3Chopt Investment Partners LLC Increases Holdings in Dropbox, Inc. (NASDAQ:DBX)

3Chopt Investment Partners LLC boosted its position in shares of Dropbox, Inc. (NASDAQ:DBX) by 15.9% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 113,771 shares of the company’s stock after purchasing an additional 15,576 shares during the quarter. 3Chopt Investment Partners LLC’s holdings in Dropbox were worth $2,556,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also bought and sold shares of the company. Parallel Advisors LLC boosted its position in Dropbox by 7.4% during the 4th quarter. Parallel Advisors LLC now owns 6,642 shares of the company’s stock valued at $196,000 after acquiring an additional 459 shares in the last quarter. Cooper Financial Group raised its holdings in Dropbox by 3.1% in the first quarter. Cooper Financial Group now owns 15,581 shares of the company’s stock worth $379,000 after purchasing an additional 462 shares in the last quarter. iA Global Asset Management Inc. lifted its position in shares of Dropbox by 6.5% during the second quarter. iA Global Asset Management Inc. now owns 9,725 shares of the company’s stock valued at $219,000 after buying an additional 597 shares during the last quarter. Tobam lifted its position in shares of Dropbox by 4.1% during the second quarter. Tobam now owns 19,642 shares of the company’s stock valued at $441,000 after buying an additional 767 shares during the last quarter. Finally, Retirement Systems of Alabama boosted its holdings in shares of Dropbox by 0.3% in the 1st quarter. Retirement Systems of Alabama now owns 321,699 shares of the company’s stock valued at $7,817,000 after buying an additional 845 shares in the last quarter. 94.84% of the stock is owned by institutional investors.

Analyst Ratings Changes

DBX has been the subject of a number of analyst reports. UBS Group decreased their target price on shares of Dropbox from $30.00 to $28.00 and set a “buy” rating for the company in a research report on Friday, August 9th. Citigroup decreased their price objective on Dropbox from $26.00 to $25.00 and set a “neutral” rating for the company in a report on Wednesday, June 26th. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and two have issued 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 target price of $28.67.

Dropbox Stock Up 0.5 %

Dropbox stock opened at $25.43 on Tuesday. Dropbox, Inc. has a 52 week low of $20.68 and a 52 week high of $33.43. The stock has a 50-day moving average price of $23.77 and a 200 day moving average price of $23.26. The company has a market capitalization of $8.40 billion, a price-to-earnings ratio of 16.84, a price-to-earnings-growth ratio of 1.55 and a beta of 0.61.

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

Insider Activity

In related news, CEO Andrew Houston sold 3,493 shares of the firm’s stock in a transaction dated Thursday, September 19th. The stock was sold at an average price of $25.00, for a total transaction of $87,325.00. Following the sale, the chief executive officer now directly owns 8,266,666 shares of the company’s stock, valued at $206,666,650. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In related news, CEO Andrew Houston sold 3,493 shares of the stock in a transaction on Thursday, September 19th. The shares were sold at an average price of $25.00, for a total transaction of $87,325.00. Following the sale, the chief executive officer now directly owns 8,266,666 shares of the company’s stock, valued at $206,666,650. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Bart Volkmer sold 7,000 shares of Dropbox stock in a transaction on Monday, July 15th. The shares were sold at an average price of $22.76, for a total transaction of $159,320.00. Following the completion of the transaction, the insider now directly owns 333,934 shares of the company’s stock, valued at approximately $7,600,337.84. The disclosure for this sale can be found here. Insiders sold a total of 113,646 shares of company stock valued at $2,817,405 in the last quarter. 26.40% of the stock is currently owned by company insiders.

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.