Dropbox, Inc. (NASDAQ:DBX) Shares Bought by Keebeck Alpha LP

Keebeck Alpha LP boosted its stake in shares of Dropbox, Inc. (NASDAQ:DBXGet Rating) by 40.5% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 22,484 shares of the company’s stock after acquiring an additional 6,483 shares during the quarter. Keebeck Alpha LP’s holdings in Dropbox were worth $523,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in the stock. CWM LLC acquired a new stake in shares of Dropbox in the 4th quarter valued at approximately $37,000. Prospera Financial Services Inc acquired a new stake in shares of Dropbox in the 1st quarter valued at approximately $40,000. Spire Wealth Management lifted its holdings in shares of Dropbox by 112.7% in the 1st quarter. Spire Wealth Management now owns 1,808 shares of the company’s stock valued at $42,000 after buying an additional 958 shares during the period. Northwestern Mutual Wealth Management Co. lifted its holdings in shares of Dropbox by 194,600.0% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 1,947 shares of the company’s stock valued at $48,000 after buying an additional 1,946 shares during the period. Finally, Itau Unibanco Holding S.A. acquired a new stake in shares of Dropbox in the 4th quarter valued at approximately $50,000. 61.40% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Dropbox news, President Timothy H. Young sold 15,000 shares of the firm’s stock in a transaction on Monday, July 25th. The stock was sold at an average price of $22.68, for a total transaction of $340,200.00. Following the completion of the transaction, the president now owns 1,617,257 shares of the company’s stock, valued at $36,679,388.76. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, CFO Timothy Regan sold 2,500 shares of the firm’s stock in a transaction on Wednesday, May 25th. The stock was sold at an average price of $19.12, for a total transaction of $47,800.00. Following the sale, the chief financial officer now owns 534,973 shares in the company, valued at $10,228,683.76. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, President Timothy H. Young sold 15,000 shares of the firm’s stock in a transaction on Monday, July 25th. The stock was sold at an average price of $22.68, for a total value of $340,200.00. Following the sale, the president now owns 1,617,257 shares in the company, valued at approximately $36,679,388.76. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 84,816 shares of company stock valued at $1,826,426. Corporate insiders own 25.05% of the company’s stock.

Dropbox Price Performance

NASDAQ DBX opened at $24.57 on Wednesday. Dropbox, Inc. has a 1-year low of $19.07 and a 1-year high of $32.59. The company has a market capitalization of $9.23 billion, a P/E ratio of 27.61 and a beta of 0.84. The business has a 50 day moving average price of $22.42 and a 200 day moving average price of $22.38.

Dropbox (NASDAQ:DBXGet Rating) last released its quarterly earnings data on Thursday, August 4th. The company reported $0.38 earnings per share for the quarter, beating the consensus estimate of $0.37 by $0.01. Dropbox had a negative return on equity of 94.26% and a net margin of 15.19%. The firm had revenue of $572.70 million during the quarter, compared to the consensus estimate of $571.27 million. During the same period last year, the business posted $0.24 EPS. Dropbox’s quarterly revenue was up 7.9% on a year-over-year basis. On average, research analysts expect that Dropbox, Inc. will post 0.83 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Separately, Jefferies Financial Group reduced their price target on Dropbox from $35.00 to $30.00 in a report on Monday, May 23rd.

Dropbox Profile

(Get Rating)

Dropbox, Inc is a collaboration platform that’s transforming the way people and teams work together. It offers the following products: Dropbox Basic, Dropbox Plus, Dropbox Professional, and Dropbox Business. The Dropbox Basic is the simple, powerful home for photos, videos, documents, and other files.

See Also

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Institutional Ownership by Quarter for Dropbox (NASDAQ:DBX)

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