Kapitalo Investimentos Ltda Sells 8,583 Shares of Dropbox, Inc. (NASDAQ:DBX)

Kapitalo Investimentos Ltda decreased its stake in shares of Dropbox, Inc. (NASDAQ:DBX) by 39.5% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 13,143 shares of the company’s stock after selling 8,583 shares during the quarter. Kapitalo Investimentos Ltda’s holdings in Dropbox were worth $387,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Jacobs Levy Equity Management Inc. increased its position in Dropbox by 5.4% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 4,418,927 shares of the company’s stock valued at $120,327,000 after purchasing an additional 227,633 shares during the period. LSV Asset Management increased its position in Dropbox by 119.4% during the 4th quarter. LSV Asset Management now owns 3,305,730 shares of the company’s stock valued at $97,453,000 after purchasing an additional 1,799,030 shares during the period. Charles Schwab Investment Management Inc. increased its position in Dropbox by 3.4% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,990,186 shares of the company’s stock valued at $88,151,000 after purchasing an additional 98,568 shares during the period. Nordea Investment Management AB increased its position in Dropbox by 3.8% during the 4th quarter. Nordea Investment Management AB now owns 2,228,624 shares of the company’s stock valued at $65,934,000 after purchasing an additional 81,729 shares during the period. Finally, DekaBank Deutsche Girozentrale increased its position in Dropbox by 65.8% during the 4th quarter. DekaBank Deutsche Girozentrale now owns 2,189,593 shares of the company’s stock valued at $64,825,000 after purchasing an additional 869,043 shares during the period. Institutional investors own 94.84% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Citigroup cut their target price on shares of Dropbox from $31.00 to $27.00 and set a “neutral” rating on the stock in a research report on Friday, March 22nd. Three equities research analysts have rated the stock with a sell rating, four have issued a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, Dropbox has an average rating of “Hold” and an average target price of $29.78.

Dropbox Trading Down 0.8 %

NASDAQ:DBX opened at $20.76 on Wednesday. Dropbox, Inc. has a twelve month low of $20.70 and a twelve month high of $33.43. The company has a market cap of $6.85 billion, a PE ratio of 13.75, a P/E/G ratio of 1.45 and a beta of 0.68. The company’s 50 day moving average is $22.89 and its two-hundred day moving average is $26.14.

Dropbox (NASDAQ:DBX) last issued its quarterly earnings results on Thursday, May 9th. The company reported $0.41 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.28 by $0.13. Dropbox had a net margin of 20.50% and a negative return on equity of 148.13%. The business had revenue of $631.30 million for the quarter, compared to analyst estimates of $628.81 million. As a group, analysts expect that Dropbox, Inc. will post 1.26 EPS for the current fiscal year.

Insider Buying and Selling at Dropbox

In other Dropbox news, CFO Timothy Regan sold 3,000 shares of the company’s stock in a transaction that occurred on Wednesday, March 27th. The shares were sold at an average price of $24.36, for a total transaction of $73,080.00. Following the transaction, the chief financial officer now owns 400,720 shares in the company, valued at approximately $9,761,539.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, insider Eric Cox sold 8,536 shares of the company’s stock in a transaction on Monday, June 10th. The shares were sold at an average price of $21.27, for a total value of $181,560.72. Following the sale, the insider now directly owns 350,471 shares of the company’s stock, valued at approximately $7,454,518.17. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Timothy Regan sold 3,000 shares of the company’s stock in a transaction on Wednesday, March 27th. The shares were sold at an average price of $24.36, for a total transaction of $73,080.00. Following the completion of the sale, the chief financial officer now directly owns 400,720 shares in the company, valued at $9,761,539.20. The disclosure for this sale can be found here. In the last quarter, insiders have sold 201,218 shares of company stock worth $4,607,699. 26.40% 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.