Two Sigma Securities LLC Purchases 8,054 Shares of Dropbox, Inc. (NASDAQ:DBX)

Two Sigma Securities LLC grew its position in shares of Dropbox, Inc. (NASDAQ:DBX) by 37.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 29,754 shares of the company’s stock after acquiring an additional 8,054 shares during the period. Two Sigma Securities LLC’s holdings in Dropbox were worth $894,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. EverSource Wealth Advisors LLC lifted its holdings in Dropbox by 96.1% in the 4th quarter. EverSource Wealth Advisors LLC now owns 865 shares of the company’s stock worth $26,000 after buying an additional 424 shares during the period. Avion Wealth increased its position in Dropbox by 4,472.7% during the 4th quarter. Avion Wealth now owns 1,006 shares of the company’s stock valued at $30,000 after purchasing an additional 984 shares during the period. SBI Securities Co. Ltd. bought a new position in Dropbox in the 4th quarter worth $40,000. Allworth Financial LP boosted its stake in shares of Dropbox by 33.5% during the 4th quarter. Allworth Financial LP now owns 1,456 shares of the company’s stock valued at $45,000 after purchasing an additional 365 shares in the last quarter. Finally, Huntington National Bank raised its stake in Dropbox by 768.9% in the fourth quarter. Huntington National Bank now owns 1,538 shares of the company’s stock worth $46,000 after buying an additional 1,361 shares in the last quarter. 94.84% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Separately, Jefferies Financial Group raised their target price on Dropbox from $27.00 to $30.00 and gave the company a “hold” rating in a research note on Monday, January 6th.

Dropbox Stock Performance

DBX stock opened at $28.36 on Friday. The firm has a 50 day moving average price of $26.88 and a 200-day moving average price of $28.31. Dropbox, Inc. has a 52-week low of $20.68 and a 52-week high of $33.33. The firm has a market capitalization of $8.56 billion, a price-to-earnings ratio of 20.11, a PEG ratio of 1.70 and a beta of 0.75.

Dropbox (NASDAQ:DBX) last announced its quarterly earnings data on Thursday, February 20th. The company reported $0.51 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.62 by ($0.11). Dropbox had a net margin of 17.75% and a negative return on equity of 132.63%. The company had revenue of $643.60 million for the quarter, compared to analysts’ expectations of $638.61 million. As a group, sell-side analysts forecast that Dropbox, Inc. will post 1.64 earnings per share for the current fiscal year.

Insider Activity at Dropbox

In other news, insider Eric Cox sold 3,765 shares of the firm’s stock in a transaction dated Thursday, February 27th. The shares were sold at an average price of $26.30, for a total transaction of $99,019.50. Following the sale, the insider now owns 309,550 shares of the company’s stock, valued at $8,141,165. This trade represents a 1.20 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Timothy Regan sold 2,500 shares of the business’s stock in a transaction that occurred on Thursday, January 30th. The shares were sold at an average price of $32.17, for a total transaction of $80,425.00. Following the transaction, the chief financial officer now directly owns 398,764 shares of the company’s stock, valued at $12,828,237.88. The trade was a 0.62 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 13,765 shares of company stock valued at $393,695. 28.59% of the stock is owned by corporate insiders.

About Dropbox

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.