Gotham Asset Management LLC Has $32.72 Million Stock Position in Dropbox, Inc. $DBX

Gotham Asset Management LLC increased its stake in Dropbox, Inc. (NASDAQ:DBX) by 64.1% during the third quarter, HoldingsChannel reports. The firm owned 1,082,916 shares of the company’s stock after acquiring an additional 422,934 shares during the period. Gotham Asset Management LLC’s holdings in Dropbox were worth $32,715,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of DBX. Rossby Financial LCC lifted its stake in Dropbox by 128.5% during the third quarter. Rossby Financial LCC now owns 937 shares of the company’s stock valued at $28,000 after buying an additional 527 shares in the last quarter. First Horizon Corp purchased a new position in shares of Dropbox in the third quarter worth approximately $31,000. Neo Ivy Capital Management acquired a new stake in shares of Dropbox during the second quarter valued at approximately $30,000. LRI Investments LLC raised its holdings in shares of Dropbox by 666.7% during the third quarter. LRI Investments LLC now owns 1,150 shares of the company’s stock valued at $35,000 after acquiring an additional 1,000 shares during the period. Finally, Geneos Wealth Management Inc. lifted its position in shares of 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 in the last quarter. Institutional investors and hedge funds own 94.84% of the company’s stock.

Dropbox Stock Down 0.8%

DBX stock opened at $25.54 on Tuesday. The company has a 50 day moving average of $25.71 and a two-hundred day moving average of $28.11. The company has a market cap of $6.16 billion, a price-to-earnings ratio of 13.73, a PEG ratio of 1.82 and a beta of 0.63. Dropbox, Inc. has a 12-month low of $23.63 and a 12-month high of $32.40.

Dropbox (NASDAQ:DBX) last posted its quarterly earnings results on Thursday, February 19th. The company reported $0.68 EPS for the quarter, beating the consensus estimate of $0.66 by $0.02. Dropbox had a net margin of 20.17% and a negative return on equity of 37.47%. The business had revenue of $636.20 million for the quarter, compared to analysts’ expectations of $627.83 million. During the same period in the previous year, the company posted $0.73 EPS. Dropbox’s revenue was down 1.1% on a year-over-year basis. On average, research analysts anticipate that Dropbox, Inc. will post 1.64 EPS for the current year.

Wall Street Analyst Weigh In

A number of research firms recently commented on DBX. Royal Bank Of Canada decreased their price objective on shares of Dropbox from $35.00 to $30.00 and set an “outperform” rating for the company in a research note on Friday, February 20th. Weiss Ratings restated a “hold (c+)” rating on shares of Dropbox in a report on Wednesday, January 21st. UBS Group decreased their target price on Dropbox from $27.00 to $23.00 and set a “sell” rating for the company in a research report on Friday, February 20th. Wall Street Zen downgraded Dropbox from a “buy” rating to a “hold” rating in a report on Friday, January 23rd. Finally, JPMorgan Chase & Co. reduced their price objective on Dropbox from $29.00 to $25.00 and set a “neutral” rating for the company in a research note on Friday, February 20th. One research analyst has rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $27.50.

Insider Transactions at Dropbox

In other news, CAO Sarah Elizabeth Schubach sold 1,416 shares of Dropbox stock in a transaction dated Wednesday, February 18th. The stock was sold at an average price of $24.49, for a total transaction of $34,677.84. Following the completion of the sale, the chief accounting officer directly owned 86,319 shares in the company, valued at $2,113,952.31. The trade was a 1.61% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CTO Ali Dasdan sold 7,306 shares of the business’s stock in a transaction that occurred on Thursday, February 26th. The shares were sold at an average price of $24.89, for a total value of $181,846.34. Following the completion of the sale, the chief technology officer directly owned 499,379 shares of the company’s stock, valued at approximately $12,429,543.31. The trade was a 1.44% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 451,613 shares of company stock worth $11,737,127. 28.59% of the stock is owned by company insiders.

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.