GAMMA Investing LLC Raises Stock Holdings in Dropbox, Inc. (NASDAQ:DBX)

GAMMA Investing LLC lifted its holdings in shares of Dropbox, Inc. (NASDAQ:DBX) by 133.3% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,888 shares of the company’s stock after acquiring an additional 1,650 shares during the period. GAMMA Investing LLC’s holdings in Dropbox were worth $73,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of DBX. Sound Income Strategies LLC purchased a new position in Dropbox during the 1st quarter worth $28,000. Fifth Third Bancorp increased its position 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. Quarry LP raised its stake in Dropbox by 81.1% during the 2nd quarter. Quarry LP now owns 1,965 shares of the company’s stock valued at $44,000 after acquiring an additional 880 shares during the last quarter. EntryPoint Capital LLC acquired a new stake in Dropbox during the 1st quarter worth approximately $65,000. Finally, Versant Capital Management Inc acquired a new position in shares of Dropbox in the second quarter valued at approximately $72,000. 94.84% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, CEO Andrew Houston sold 351,306 shares of Dropbox stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $25.12, for a total transaction of $8,824,806.72. Following the completion of the transaction, the chief executive officer now owns 8,266,666 shares of the company’s stock, valued at $207,658,649.92. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In other news, CEO Andrew Houston sold 351,306 shares of the stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $25.12, for a total value of $8,824,806.72. Following the sale, the chief executive officer now directly owns 8,266,666 shares in the company, valued at $207,658,649.92. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Timothy Regan sold 3,177 shares of the company’s stock in a transaction that occurred on Thursday, September 19th. The shares were sold at an average price of $25.00, for a total value of $79,425.00. Following the completion of the sale, the chief financial officer now directly owns 481,747 shares in the company, valued at approximately $12,043,675. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 454,952 shares of company stock worth $11,414,612. 26.40% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on DBX shares. Citigroup lowered their price objective on shares of 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 lowered their target price on shares of Dropbox from $30.00 to $28.00 and set a “buy” rating on the stock in a report on Friday, August 9th. Two analysts have rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat, Dropbox presently has an average rating of “Hold” and a consensus target price of $28.67.

Dropbox Stock Performance

Dropbox stock opened at $26.27 on Wednesday. The company has a market cap of $8.67 billion, a P/E ratio of 17.40, a price-to-earnings-growth ratio of 1.61 and a beta of 0.61. Dropbox, Inc. has a one year low of $20.68 and a one year high of $33.43. The business has a fifty day moving average of $24.32 and a two-hundred day moving average of $23.37.

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

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.