Dropbox Inc (NASDAQ:DBX) Shares Purchased by Parallel Advisors LLC

Parallel Advisors LLC boosted its position in Dropbox Inc (NASDAQ:DBX) by 58.6% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,142 shares of the company’s stock after buying an additional 3,749 shares during the quarter. Parallel Advisors LLC’s holdings in Dropbox were worth $205,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of the business. Whittier Trust Co. acquired a new stake in shares of Dropbox in the 3rd quarter valued at about $27,000. Meridian Wealth Management LLC acquired a new stake in shares of Dropbox in the 2nd quarter valued at about $34,000. Glen Harbor Capital Management LLC raised its stake in shares of Dropbox by 203.0% in the 2nd quarter. Glen Harbor Capital Management LLC now owns 1,600 shares of the company’s stock valued at $40,000 after purchasing an additional 1,072 shares in the last quarter. CSat Investment Advisory L.P. acquired a new stake in shares of Dropbox in the 2nd quarter valued at about $45,000. Finally, Livforsakringsbolaget Skandia Omsesidigt acquired a new stake in shares of Dropbox in the 2nd quarter valued at about $55,000. Hedge funds and other institutional investors own 39.78% of the company’s stock.

DBX traded down $1.16 on Friday, hitting $19.80. 9,567,800 shares of the company’s stock were exchanged, compared to its average volume of 3,590,478. Dropbox Inc has a twelve month low of $17.20 and a twelve month high of $27.15. The firm has a market cap of $8.63 billion, a PE ratio of -15.11 and a beta of 1.56. The stock has a fifty day moving average of $19.73 and a two-hundred day moving average of $21.72. The company has a current ratio of 1.18, a quick ratio of 1.18 and a debt-to-equity ratio of 0.99.

Dropbox (NASDAQ:DBX) last released its earnings results on Thursday, November 7th. The company reported $0.13 EPS for the quarter, beating the consensus estimate of ($0.04) by $0.17. The business had revenue of $428.20 million during the quarter, compared to analyst estimates of $423.48 million. Dropbox had a negative net margin of 2.91% and a negative return on equity of 6.57%. The business’s quarterly revenue was up 18.8% on a year-over-year basis. During the same period in the prior year, the business earned $0.11 earnings per share. On average, analysts predict that Dropbox Inc will post -0.12 EPS for the current year.

DBX has been the topic of a number of recent analyst reports. Royal Bank of Canada dropped coverage on shares of Dropbox in a research note on Thursday, September 26th. Macquarie dropped coverage on shares of Dropbox in a research note on Thursday, September 26th. William Blair dropped coverage on shares of Dropbox in a research note on Friday, August 9th. Canaccord Genuity dropped coverage on shares of Dropbox in a research note on Friday, September 27th. Finally, Zacks Investment Research upgraded shares of Dropbox from a “hold” rating to a “buy” rating and set a $22.00 price objective on the stock in a research note on Wednesday, October 9th. One research analyst has rated the stock with a sell rating and eleven have issued a buy rating to the company. Dropbox presently has an average rating of “Buy” and a consensus price target of $28.10.

In related news, CFO Ajay Vashee sold 13,750 shares of the company’s stock in a transaction that occurred on Thursday, September 19th. The shares were sold at an average price of $21.02, for a total value of $289,025.00. Also, Director Condoleezza Rice sold 23,943 shares of the company’s stock in a transaction that occurred on Monday, August 12th. The shares were sold at an average price of $18.38, for a total transaction of $440,072.34. The disclosure for this sale can be found here. In the last 90 days, insiders sold 84,276 shares of company stock valued at $1,666,898. 31.20% of the stock is owned by insiders.

About Dropbox

Dropbox, Inc provides a collaboration platform worldwide. Its platform allows individuals, teams, and organizations to collaborate and sign up for free through its Website or app, as well as upgrade to a paid subscription plan for premium features. The company has approximately 500 million registered users across 180 countries.

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Institutional Ownership by Quarter for Dropbox (NASDAQ:DBX)

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