Creative Planning Increases Stock Position in Dropbox, Inc. (NASDAQ:DBX)

Creative Planning grew its holdings in Dropbox, Inc. (NASDAQ:DBX - Free Report) by 97.4% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 66,123 shares of the company's stock after purchasing an additional 32,622 shares during the quarter. Creative Planning's holdings in Dropbox were worth $1,682,000 as of its most recent SEC filing.

A number of other institutional investors have also bought and sold shares of DBX. GAMMA Investing LLC increased its holdings in shares of Dropbox by 274.0% during the 2nd quarter. GAMMA Investing LLC now owns 1,238 shares of the company's stock worth $28,000 after buying an additional 907 shares during the last quarter. Fifth Third Bancorp increased its holdings in shares of Dropbox by 548.8% during the 2nd quarter. Fifth Third Bancorp now owns 1,382 shares of the company's stock worth $31,000 after buying an additional 1,169 shares during the last quarter. Quarry LP increased its holdings in shares of Dropbox by 81.1% during the 2nd quarter. Quarry LP now owns 1,965 shares of the company's stock worth $44,000 after buying an additional 880 shares during the last quarter. UMB Bank n.a. increased its holdings in shares of Dropbox by 2,479.4% during the 3rd quarter. UMB Bank n.a. now owns 1,754 shares of the company's stock worth $45,000 after buying an additional 1,686 shares during the last quarter. Finally, EntryPoint Capital LLC acquired a new stake in shares of Dropbox during the 1st quarter worth approximately $65,000. 94.84% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Separately, UBS Group cut 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 research analysts have rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $28.67.

Insider Activity at Dropbox

In other Dropbox news, CFO Timothy Regan sold 2,500 shares of the business's stock in a transaction on Tuesday, October 15th. The shares were sold at an average price of $26.18, for a total value of $65,450.00. Following the completion of the transaction, the chief financial officer now owns 466,747 shares in the company, valued at $12,219,436.46. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, CEO Andrew Houston sold 66,064 shares of Dropbox stock in a transaction on Tuesday, September 24th. The shares were sold at an average price of $25.00, for a total transaction of $1,651,600.00. Following the completion of the sale, the chief executive officer now directly owns 8,266,666 shares of the company's stock, valued at approximately $206,666,650. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Timothy Regan sold 2,500 shares of Dropbox stock in a transaction on Tuesday, October 15th. The stock was sold at an average price of $26.18, for a total transaction of $65,450.00. Following the sale, the chief financial officer now directly owns 466,747 shares of the company's stock, valued at approximately $12,219,436.46. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 457,452 shares of company stock worth $11,480,062. Insiders own 26.40% of the company's stock.

Dropbox Trading Up 1.4 %

Dropbox stock traded up $0.35 during trading on Wednesday, hitting $26.17. The company had a trading volume of 3,600,023 shares, compared to its average volume of 3,712,981. Dropbox, Inc. has a 1-year low of $20.68 and a 1-year high of $33.43. The company's 50 day simple moving average is $25.01 and its 200-day simple moving average is $23.55. The stock has a market cap of $8.64 billion, a price-to-earnings ratio of 17.33, a price-to-earnings-growth ratio of 1.61 and a beta of 0.61.

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