AlpInvest Partners B.V. lifted its stake in shares of Dropbox Inc (NASDAQ:DBX) by 33.3% in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 25,285 shares of the company’s stock after buying an additional 6,322 shares during the quarter. Dropbox makes up approximately 0.6% of AlpInvest Partners B.V.’s portfolio, making the stock its 24th biggest position. AlpInvest Partners B.V.’s holdings in Dropbox were worth $633,000 at the end of the most recent reporting period.
Several other institutional investors also recently made changes to their positions in DBX. DNB Asset Management AS acquired a new stake in shares of Dropbox during the second quarter valued at $427,000. Spark Investment Management LLC raised its holdings in shares of Dropbox by 14.3% in the 1st quarter. Spark Investment Management LLC now owns 1,512,400 shares of the company’s stock worth $32,970,000 after purchasing an additional 189,000 shares during the period. Icon Wealth Partners LLC purchased a new position in shares of Dropbox in the 1st quarter worth about $82,000. Laurion Capital Management LP purchased a new position in shares of Dropbox in the 1st quarter worth about $3,813,000. Finally, First Trust Advisors LP raised its holdings in shares of Dropbox by 2.7% in the 1st quarter. First Trust Advisors LP now owns 4,016,234 shares of the company’s stock worth $87,554,000 after purchasing an additional 104,439 shares during the period. 40.40% of the stock is owned by institutional investors and hedge funds.
Shares of NASDAQ:DBX opened at $20.02 on Friday. 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 Inc has a one year low of $17.20 and a one year high of $27.35. The business’s 50-day simple moving average is $19.83 and its 200 day simple moving average is $22.45.
Dropbox (NASDAQ:DBX) last announced its earnings results on Thursday, August 8th. The company reported $0.10 EPS for the quarter, beating the consensus estimate of ($0.05) by $0.15. The business had revenue of $401.50 million for the quarter, compared to the consensus estimate of $401.09 million. Dropbox had a negative return on equity of 6.57% and a negative net margin of 2.91%. The company’s revenue was up 18.4% on a year-over-year basis. During the same period last year, the business posted $0.11 EPS. On average, analysts expect that Dropbox Inc will post -0.11 earnings per share for the current year.
In related news, CFO Ajay Vashee sold 13,731 shares of the firm’s stock in a transaction dated Monday, June 24th. The stock was sold at an average price of $25.00, for a total transaction of $343,275.00. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Quentin Clark sold 16,666 shares of Dropbox stock in a transaction that occurred on Monday, June 24th. The stock was sold at an average price of $25.01, for a total value of $416,816.66. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 85,472 shares of company stock worth $1,915,604. Company insiders own 31.20% of the company’s stock.
A number of research firms have recently commented on DBX. William Blair dropped coverage on Dropbox in a report on Friday, August 9th. Sanford C. Bernstein began coverage on Dropbox in a report on Wednesday, August 7th. They issued an “underperform” rating and a $19.00 price objective on the stock. DA Davidson dropped coverage on Dropbox in a report on Friday, August 9th. Zacks Investment Research downgraded Dropbox from a “buy” rating to a “hold” rating in a report on Wednesday, August 14th. Finally, Nomura cut their price objective on Dropbox from $25.00 to $24.00 and set a “neutral” rating on the stock in a report on Friday, August 9th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and five have issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $28.13.
Dropbox Company 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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