Edgestream Partners L.P. Has $632,000 Stock Position in Dropbox, Inc. (NASDAQ:DBX)

Edgestream Partners L.P. lessened its holdings in Dropbox, Inc. (NASDAQ:DBX) by 71.3% during the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 28,140 shares of the company’s stock after selling 70,063 shares during the quarter. Edgestream Partners L.P.’s holdings in Dropbox were worth $632,000 as of its most recent SEC filing.

A number of other large investors have also recently modified their holdings of DBX. Principal Securities Inc. bought a new stake in shares of Dropbox during the 4th quarter valued at approximately $34,000. Sound Income Strategies LLC bought a new stake in shares of Dropbox during the first quarter worth $28,000. GAMMA Investing LLC increased its holdings in shares of Dropbox by 274.0% during the second quarter. GAMMA Investing LLC now owns 1,238 shares of the company’s stock worth $28,000 after buying an additional 907 shares in the last quarter. Fifth Third Bancorp lifted its stake in shares of 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 last quarter. Finally, Quarry LP acquired a new stake in shares of Dropbox during the 4th quarter valued at $64,000. Institutional investors and hedge funds own 94.84% of the company’s stock.

Dropbox Stock Performance

NASDAQ:DBX opened at $24.70 on Monday. The company has a market capitalization of $8.16 billion, a PE ratio of 16.36, a P/E/G ratio of 1.51 and a beta of 0.61. The company has a 50 day simple moving average of $23.58 and a two-hundred day simple moving average of $23.22. Dropbox, Inc. has a fifty-two week low of $20.68 and a fifty-two week high of $33.43.

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

Insider Buying and Selling

In other news, CFO Timothy Regan sold 13,000 shares of the company’s stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $22.33, for a total transaction of $290,290.00. Following the transaction, the chief financial officer now owns 538,122 shares in the company, valued at $12,016,264.26. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, CFO Timothy Regan sold 13,000 shares of the business’s stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $22.33, for a total transaction of $290,290.00. Following the completion of the sale, the chief financial officer now owns 538,122 shares in the company, valued at $12,016,264.26. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Andrew Houston sold 82,000 shares of the stock in a transaction on Monday, July 1st. The stock was sold at an average price of $22.40, for a total value of $1,836,800.00. Following the completion of the transaction, the chief executive officer now owns 8,266,666 shares in the company, valued at $185,173,318.40. The disclosure for this sale can be found here. Insiders have sold a total of 107,900 shares of company stock valued at $2,425,565 over the last ninety days. 26.40% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several equities analysts have commented on the company. Citigroup dropped their target price on Dropbox from $26.00 to $25.00 and set a “neutral” rating for the company in a research report on Wednesday, June 26th. UBS Group dropped their price objective on shares of Dropbox from $30.00 to $28.00 and set a “buy” rating for the company in a report on Friday, August 9th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $28.67.

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.