Seeyond Makes New Investment in Dropbox Inc (NASDAQ:DBX)

Seeyond purchased a new position in shares of Dropbox Inc (NASDAQ:DBX) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 4,668 shares of the company’s stock, valued at approximately $117,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Tortoise Index Solutions LLC acquired a new stake in shares of Dropbox during the 1st quarter valued at about $29,000. Meridian Wealth Management LLC acquired a new stake in shares of Dropbox during the 2nd quarter valued at about $34,000. Glen Harbor Capital Management LLC grew its position in shares of Dropbox by 203.0% during the 2nd quarter. Glen Harbor Capital Management LLC now owns 1,600 shares of the company’s stock valued at $40,000 after acquiring an additional 1,072 shares during the period. Livforsakringsbolaget Skandia Omsesidigt acquired a new stake in shares of Dropbox during the 2nd quarter valued at about $55,000. Finally, Tyers Asset Management LLC grew its position in shares of Dropbox by 203.0% during the 2nd quarter. Tyers Asset Management LLC now owns 2,200 shares of the company’s stock valued at $55,000 after acquiring an additional 1,474 shares during the period. 40.40% of the stock is currently owned by institutional investors.

NASDAQ DBX traded up $0.13 on Monday, reaching $20.19. The stock had a trading volume of 70,781 shares, compared to its average volume of 2,924,262. The firm has a market capitalization of $8.29 billion, a price-to-earnings ratio of -15.43 and a beta of 1.53. The company has a quick ratio of 1.18, a current ratio of 1.18 and a debt-to-equity ratio of 0.99. Dropbox Inc has a 12-month low of $17.20 and a 12-month high of $27.35. The stock has a fifty day moving average price of $19.74 and a two-hundred day moving average price of $22.43.



Dropbox (NASDAQ:DBX) last announced its earnings results on Thursday, August 8th. The company reported $0.10 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.05) by $0.15. The company had revenue of $401.50 million for the quarter, compared to analyst estimates of $401.09 million. Dropbox had a negative return on equity of 6.57% and a negative net margin of 2.91%. The firm’s quarterly revenue was up 18.4% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.11 earnings per share. Sell-side analysts forecast that Dropbox Inc will post -0.11 earnings per share for the current fiscal year.

DBX has been the topic of a number of analyst reports. TheStreet cut Dropbox from a “c-” rating to a “d+” rating in a research report on Friday, August 9th. William Blair dropped coverage on Dropbox in a research report on Friday, August 9th. Bank of America dropped coverage on Dropbox in a report on Friday, August 9th. Zacks Investment Research cut Dropbox from a “buy” rating to a “hold” rating in a report on Wednesday, August 14th. Finally, Royal Bank of Canada dropped coverage on Dropbox in a report on Friday, August 9th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and five have issued a buy rating to the stock. Dropbox has an average rating of “Hold” and an average target price of $28.13.

In related news, CTO Quentin Clark sold 8,333 shares of the business’s stock in a transaction on Friday, September 6th. The shares were sold at an average price of $19.00, for a total transaction of $158,327.00. Also, CFO Ajay Vashee sold 13,731 shares of the business’s stock in a transaction on Monday, June 24th. The stock was sold at an average price of $25.00, for a total transaction of $343,275.00. The disclosure for this sale can be found here. In the last three months, insiders sold 85,472 shares of company stock worth $1,915,604. 31.20% of the stock is owned by corporate insiders.

Dropbox Profile

Dropbox, Inc provides a collaboration platform worldwide. Its platform allows individuals, 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. The company has approximately 500 million registered users across 180 countries.

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Institutional Ownership by Quarter for Dropbox (NASDAQ:DBX)

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