65,458 Shares in Dropbox, Inc. (NASDAQ:DBX) Acquired by WINTON GROUP Ltd

WINTON GROUP Ltd bought a new stake in Dropbox, Inc. (NASDAQ:DBX) in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 65,458 shares of the company’s stock, valued at approximately $1,471,000.

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

Dropbox Price Performance

Shares of DBX stock opened at $24.59 on Monday. The stock’s fifty day simple moving average is $23.34 and its 200 day simple moving average is $23.20. Dropbox, Inc. has a one year low of $20.68 and a one year high of $33.43. The firm has a market cap of $8.00 billion, a price-to-earnings ratio of 16.28, a P/E/G ratio of 1.51 and a beta of 0.61.

Dropbox (NASDAQ:DBX) last issued its earnings results on Thursday, August 8th. The company reported $0.60 EPS for the quarter, beating the consensus estimate of $0.52 by $0.08. The company had revenue of $634.50 million for 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%. The firm’s revenue for the quarter was up 1.9% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.28 EPS. On average, research analysts anticipate that Dropbox, Inc. will post 1.31 earnings per share for the current year.

Wall Street Analyst Weigh In

DBX has been the subject of a number of recent analyst reports. UBS Group decreased their price target on shares of Dropbox from $30.00 to $28.00 and set a “buy” rating for the company in a report on Friday, August 9th. Citigroup decreased their target price on Dropbox from $26.00 to $25.00 and set a “neutral” rating for the company in a research note on Wednesday, June 26th. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $28.67.

Insider Buying and Selling

In other Dropbox news, CEO Andrew Houston sold 82,000 shares of the firm’s stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $22.40, for a total value of $1,836,800.00. Following the completion of the sale, the chief executive officer now owns 8,266,666 shares in the company, valued at approximately $185,173,318.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, CFO Timothy Regan sold 13,000 shares of the firm’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 transaction, the chief financial officer now owns 538,122 shares in the company, valued at $12,016,264.26. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Andrew Houston sold 82,000 shares of the business’s stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $22.40, for a total value of $1,836,800.00. Following the sale, the chief executive officer now directly 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. Insiders have sold a total of 105,000 shares of company stock worth $2,354,690 in the last 90 days. Corporate insiders own 26.40% of the company’s stock.

Dropbox Profile

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.