Dropbox, Inc. (NASDAQ:DBX) Shares Purchased by Creative Planning

Creative Planning increased its holdings in shares of Dropbox, Inc. (NASDAQ:DBX) by 97.4% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 66,123 shares of the company’s stock after purchasing an additional 32,622 shares during the period. Creative Planning’s holdings in Dropbox were worth $1,682,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in DBX. iA Global Asset Management Inc. raised its stake in shares of Dropbox by 6.5% during the 2nd 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 raised its position in Dropbox by 4.1% during the second quarter. Tobam now owns 19,642 shares of the company’s stock valued at $441,000 after acquiring an additional 767 shares in the last quarter. Retirement Systems of Alabama lifted its holdings in Dropbox by 0.3% in the first quarter. Retirement Systems of Alabama now owns 321,699 shares of the company’s stock valued at $7,817,000 after acquiring an additional 845 shares during the period. Quarry LP boosted its position in Dropbox by 81.1% in the 2nd quarter. Quarry LP now owns 1,965 shares of the company’s stock worth $44,000 after purchasing an additional 880 shares in the last quarter. Finally, GAMMA Investing LLC grew its stake in shares of Dropbox by 274.0% during the 2nd quarter. GAMMA Investing LLC now owns 1,238 shares of the company’s stock worth $28,000 after purchasing an additional 907 shares during the period. 94.84% of the stock is currently owned by institutional investors and hedge funds.

Dropbox Stock Performance

NASDAQ:DBX opened at $25.82 on Wednesday. The stock has a market capitalization of $8.53 billion, a PE ratio of 17.07, a P/E/G ratio of 1.61 and a beta of 0.61. Dropbox, Inc. has a fifty-two week low of $20.68 and a fifty-two week high of $33.43. The company has a fifty day moving average of $24.97 and a two-hundred day moving average of $23.53.

Dropbox (NASDAQ:DBX) last released its quarterly 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. Dropbox had a net margin of 23.06% and a negative return on equity of 161.78%. The firm had revenue of $634.50 million during the quarter, compared to the consensus estimate of $630.10 million. During the same quarter in the prior year, the firm earned $0.28 EPS. The company’s revenue for the quarter was up 1.9% on a year-over-year basis. Research analysts forecast that Dropbox, Inc. will post 1.31 earnings per share for the current year.

Analyst Ratings Changes

Separately, 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 note on Friday, August 9th. Two research 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, Dropbox presently has an average rating of “Hold” and an average price target of $28.67.

Insider Activity at Dropbox

In related news, CFO Timothy Regan sold 2,500 shares of the stock in a transaction that occurred on Friday, September 13th. The stock was sold at an average price of $24.35, for a total value of $60,875.00. Following the completion of the sale, the chief financial officer now owns 485,724 shares of the company’s stock, valued at approximately $11,827,379.40. This trade 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 can be accessed through this link. In other news, CFO Timothy Regan sold 2,500 shares of the business’s stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $24.35, for a total transaction of $60,875.00. Following the transaction, the chief financial officer now owns 485,724 shares of the company’s stock, valued at approximately $11,827,379.40. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, 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 owns 8,266,666 shares of the company’s stock, valued at approximately $206,666,650. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 457,452 shares of company stock valued at $11,480,062. Corporate 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.