox (NASDAQ:DBX) last posted its quarterly earnings data on Thursday, August 7th. The company reported $0.71 EPS for the quarter, beating 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 the consensus estimate of $618.60 million. During the same period in the prior year, the company earned $0.60 EPS. The firm’s revenue was down 1.4% compared to the same quarter last year. On average, equities research analysts anticipate that Dropbox, Inc. will post 1.64 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, CFO Timothy Regan sold 5,000 shares of the stock in a transaction that occurred on Wednesday, October 1st. The stock was sold at an average price of $29.76, for a total value of $148,800.00. Following the completion of the sale, the chief financial officer owned 471,621 shares of the company’s stock, valued at approximately $14,035,440.96. This trade represents a 1.05% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CTO Ali Dasdan sold 12,812 shares of the business’s stock in a transaction on 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 in the company, valued at $16,531,800. This trade represents a 2.27% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 318,566 shares of company stock worth $9,241,871. 29.95% of the stock is currently owned by 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.