Xponance Inc. Has $797,000 Stake in Dropbox, Inc. (NASDAQ:DBX)

Xponance Inc. reduced its holdings in Dropbox, Inc. (NASDAQ:DBX) by 47.6% during the 2nd quarter, HoldingsChannel reports. The institutional investor owned 35,458 shares of the company’s stock after selling 32,263 shares during the quarter. Xponance Inc.’s holdings in Dropbox were worth $797,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of DBX. Norges Bank acquired a new position in Dropbox in the fourth quarter valued at about $19,361,000. US Bancorp DE boosted its stake in Dropbox by 67.4% during the 4th quarter. US Bancorp DE now owns 44,194 shares of the company’s stock worth $1,303,000 after acquiring an additional 17,800 shares during the last quarter. Advisory Services Network LLC grew its holdings in Dropbox by 6.2% during the fourth quarter. Advisory Services Network LLC now owns 15,382 shares of the company’s stock valued at $453,000 after purchasing an additional 893 shares during the period. Hsbc Holdings PLC increased its stake in Dropbox by 224.5% in the fourth quarter. Hsbc Holdings PLC now owns 326,241 shares of the company’s stock valued at $9,624,000 after purchasing an additional 225,713 shares in the last quarter. Finally, Parallel Advisors LLC raised its holdings in Dropbox by 7.4% in the fourth quarter. Parallel Advisors LLC now owns 6,642 shares of the company’s stock worth $196,000 after purchasing an additional 459 shares during the period. 94.84% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, CEO Andrew Houston sold 66,064 shares of Dropbox stock in a transaction that occurred on Tuesday, September 24th. The shares were sold at an average price of $25.00, for a total value of $1,651,600.00. Following the sale, the chief executive officer now directly owns 8,266,666 shares in the company, valued at $206,666,650. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, CEO Andrew Houston sold 66,064 shares of the firm’s stock in a transaction dated Tuesday, September 24th. The stock was sold at an average price of $25.00, for a total value of $1,651,600.00. Following the completion of the transaction, the chief executive officer now owns 8,266,666 shares in the company, valued at approximately $206,666,650. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Bart Volkmer sold 7,000 shares of the company’s stock in a transaction dated Monday, July 15th. The stock was sold at an average price of $22.76, for a total value of $159,320.00. Following the sale, the insider now owns 333,934 shares in the company, valued at approximately $7,600,337.84. The disclosure for this sale can be found here. Insiders sold a total of 180,634 shares of company stock valued at $4,243,915 in the last quarter. 26.40% of the stock is currently owned by insiders.

Dropbox Trading Up 1.3 %

DBX opened at $25.31 on Friday. The stock has a market capitalization of $8.36 billion, a P/E ratio of 16.76, a P/E/G ratio of 1.55 and a beta of 0.61. Dropbox, Inc. has a 12 month low of $20.68 and a 12 month high of $33.43. The firm’s fifty day simple moving average is $23.77 and its 200 day simple moving average is $23.27.

Dropbox (NASDAQ:DBX) last issued its quarterly earnings results on Thursday, August 8th. The company reported $0.60 EPS for the quarter, beating analysts’ consensus estimates of $0.52 by $0.08. The company had revenue of $634.50 million for the quarter, compared to analyst estimates of $630.10 million. Dropbox had a negative return on equity of 161.78% and a net margin of 23.06%. The company’s quarterly revenue was up 1.9% compared to the same quarter last year. During the same period in the previous year, the company posted $0.28 earnings per share. On average, equities research analysts predict that Dropbox, Inc. will post 1.31 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

DBX has been the subject of several research 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 lowered their price target on Dropbox from $26.00 to $25.00 and set a “neutral” rating for the company in a report on Wednesday, June 26th. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $28.67.

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.