Exchange Traded Concepts LLC Makes New Investment in Dropbox, Inc. (NASDAQ:DBX)

Exchange Traded Concepts LLC acquired a new stake in shares of Dropbox, Inc. (NASDAQ:DBX - Free Report) in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 31,933 shares of the company's stock, valued at approximately $812,000.

Several other hedge funds also recently made changes to their positions in DBX. Fisher Asset Management LLC raised its position in shares of Dropbox by 11.6% during the fourth quarter. Fisher Asset Management LLC now owns 130,964 shares of the company's stock worth $3,861,000 after purchasing an additional 13,582 shares during the period. B. Riley Wealth Advisors Inc. lifted its stake in Dropbox by 9.7% during the fourth quarter. B. Riley Wealth Advisors Inc. now owns 18,578 shares of the company's stock valued at $548,000 after buying an additional 1,642 shares in the last quarter. Los Angeles Capital Management LLC purchased a new position in shares of Dropbox in the first quarter worth approximately $240,000. Cooper Financial Group raised its holdings in shares of Dropbox by 3.1% during the first quarter. Cooper Financial Group now owns 15,581 shares of the company's stock valued at $379,000 after acquiring an additional 462 shares during the period. Finally, West Coast Financial LLC lifted its position in shares of Dropbox by 0.6% in the 1st quarter. West Coast Financial LLC now owns 232,989 shares of the company's stock valued at $5,662,000 after acquiring an additional 1,439 shares in the last quarter. Institutional investors and hedge funds own 94.84% of the company's stock.

Insider Buying and Selling at Dropbox

In other Dropbox news, CEO Andrew Houston sold 3,493 shares of the firm's stock in a transaction dated Thursday, September 19th. The shares were sold at an average price of $25.00, for a total transaction of $87,325.00. Following the completion of the transaction, the chief executive officer now owns 8,266,666 shares in the company, valued at $206,666,650. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Dropbox news, CEO Andrew Houston sold 3,493 shares of the stock in a transaction on Thursday, September 19th. The stock was sold at an average price of $25.00, for a total transaction of $87,325.00. Following the completion of the transaction, the chief executive officer now directly owns 8,266,666 shares in the company, valued at $206,666,650. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Timothy Regan sold 2,500 shares of the business's stock in a transaction on Friday, September 13th. The shares were sold at an average price of $24.35, for a total transaction of $60,875.00. Following the completion of the sale, the chief financial officer now owns 485,724 shares in the company, valued at $11,827,379.40. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 457,452 shares of company stock valued at $11,480,062 in the last 90 days. 26.40% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on DBX. Citigroup reduced their price objective on Dropbox from $26.00 to $25.00 and set a "neutral" rating for the company in a research note on Wednesday, June 26th. UBS Group decreased their price target on shares of Dropbox from $30.00 to $28.00 and set a "buy" rating for the company in a report on Friday, August 9th. Two analysts have rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $28.67.

Dropbox Trading Up 0.4 %

NASDAQ:DBX traded up $0.10 during mid-day trading on Friday, hitting $26.47. 2,417,438 shares of the company's stock traded hands, compared to its average volume of 3,754,061. The firm has a market capitalization of $8.74 billion, a price-to-earnings ratio of 17.53, a price-to-earnings-growth ratio of 1.61 and a beta of 0.61. The firm has a 50 day moving average of $24.58 and a two-hundred day moving average of $23.42. Dropbox, Inc. has a 12 month low of $20.68 and a 12 month high of $33.43.

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

Dropbox Company 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.