Inceptionr LLC Purchases 32,388 Shares of Dropbox, Inc. $DBX

Inceptionr LLC lifted its holdings in Dropbox, Inc. (NASDAQ:DBX) by 155.3% in the first quarter, HoldingsChannel.com reports. The fund owned 53,245 shares of the company’s stock after buying an additional 32,388 shares during the quarter. Inceptionr LLC’s holdings in Dropbox were worth $1,210,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. WealthCollab LLC grew its holdings in Dropbox by 20.6% during the 4th quarter. WealthCollab LLC now owns 2,356 shares of the company’s stock valued at $65,000 after buying an additional 403 shares in the last quarter. Parallel Advisors LLC grew its stake in Dropbox by 8.3% during the fourth quarter. Parallel Advisors LLC now owns 5,765 shares of the company’s stock valued at $160,000 after acquiring an additional 440 shares in the last quarter. Lakewood Asset Management LLC increased its holdings in Dropbox by 1.0% in the 4th quarter. Lakewood Asset Management LLC now owns 44,905 shares of the company’s stock valued at $1,248,000 after acquiring an additional 458 shares during the last quarter. Northwestern Mutual Wealth Management Co. increased its holdings in Dropbox by 1.8% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 26,254 shares of the company’s stock valued at $730,000 after acquiring an additional 466 shares during the last quarter. Finally, Merit Financial Group LLC lifted its stake in Dropbox by 4.4% in the 3rd quarter. Merit Financial Group LLC now owns 11,385 shares of the company’s stock worth $344,000 after purchasing an additional 480 shares in the last quarter. 94.84% of the stock is currently owned by institutional investors.

Dropbox Price Performance

Dropbox stock opened at $28.43 on Friday. The firm has a market capitalization of $6.63 billion, a P/E ratio of 15.54, a price-to-earnings-growth ratio of 3.14 and a beta of 0.66. The company’s 50-day moving average is $27.80 and its 200 day moving average is $26.00. Dropbox, Inc. has a 1-year low of $21.69 and a 1-year high of $32.40.

Dropbox (NASDAQ:DBX) last issued its quarterly earnings results on Thursday, May 7th. The company reported $0.76 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.71 by $0.05. Dropbox had a negative return on equity of 30.01% and a net margin of 18.71%.The firm had revenue of $629.50 million during the quarter, compared to analyst estimates of $620.56 million. During the same period last year, the company earned $0.70 EPS. Dropbox’s quarterly revenue was up .8% compared to the same quarter last year. Research analysts anticipate that Dropbox, Inc. will post 2.09 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms recently commented on DBX. Royal Bank Of Canada reiterated an “outperform” rating on shares of Dropbox in a research report on Monday, June 1st. Weiss Ratings restated a “hold (c)” rating on shares of Dropbox in a research report on Monday, May 4th. Citigroup increased their price objective on shares of Dropbox from $27.00 to $28.00 and gave the company a “neutral” rating in a research report on Monday, May 11th. Finally, Wall Street Zen upgraded shares of Dropbox from a “hold” rating to a “buy” rating in a research report on Sunday, June 28th. One analyst has rated the stock with a Buy rating, three have given a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, Dropbox currently has a consensus rating of “Reduce” and a consensus target price of $27.00.

Insider Activity

In other news, Director Andrew William Moore sold 8,443 shares of the company’s stock in a transaction dated Monday, May 18th. The shares were sold at an average price of $27.57, for a total value of $232,773.51. Following the transaction, the director directly owned 4,737 shares in the company, valued at approximately $130,599.09. This represents a 64.06% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Karen Peacock sold 2,000 shares of the firm’s stock in a transaction dated Tuesday, July 7th. The stock was sold at an average price of $29.00, for a total transaction of $58,000.00. Following the completion of the transaction, the director directly owned 24,366 shares in the company, valued at $706,614. This represents a 7.59% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders sold 129,082 shares of company stock valued at $3,489,910. Insiders own 35.48% of the company’s stock.

Dropbox Profile

Dropbox, Inc (NASDAQ: DBX) is a leading provider of cloud-based file storage, collaboration, and productivity tools. Founded in 2007 and headquartered in San Francisco, California, the company offers a suite of services designed to help individuals and organizations securely store, share, and manage digital content. Dropbox has grown from a simple file-syncing application into an integrated collaboration platform used by millions of customers around the globe.

At its core, Dropbox provides cloud storage plans tailored for consumers and businesses.