WINTON GROUP Ltd Invests $1.47 Million in Dropbox, Inc. (NASDAQ:DBX)

WINTON GROUP Ltd bought a new stake in shares of Dropbox, Inc. (NASDAQ:DBX) in the second quarter, according to its most recent Form 13F filing with the SEC. The fund bought 65,458 shares of the company’s stock, valued at approximately $1,471,000.

Several other large investors also recently made changes to their positions in DBX. Cornercap Investment Counsel Inc. acquired a new position in Dropbox during the 2nd quarter valued at about $562,000. Achmea Investment Management B.V. increased its stake in shares of Dropbox by 15.1% during the second quarter. Achmea Investment Management B.V. now owns 406,104 shares of the company’s stock valued at $9,125,000 after acquiring an additional 53,406 shares during the period. AGF Management Ltd. raised its holdings in Dropbox by 5.0% during the second quarter. AGF Management Ltd. now owns 102,255 shares of the company’s stock worth $2,298,000 after purchasing an additional 4,866 shares in the last quarter. Headlands Technologies LLC acquired a new stake in Dropbox in the second quarter worth approximately $330,000. Finally, Prudential PLC boosted its stake in Dropbox by 797.9% during the 2nd quarter. Prudential PLC now owns 209,225 shares of the company’s stock valued at $4,701,000 after purchasing an additional 185,923 shares in the last quarter. Institutional investors and hedge funds own 94.84% of the company’s stock.

Dropbox Stock Up 1.3 %

NASDAQ:DBX opened at $24.59 on Monday. The stock has a fifty day simple moving average of $23.34 and a 200 day simple moving average of $23.20. The firm has a market capitalization of $8.00 billion, a price-to-earnings ratio of 16.28, a price-to-earnings-growth ratio of 1.51 and a beta of 0.61. Dropbox, Inc. has a 1-year low of $20.68 and a 1-year high of $33.43.

Dropbox (NASDAQ:DBX) last announced its earnings results on Thursday, August 8th. The company reported $0.60 EPS for the quarter, topping the consensus estimate of $0.52 by $0.08. The company had revenue of $634.50 million during the quarter, compared to analysts’ expectations of $630.10 million. Dropbox had a net margin of 23.06% and a negative return on equity of 161.78%. The business’s revenue for the quarter was up 1.9% on a year-over-year basis. During the same period last year, the company posted $0.28 earnings per share. Equities analysts predict that Dropbox, Inc. will post 1.31 earnings per share for the current year.

Insiders Place Their Bets

In other news, insider Bart Volkmer sold 7,000 shares of the firm’s stock in a transaction on Monday, July 15th. The stock was sold at an average price of $22.76, for a total value of $159,320.00. Following the completion of the sale, the insider now owns 333,934 shares of the company’s stock, valued at $7,600,337.84. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other Dropbox news, CEO Andrew Houston sold 82,000 shares of the company’s stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $22.40, for a total value of $1,836,800.00. Following the transaction, the chief executive officer now owns 8,266,666 shares in the company, valued at approximately $185,173,318.40. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Bart Volkmer sold 7,000 shares of Dropbox stock in a transaction on Monday, July 15th. The shares were sold at an average price of $22.76, for a total transaction of $159,320.00. Following the sale, the insider now directly owns 333,934 shares of the company’s stock, valued at approximately $7,600,337.84. The disclosure for this sale can be found here. In the last three months, insiders have sold 105,000 shares of company stock worth $2,354,690. Corporate insiders own 26.40% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the company. Citigroup dropped their price objective on Dropbox from $26.00 to $25.00 and set a “neutral” rating on the stock in a research note on Wednesday, June 26th. UBS Group dropped their price target on shares of Dropbox from $30.00 to $28.00 and set a “buy” rating on the stock in a research report on Friday, August 9th. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Dropbox has a consensus rating of “Hold” and a consensus price target of $28.67.

Dropbox Profile

Dropbox, Inc provides a content collaboration platform worldwide. The company's platform allows individuals, families, 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. It serves customers in professional services, technology, media, education, industrial, consumer and retail, and financial services industries.