636,017 Shares in Dropbox, Inc. (NASDAQ:DBX) Bought by Distillate Capital Partners LLC

Distillate Capital Partners LLC bought a new stake in Dropbox, Inc. (NASDAQ:DBX) during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund bought 636,017 shares of the company’s stock, valued at approximately $14,291,000. Distillate Capital Partners LLC owned about 0.19% of Dropbox at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Sound Income Strategies LLC purchased a new position in shares of Dropbox in the 1st quarter worth approximately $28,000. GAMMA Investing LLC lifted its holdings in shares of Dropbox by 274.0% during the 2nd quarter. GAMMA Investing LLC now owns 1,238 shares of the company’s stock valued at $28,000 after purchasing an additional 907 shares during the last quarter. Fifth Third Bancorp boosted its position in shares of Dropbox by 548.8% in the 2nd quarter. Fifth Third Bancorp now owns 1,382 shares of the company’s stock worth $31,000 after purchasing an additional 1,169 shares in the last quarter. Principal Securities Inc. purchased a new position in Dropbox during the 4th quarter worth $34,000. Finally, Quarry LP acquired a new position in Dropbox during the 4th quarter valued at about $64,000. Hedge funds and other institutional investors own 94.84% of the company’s stock.

Dropbox Stock Up 0.4 %

Shares of NASDAQ:DBX opened at $24.79 on Tuesday. The business has a 50-day moving average price of $23.62 and a 200-day moving average price of $23.23. The stock has a market cap of $8.19 billion, a price-to-earnings ratio of 16.42, a PEG ratio of 1.51 and a beta of 0.61. Dropbox, Inc. has a 52-week low of $20.68 and a 52-week high of $33.43.

Dropbox (NASDAQ:DBX) last announced 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. The business had revenue of $634.50 million during the quarter, compared to analysts’ expectations of $630.10 million. Dropbox had a net margin of 23.06% and a negative return on equity of 161.78%. The business’s quarterly revenue was up 1.9% compared to the same quarter last year. During the same period in the previous year, the business posted $0.28 EPS. As a group, equities analysts anticipate that Dropbox, Inc. will post 1.31 EPS for the current fiscal year.

Insider Buying and Selling at Dropbox

In other news, CFO Timothy Regan sold 13,000 shares of the business’s stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $22.33, for a total value of $290,290.00. Following the completion of the transaction, the chief financial officer now owns 538,122 shares of the company’s stock, valued at approximately $12,016,264.26. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, CFO Timothy Regan sold 13,000 shares of the firm’s stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $22.33, for a total transaction of $290,290.00. Following the sale, the chief financial officer now owns 538,122 shares of the company’s stock, valued at approximately $12,016,264.26. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Andrew Houston sold 82,000 shares of the business’s stock in a transaction on Monday, July 1st. The shares were sold at an average price of $22.40, for a total transaction of $1,836,800.00. Following the completion of the transaction, the chief executive officer now owns 8,266,666 shares of the company’s stock, valued at $185,173,318.40. The disclosure for this sale can be found here. Over the last three months, insiders have sold 114,570 shares of company stock valued at $2,592,315. 26.40% of the stock is owned by insiders.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the company. Citigroup dropped their price target on Dropbox from $26.00 to $25.00 and set a “neutral” rating on the stock in a research note 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 for the company in a research note on Friday, August 9th. Two analysts have rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, Dropbox presently has a consensus rating of “Hold” and a consensus price target of $28.67.

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.