Blue Trust Inc. Raises Stock Position in Dropbox, Inc. (NASDAQ:DBX)

Blue Trust Inc. boosted its stake in Dropbox, Inc. (NASDAQ:DBX) by 383.4% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 2,934 shares of the company’s stock after purchasing an additional 2,327 shares during the period. Blue Trust Inc.’s holdings in Dropbox were worth $75,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the stock. Vanguard Group Inc. lifted its stake in shares of Dropbox by 0.4% in the 1st quarter. Vanguard Group Inc. now owns 27,379,532 shares of the company’s stock worth $665,323,000 after purchasing an additional 105,250 shares during the period. Susquehanna Fundamental Investments LLC purchased a new position in shares of Dropbox during the 1st quarter worth $4,900,000. Lakewood Asset Management LLC purchased a new position in shares of Dropbox during the 2nd quarter worth $797,000. Janus Henderson Group PLC grew its position in shares of Dropbox by 16.4% during the 1st quarter. Janus Henderson Group PLC now owns 1,619,231 shares of the company’s stock valued at $39,340,000 after acquiring an additional 228,316 shares during the period. Finally, Mitsubishi UFJ Asset Management Co. Ltd. increased its stake in shares of Dropbox by 32.8% in the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 154,260 shares of the company’s stock worth $3,749,000 after purchasing an additional 38,131 shares in the last quarter. 94.84% of the stock is currently owned by hedge funds and other institutional investors.

Dropbox Price Performance

Shares of NASDAQ DBX opened at $26.17 on Thursday. The stock has a market cap of $8.64 billion, a PE ratio of 17.33, a price-to-earnings-growth ratio of 1.61 and a beta of 0.61. Dropbox, Inc. has a 1 year low of $20.68 and a 1 year high of $33.43. The firm has a fifty day moving average price of $25.01 and a 200-day moving average price of $23.55.

Dropbox (NASDAQ:DBX) last issued its earnings results on Thursday, August 8th. The company reported $0.60 earnings per share for the quarter, topping the consensus estimate of $0.52 by $0.08. The company had revenue of $634.50 million during 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%. Dropbox’s quarterly revenue was up 1.9% compared to the same quarter last year. During the same quarter 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

Separately, UBS Group lowered their target price on Dropbox from $30.00 to $28.00 and set a “buy” rating on the stock in a research report on Friday, August 9th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $28.67.

Insider Transactions at Dropbox

In related news, CFO Timothy Regan sold 3,177 shares of Dropbox stock in a transaction that occurred on Thursday, September 19th. The stock was sold at an average price of $25.00, for a total transaction of $79,425.00. Following the sale, the chief financial officer now owns 481,747 shares of the company’s stock, valued at approximately $12,043,675. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, CFO Timothy Regan sold 3,177 shares of the company’s stock in a transaction on Thursday, September 19th. The shares were sold at an average price of $25.00, for a total transaction of $79,425.00. Following the completion of the transaction, the chief financial officer now owns 481,747 shares in the company, valued at approximately $12,043,675. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Andrew Houston sold 351,306 shares of Dropbox stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $25.12, for a total transaction of $8,824,806.72. Following the completion of the sale, the chief executive officer now owns 8,266,666 shares in the company, valued at approximately $207,658,649.92. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 457,452 shares of company stock valued at $11,480,062 over the last 90 days. Company insiders own 26.40% of the company’s stock.

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.