Donald L. Hagan LLC Decreases Stake in Dropbox, Inc. (NASDAQ:DBX)

Donald L. Hagan LLC lowered its position in shares of Dropbox, Inc. (NASDAQ:DBX) by 18.4% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 14,034 shares of the company’s stock after selling 3,175 shares during the quarter. Donald L. Hagan LLC’s holdings in Dropbox were worth $357,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. V Square Quantitative Management LLC bought a new position in Dropbox during the third quarter valued at $31,000. GAMMA Investing LLC increased its holdings in Dropbox by 274.0% in the 2nd quarter. GAMMA Investing LLC now owns 1,238 shares of the company’s stock worth $28,000 after acquiring an additional 907 shares during the last quarter. Fifth Third Bancorp raised its stake in Dropbox by 548.8% in the 2nd quarter. Fifth Third Bancorp now owns 1,382 shares of the company’s stock valued at $31,000 after acquiring an additional 1,169 shares during the period. UMB Bank n.a. lifted its holdings in Dropbox by 2,479.4% during the third quarter. UMB Bank n.a. now owns 1,754 shares of the company’s stock valued at $45,000 after purchasing an additional 1,686 shares during the last quarter. Finally, Quarry LP boosted its position in Dropbox by 81.1% during the second quarter. Quarry LP now owns 1,965 shares of the company’s stock worth $44,000 after purchasing an additional 880 shares during the period. Hedge funds and other institutional investors own 94.84% of the company’s stock.

Analyst Ratings Changes

Separately, UBS Group lowered their price target on shares of Dropbox from $30.00 to $28.00 and set a “buy” rating on the stock in a research report on Friday, August 9th. Two research analysts have rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $28.67.

Dropbox Stock Up 3.4 %

NASDAQ:DBX traded up $0.91 during mid-day trading on Wednesday, hitting $27.57. 425,684 shares of the stock traded hands, compared to its average volume of 3,673,342. The business’s 50-day moving average price is $25.20 and its 200 day moving average price is $23.67. The company has a market cap of $8.97 billion, a PE ratio of 15.50, a price-to-earnings-growth ratio of 1.62 and a beta of 0.61. Dropbox, Inc. has a 12-month low of $20.68 and a 12-month high of $33.43.

Dropbox (NASDAQ:DBX) last released its quarterly earnings results on Thursday, August 8th. The company reported $0.60 EPS for the quarter, beating analysts’ consensus estimates of $0.52 by $0.08. Dropbox had a net margin of 23.06% and a negative return on equity of 161.78%. The firm had revenue of $634.50 million during the quarter, compared to analyst estimates of $630.10 million. During the same period in the previous year, the business earned $0.28 EPS. The business’s revenue for the quarter was up 1.9% on a year-over-year basis. Analysts anticipate that Dropbox, Inc. will post 1.31 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CFO Timothy Regan sold 2,500 shares of Dropbox stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $24.35, for a total transaction of $60,875.00. Following the completion of the sale, the chief financial officer now owns 485,724 shares in the company, valued at approximately $11,827,379.40. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, CFO Timothy Regan sold 2,500 shares of the stock in a transaction on Friday, September 13th. The stock was sold at an average price of $24.35, for a total value of $60,875.00. Following the transaction, the chief financial officer now owns 485,724 shares of the company’s stock, valued at $11,827,379.40. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Andrew Houston sold 66,064 shares of the firm’s stock in a transaction dated Tuesday, September 24th. The shares were sold at an average price of $25.00, for a total value of $1,651,600.00. Following the sale, the chief executive officer now owns 8,266,666 shares in the company, valued at $206,666,650. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 459,952 shares of company stock worth $11,544,337 in the last ninety days. 26.40% of the stock is currently owned by 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.