Potrero Capital Research LLC Boosts Stock Holdings in Dropbox Inc (NASDAQ:DBX)

Potrero Capital Research LLC lifted its holdings in Dropbox Inc (NASDAQ:DBX) by 0.7% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 410,443 shares of the company’s stock after buying an additional 2,658 shares during the period. Dropbox comprises 5.9% of Potrero Capital Research LLC’s holdings, making the stock its 2nd largest holding. Potrero Capital Research LLC owned approximately 0.09% of Dropbox worth $10,282,000 as of its most recent SEC filing.

Several other institutional investors have also bought and sold shares of DBX. Alberta Investment Management Corp purchased a new position in shares of Dropbox during the 2nd quarter worth about $220,000. AQR Capital Management LLC purchased a new stake in Dropbox in the 2nd quarter valued at about $20,185,000. Man Group plc boosted its position in Dropbox by 31.4% in the 2nd quarter. Man Group plc now owns 333,663 shares of the company’s stock valued at $8,358,000 after buying an additional 79,766 shares during the period. UBS Oconnor LLC boosted its position in Dropbox by 400.0% in the 2nd quarter. UBS Oconnor LLC now owns 500,000 shares of the company’s stock valued at $12,525,000 after buying an additional 400,000 shares during the period. Finally, Algert Global LLC boosted its position in Dropbox by 442.7% in the 2nd quarter. Algert Global LLC now owns 72,545 shares of the company’s stock valued at $1,817,000 after buying an additional 59,177 shares during the period. Hedge funds and other institutional investors own 40.40% of the company’s stock.

Shares of DBX traded down $0.07 during mid-day trading on Friday, hitting $20.96. The company’s stock had a trading volume of 193,176 shares, compared to its average volume of 3,067,990. The company’s 50-day moving average is $19.28 and its 200-day moving average is $22.33. Dropbox Inc has a 52-week low of $17.20 and a 52-week high of $27.35. The firm has a market capitalization of $8.69 billion, a price-to-earnings ratio of -16.00 and a beta of 1.53. The company has a current ratio of 1.18, a quick ratio of 1.18 and a debt-to-equity ratio of 0.99.



Dropbox (NASDAQ:DBX) last announced its quarterly earnings results on Thursday, August 8th. The company reported $0.10 earnings per share for the quarter, topping the consensus estimate of ($0.05) by $0.15. Dropbox had a negative net margin of 2.91% and a negative return on equity of 6.57%. The firm had revenue of $401.50 million during the quarter, compared to analysts’ expectations of $401.09 million. During the same quarter in the prior year, the company earned $0.11 EPS. The company’s revenue was up 18.4% compared to the same quarter last year. As a group, sell-side analysts predict that Dropbox Inc will post -0.12 earnings per share for the current fiscal year.

Several equities research analysts have issued reports on DBX shares. Nomura lowered their price objective on shares of Dropbox from $25.00 to $24.00 and set a “neutral” rating for the company in a research report on Friday, August 9th. Zacks Investment Research cut shares of Dropbox from a “buy” rating to a “hold” rating in a research report on Wednesday, August 14th. Bank of America dropped coverage on shares of Dropbox in a research report on Friday, August 9th. Royal Bank of Canada dropped coverage on shares of Dropbox in a research report on Friday, August 9th. Finally, DA Davidson dropped coverage on shares of Dropbox in a research report on Friday, August 9th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and five have given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target of $28.13.

In related news, insider Timothy Regan sold 4,125 shares of the business’s stock in a transaction that occurred on Wednesday, July 17th. The shares were sold at an average price of $25.60, for a total transaction of $105,600.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Ajay Vashee sold 13,731 shares of the business’s stock in a transaction that occurred 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. Insiders sold a total of 84,472 shares of company stock valued at $1,891,604 in the last ninety days. Corporate insiders own 31.20% of the company’s stock.

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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