Resonant Capital Advisors LLC Acquires 1,241 Shares of Dropbox, Inc. (NASDAQ:DBX)

Resonant Capital Advisors LLC boosted its holdings in shares of Dropbox, Inc. (NASDAQ:DBX) by 13.0% in the third quarter, Holdings Channel reports. The firm owned 10,799 shares of the company’s stock after purchasing an additional 1,241 shares during the quarter. Resonant Capital Advisors LLC’s holdings in Dropbox were worth $275,000 at the end of the most recent reporting period.

Other institutional investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its holdings in shares of Dropbox by 0.4% in the 1st quarter. Vanguard Group Inc. now owns 27,379,532 shares of the company’s stock worth $665,323,000 after buying an additional 105,250 shares in the last quarter. Susquehanna Fundamental Investments LLC acquired a new position in Dropbox during the first quarter worth $4,900,000. Lakewood Asset Management LLC bought a new position in shares of Dropbox during the second quarter valued at $797,000. Janus Henderson Group PLC lifted its holdings in shares of Dropbox by 16.4% during the first quarter. Janus Henderson Group PLC now owns 1,619,231 shares of the company’s stock valued at $39,340,000 after acquiring an additional 228,316 shares during the period. Finally, Mitsubishi UFJ Asset Management Co. Ltd. boosted its stake in shares of Dropbox by 32.8% in the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 154,260 shares of the company’s stock valued at $3,749,000 after purchasing an additional 38,131 shares in the last quarter. 94.84% of the stock is owned by institutional investors and hedge funds.

Dropbox Stock Up 0.4 %

Shares of NASDAQ:DBX opened at $26.47 on Monday. The firm has a market cap of $8.74 billion, a P/E ratio of 17.53, a P/E/G ratio of 1.61 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 company’s 50-day moving average price is $24.58 and its two-hundred day moving average price is $23.42.

Dropbox (NASDAQ:DBX) last released its quarterly 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 business had revenue of $634.50 million for the quarter, compared to analysts’ expectations of $630.10 million. Dropbox had a net margin of 23.06% and a negative return on equity of 161.78%. Dropbox’s revenue was up 1.9% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.28 earnings per share. As a group, equities analysts predict that Dropbox, Inc. will post 1.31 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on DBX shares. UBS Group cut 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 cut their target price on shares of Dropbox from $26.00 to $25.00 and set a “neutral” rating for the company in a research note on Wednesday, June 26th. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Dropbox presently has a consensus rating of “Hold” and an average target price of $28.67.

Insider Buying and Selling at Dropbox

In other news, CEO Andrew Houston sold 3,493 shares of the business’s stock in a transaction on Thursday, September 19th. The stock was sold at an average price of $25.00, for a total transaction of $87,325.00. Following the completion of the sale, the chief executive officer now owns 8,266,666 shares in the company, valued at $206,666,650. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In related news, CFO Timothy Regan sold 2,500 shares of the stock in a transaction that occurred on Tuesday, October 15th. The shares were sold at an average price of $26.18, for a total value of $65,450.00. Following the transaction, the chief financial officer now directly owns 466,747 shares in the company, valued at $12,219,436.46. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Andrew Houston sold 3,493 shares of the firm’s stock in a transaction that occurred on Thursday, September 19th. The shares were sold at an average price of $25.00, for a total transaction of $87,325.00. Following the completion of the transaction, the chief executive officer now directly owns 8,266,666 shares in the company, valued at approximately $206,666,650. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 457,452 shares of company stock worth $11,480,062. Insiders own 26.40% of the company’s stock.

Dropbox Company 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.