Dropbox, Inc. $DBX Shares Purchased by Odyssean LLC

Odyssean LLC boosted its holdings in Dropbox, Inc. (NASDAQ:DBX) by 93.3% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 109,738 shares of the company’s stock after buying an additional 52,980 shares during the quarter. Odyssean LLC’s holdings in Dropbox were worth $3,015,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of DBX. Palisade Asset Management LLC acquired a new position in shares of Dropbox during the 3rd quarter worth about $30,000. Kestra Advisory Services LLC purchased a new position in shares of Dropbox in the 4th quarter valued at about $31,000. Larson Financial Group LLC raised its position in shares of Dropbox by 228.0% during the 4th quarter. Larson Financial Group LLC now owns 1,138 shares of the company’s stock worth $32,000 after acquiring an additional 791 shares in the last quarter. Geneos Wealth Management Inc. raised its position in shares of Dropbox by 78.0% during the 2nd quarter. Geneos Wealth Management Inc. now owns 1,273 shares of the company’s stock worth $36,000 after acquiring an additional 558 shares in the last quarter. Finally, Caitong International Asset Management Co. Ltd purchased a new stake in Dropbox during the fourth quarter worth approximately $38,000. 94.84% of the stock is currently owned by institutional investors and hedge funds.

Dropbox Stock Performance

Dropbox stock opened at $34.78 on Wednesday. The company has a market capitalization of $7.85 billion, a P/E ratio of 19.32, a PEG ratio of 5.14 and a beta of 0.64. Dropbox, Inc. has a fifty-two week low of $21.69 and a fifty-two week high of $36.30. The stock has a 50-day simple moving average of $30.71 and a 200-day simple moving average of $27.18.

Dropbox (NASDAQ:DBX) last released its quarterly earnings results on Thursday, August 6th. The company reported $0.75 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.74 by $0.01. The firm had revenue of $631.50 million for the quarter, compared to the consensus estimate of $626.69 million. Dropbox had a negative return on equity of 24.26% and a net margin of 17.49%.The firm’s quarterly revenue was up .9% compared to the same quarter last year. During the same quarter last year, the business posted $0.71 EPS. As a group, analysts forecast that Dropbox, Inc. will post 1.94 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on DBX shares. Citigroup upped their price target on Dropbox from $28.00 to $33.00 and gave the company a “neutral” rating in a report on Friday, August 7th. Weiss Ratings raised shares of Dropbox from a “hold (c)” rating to a “hold (c+)” rating in a report on Thursday, August 13th. Zacks Research downgraded shares of Dropbox from a “hold” rating to a “strong sell” rating in a research report on Wednesday, August 19th. William Blair upgraded shares of Dropbox from an “underperform” rating to a “market perform” rating in a report on Friday, August 7th. Finally, Wall Street Zen downgraded shares of Dropbox from a “buy” rating to a “hold” rating in a research report on Saturday, August 8th. One equities research analyst has rated the stock with a Buy rating, four have assigned a Hold rating and three have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Reduce” and an average target price of $28.25.

Insiders Place Their Bets

In other news, CEO Ashraf Alkarmi sold 22,700 shares of Dropbox stock in a transaction on Tuesday, June 2nd. The shares were sold at an average price of $27.86, for a total value of $632,422.00. Following the transaction, the chief executive officer directly owned 1,080,746 shares of the company’s stock, valued at $30,109,583.56. The trade was a 2.06% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Karen Peacock sold 2,000 shares of the company’s stock in a transaction on Wednesday, July 29th. The shares were sold at an average price of $33.00, for a total transaction of $66,000.00. Following the completion of the sale, the director owned 22,366 shares of the company’s stock, valued at approximately $738,078. This trade represents a 8.21% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders sold 61,041 shares of company stock valued at $1,896,492. 35.48% of the stock is owned by insiders.

About Dropbox

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.