Diametric Capital LP Purchases Shares of 10,420 Dropbox, Inc. (NASDAQ:DBX)

Diametric Capital LP purchased a new position in shares of Dropbox, Inc. (NASDAQ:DBX) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 10,420 shares of the company’s stock, valued at approximately $313,000.

Other institutional investors have also modified their holdings of the company. EverSource Wealth Advisors LLC grew its holdings in Dropbox by 96.1% during the fourth quarter. EverSource Wealth Advisors LLC now owns 865 shares of the company’s stock worth $26,000 after acquiring an additional 424 shares during the period. Avion Wealth lifted its holdings in Dropbox by 4,472.7% in the fourth quarter. Avion Wealth now owns 1,006 shares of the company’s stock valued at $30,000 after acquiring an additional 984 shares during the period. SBI Securities Co. Ltd. purchased a new stake in Dropbox in the 4th quarter worth approximately $40,000. Allworth Financial LP grew its stake in shares of Dropbox by 33.5% during the 4th quarter. Allworth Financial LP now owns 1,456 shares of the company’s stock worth $45,000 after purchasing an additional 365 shares during the period. Finally, V Square Quantitative Management LLC increased its holdings in shares of Dropbox by 39.0% during the 4th quarter. V Square Quantitative Management LLC now owns 1,717 shares of the company’s stock valued at $52,000 after purchasing an additional 482 shares in the last quarter. Hedge funds and other institutional investors own 94.84% of the company’s stock.

Insider Buying and Selling at Dropbox

In related news, CFO Timothy Regan sold 2,500 shares of the company’s stock in a transaction dated Friday, March 28th. The shares were sold at an average price of $26.57, for a total transaction of $66,425.00. Following the completion of the sale, the chief financial officer now owns 367,791 shares of the company’s stock, valued at approximately $9,772,206.87. This represents a 0.68 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Eric Cox sold 3,765 shares of the firm’s stock in a transaction that occurred on Thursday, February 27th. The stock was sold at an average price of $26.30, for a total transaction of $99,019.50. Following the completion of the transaction, the insider now directly owns 309,550 shares in the company, valued at $8,141,165. This trade represents a 1.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 634,504 shares of company stock valued at $18,926,005 over the last quarter. 28.59% of the stock is currently owned by insiders.

Dropbox Stock Performance

Shares of NASDAQ DBX opened at $27.18 on Wednesday. The firm has a fifty day moving average of $28.87 and a 200 day moving average of $28.13. The firm has a market cap of $8.20 billion, a PE ratio of 19.28, a PEG ratio of 1.70 and a beta of 0.77. Dropbox, Inc. has a one year low of $20.68 and a one year high of $33.33.

Dropbox (NASDAQ:DBX) last released its earnings results on Thursday, February 20th. The company reported $0.51 EPS for the quarter, missing analysts’ consensus estimates of $0.62 by ($0.11). The company had revenue of $643.60 million for the quarter, compared to analysts’ expectations of $638.61 million. Dropbox had a negative return on equity of 132.63% and a net margin of 17.75%. On average, equities analysts predict that Dropbox, Inc. will post 1.64 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Separately, Jefferies Financial Group increased their target price on shares of Dropbox from $27.00 to $30.00 and gave the stock a “hold” rating in a research note on Monday, January 6th.

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.