Intech Investment Management LLC Has $12.32 Million Stake in Dropbox, Inc. $DBX

Intech Investment Management LLC raised its stake in Dropbox, Inc. (NASDAQ:DBX) by 117.3% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 407,958 shares of the company’s stock after buying an additional 220,176 shares during the quarter. Intech Investment Management LLC’s holdings in Dropbox were worth $12,324,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of DBX. Rossby Financial LCC raised its position in Dropbox by 128.5% in the 3rd quarter. Rossby Financial LCC now owns 937 shares of the company’s stock valued at $28,000 after buying an additional 527 shares during the last quarter. First Horizon Corp bought a new stake in shares of Dropbox in the 3rd quarter worth $31,000. Neo Ivy Capital Management bought a new stake in shares of Dropbox in the 2nd quarter worth $30,000. LRI Investments LLC raised its holdings in shares of Dropbox by 666.7% in the third quarter. LRI Investments LLC now owns 1,150 shares of the company’s stock valued at $35,000 after purchasing an additional 1,000 shares during the last quarter. Finally, Geneos Wealth Management Inc. lifted its position in shares of Dropbox by 78.0% during the second quarter. Geneos Wealth Management Inc. now owns 1,273 shares of the company’s stock valued at $36,000 after purchasing an additional 558 shares in the last quarter. Institutional investors own 94.84% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have commented on DBX shares. 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. Wall Street Zen downgraded Dropbox from a “buy” rating to a “hold” rating in a research report on Friday, January 23rd. UBS Group dropped their price target on Dropbox from $27.00 to $23.00 and set a “sell” rating on the stock in a report on Friday, February 20th. 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. Finally, Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Dropbox in a research report on Wednesday, January 21st. One investment analyst has rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, Dropbox presently has a consensus rating of “Hold” and an average price target of $27.50.

Dropbox Stock Performance

NASDAQ:DBX opened at $24.84 on Friday. The business’s fifty day moving average is $26.16 and its 200 day moving average is $28.29. The firm has a market cap of $6.43 billion, a price-to-earnings ratio of 13.35, a PEG ratio of 1.72 and a beta of 0.63. Dropbox, Inc. has a 52-week low of $23.63 and a 52-week high of $32.40.

Dropbox (NASDAQ:DBX) last issued its earnings results on Thursday, February 19th. The company reported $0.68 EPS for the quarter, topping the consensus estimate of $0.66 by $0.02. Dropbox had a negative return on equity of 37.47% and a net margin of 20.17%.The business had revenue of $636.20 million during the quarter, compared to the consensus estimate of $627.83 million. During the same quarter last year, the company earned $0.73 EPS. The firm’s revenue was down 1.1% compared to the same quarter last year. Equities analysts predict that Dropbox, Inc. will post 1.64 EPS for the current fiscal year.

Insider Activity at Dropbox

In other Dropbox news, CAO Sarah Elizabeth Schubach sold 1,416 shares of the firm’s stock in a transaction on Wednesday, February 18th. The shares were sold at an average price of $24.49, for a total value of $34,677.84. Following the completion of the transaction, the chief accounting officer directly owned 86,319 shares of the company’s stock, valued at $2,113,952.31. This trade represents a 1.61% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Andrew Houston sold 164,502 shares of the company’s stock in a transaction on Monday, February 2nd. The stock was sold at an average price of $25.66, for a total transaction of $4,221,121.32. The SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 423,257 shares of company stock valued at $11,491,436. 29.95% of the stock is owned by corporate insiders.

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.