Y Intercept Hong Kong Ltd Purchases 58,263 Shares of Dropbox, Inc. $DBX

Y Intercept Hong Kong Ltd boosted its stake in shares of Dropbox, Inc. (NASDAQ:DBX) by 118.7% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 107,364 shares of the company’s stock after purchasing an additional 58,263 shares during the period. Y Intercept Hong Kong Ltd’s holdings in Dropbox were worth $3,243,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of the business. Neo Ivy Capital Management bought a new position in shares of Dropbox during the second quarter worth $30,000. First Horizon Corp bought a new stake in Dropbox in the third quarter worth about $31,000. Geneos Wealth Management Inc. grew its position in Dropbox by 78.0% in the 2nd quarter. Geneos Wealth Management Inc. now owns 1,273 shares of the company’s stock valued at $36,000 after acquiring an additional 558 shares during the last quarter. Cullen Frost Bankers Inc. purchased a new stake in Dropbox in the 2nd quarter valued at about $41,000. Finally, SJS Investment Consulting Inc. increased its holdings in Dropbox by 6,319.0% during the 3rd quarter. SJS Investment Consulting Inc. now owns 1,348 shares of the company’s stock worth $41,000 after purchasing an additional 1,327 shares during the period. Institutional investors own 94.84% of the company’s stock.

Insider Buying and Selling

In other news, CAO Sarah Elizabeth Schubach sold 1,168 shares of the business’s stock in a transaction that occurred on Thursday, January 15th. The stock was sold at an average price of $26.84, for a total transaction of $31,349.12. Following the completion of the transaction, the chief accounting officer directly owned 92,702 shares in the company, valued at approximately $2,488,121.68. The trade was a 1.24% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Andrew Houston sold 23,818 shares of the company’s stock in a transaction dated Monday, January 12th. The shares were sold at an average price of $27.51, for a total transaction of $655,233.18. The disclosure for this sale is available in the SEC filing. Insiders sold 406,620 shares of company stock valued at $11,703,370 over the last three months. Corporate insiders own 28.59% of the company’s stock.

Dropbox Stock Up 1.6%

Dropbox stock opened at $26.71 on Tuesday. The firm has a market capitalization of $6.91 billion, a PE ratio of 15.09, a P/E/G ratio of 2.15 and a beta of 0.62. Dropbox, Inc. has a 52 week low of $24.42 and a 52 week high of $33.33. The firm’s 50-day simple moving average is $28.06 and its 200 day simple moving average is $28.65.

Dropbox (NASDAQ:DBX) last issued its quarterly earnings results on Thursday, November 6th. The company reported $0.74 earnings per share for the quarter, topping analysts’ consensus estimates of $0.64 by $0.10. The company had revenue of $634.40 million for the quarter, compared to analyst estimates of $623.59 million. Dropbox had a negative return on equity of 49.51% and a net margin of 19.87%.The business’s revenue for the quarter was down .7% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.60 EPS. On average, research analysts expect that Dropbox, Inc. will post 1.64 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the company. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Dropbox in a research report on Wednesday, January 21st. Wall Street Zen lowered Dropbox from a “buy” rating to a “hold” rating in a research note on Friday. Finally, Royal Bank Of Canada reduced their price target on shares of Dropbox from $38.00 to $35.00 and set an “outperform” rating on the stock in a research report on Monday, January 5th. One analyst has rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $31.33.

Dropbox Company 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.