Dropbox, Inc. $DBX Shares Sold by Activest Wealth Management

Activest Wealth Management trimmed its holdings in Dropbox, Inc. (NASDAQ:DBX) by 49.3% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 925 shares of the company’s stock after selling 900 shares during the period. Activest Wealth Management’s holdings in Dropbox were worth $26,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. Elequin Capital LP grew its stake in Dropbox by 71.0% in the 1st quarter. Elequin Capital LP now owns 1,130 shares of the company’s stock valued at $30,000 after acquiring an additional 469 shares during the last quarter. Brooklyn Investment Group boosted its stake in shares of Dropbox by 250.3% during the 1st quarter. Brooklyn Investment Group now owns 1,387 shares of the company’s stock worth $37,000 after purchasing an additional 991 shares during the last quarter. SBI Securities Co. Ltd. boosted its stake in shares of Dropbox by 33.4% during the 1st quarter. SBI Securities Co. Ltd. now owns 1,794 shares of the company’s stock worth $48,000 after purchasing an additional 449 shares during the last quarter. Fifth Third Bancorp boosted its stake in shares of Dropbox by 27.3% during the 1st quarter. Fifth Third Bancorp now owns 2,288 shares of the company’s stock worth $61,000 after purchasing an additional 490 shares during the last quarter. Finally, UMB Bank n.a. boosted its stake in shares of Dropbox by 29.7% during the 2nd quarter. UMB Bank n.a. now owns 3,243 shares of the company’s stock worth $93,000 after purchasing an additional 742 shares during the last quarter. 94.84% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, CTO Ali Dasdan sold 12,812 shares of the firm’s stock in a transaction that occurred on Monday, September 8th. The shares were sold at an average price of $30.00, for a total value of $384,360.00. Following the sale, the chief technology officer directly owned 551,060 shares of the company’s stock, valued at approximately $16,531,800. This trade represents a 2.27% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Sarah Elizabeth Schubach sold 1,066 shares of the firm’s stock in a transaction that occurred on Tuesday, September 30th. The stock was sold at an average price of $30.71, for a total transaction of $32,736.86. Following the completion of the sale, the chief accounting officer directly owned 105,723 shares in the company, valued at $3,246,753.33. This represents a 1.00% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 316,066 shares of company stock valued at $9,174,796. 29.95% of the stock is currently owned by corporate insiders.

Dropbox Stock Performance

DBX opened at $28.38 on Friday. The company’s 50 day simple moving average is $29.44 and its 200 day simple moving average is $28.47. Dropbox, Inc. has a 1 year low of $24.42 and a 1 year high of $33.33. The stock has a market capitalization of $7.66 billion, a PE ratio of 17.30, a P/E/G ratio of 3.81 and a beta of 0.67.

Dropbox (NASDAQ:DBX) last released its earnings results on Thursday, August 7th. The company reported $0.71 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.63 by $0.08. Dropbox had a net margin of 19.17% and a negative return on equity of 61.31%. The business had revenue of $625.70 million for the quarter, compared to analysts’ expectations of $618.60 million. During the same period last year, the company earned $0.60 earnings per share. The company’s quarterly revenue was down 1.4% on a year-over-year basis. As a group, sell-side analysts expect that Dropbox, Inc. will post 1.64 earnings per share for the current fiscal year.

Analyst Ratings Changes

DBX has been the topic of several analyst reports. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Dropbox in a research note on Wednesday, October 8th. UBS Group cut shares of Dropbox from a “neutral” rating to a “sell” rating and decreased their price target for the stock from $29.00 to $27.00 in a research note on Thursday, September 18th. Finally, Wall Street Zen cut shares of Dropbox from a “buy” rating to a “hold” rating in a research note on Friday, September 5th. Three analysts have rated the stock with a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Reduce” and an average target price of $29.67.

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.