Quarry LP Has $44,000 Stock Holdings in Dropbox, Inc. (NASDAQ:DBX)

Quarry LP raised its stake in shares of Dropbox, Inc. (NASDAQ:DBX) by 81.1% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,965 shares of the company’s stock after buying an additional 880 shares during the period. Quarry LP’s holdings in Dropbox were worth $44,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Sound Income Strategies LLC bought a new position in Dropbox during the first quarter valued at approximately $28,000. GAMMA Investing LLC lifted its stake in shares of Dropbox by 274.0% in 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 during the last quarter. Fifth Third Bancorp boosted its holdings in Dropbox by 548.8% during the second 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. EntryPoint Capital LLC acquired a new stake in shares of Dropbox in the first quarter valued at about $65,000. Finally, Versant Capital Management Inc bought a new position in shares of Dropbox in the second quarter worth about $72,000. 94.84% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, insider Bart Volkmer sold 7,000 shares of the stock in a transaction that occurred on Monday, July 15th. The stock was sold at an average price of $22.76, for a total transaction of $159,320.00. Following the sale, the insider now directly owns 333,934 shares in the company, valued at $7,600,337.84. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Dropbox news, insider Bart Volkmer sold 7,000 shares of the company’s stock in a transaction on Monday, July 15th. The stock was sold at an average price of $22.76, for a total transaction of $159,320.00. Following the transaction, the insider now owns 333,934 shares of the company’s stock, valued at approximately $7,600,337.84. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Timothy Regan sold 3,000 shares of the business’s stock in a transaction on Monday, July 15th. The stock was sold at an average price of $22.76, for a total value of $68,280.00. Following the sale, the chief financial officer now owns 535,122 shares of the company’s stock, valued at approximately $12,179,376.72. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 464,952 shares of company stock worth $11,642,212. Corporate insiders own 26.40% of the company’s stock.

Dropbox Stock Down 0.6 %

NASDAQ:DBX opened at $25.37 on Friday. The firm has a market capitalization of $8.38 billion, a PE ratio of 16.80, a price-to-earnings-growth ratio of 1.55 and a beta of 0.61. Dropbox, Inc. has a 12-month low of $20.68 and a 12-month high of $33.43. The firm has a 50-day moving average price of $23.93 and a 200 day moving average price of $23.31.

Dropbox (NASDAQ:DBX) last issued its earnings results on Thursday, August 8th. The company reported $0.60 earnings per share (EPS) 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 analysts’ expectations of $630.10 million. Dropbox had a negative return on equity of 161.78% and a net margin of 23.06%. Dropbox’s quarterly revenue was up 1.9% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.28 EPS. On average, research analysts expect that Dropbox, Inc. will post 1.31 EPS for the current year.

Wall Street Analyst Weigh In

DBX has been the topic of several recent analyst reports. Citigroup dropped their price target on Dropbox from $26.00 to $25.00 and set a “neutral” rating on the stock in a research report on Wednesday, June 26th. UBS Group cut their target price on shares of Dropbox from $30.00 to $28.00 and set a “buy” rating for the company in a research note on Friday, August 9th. Two equities 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 stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $28.67.

Dropbox 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.