Graphene Investments SAS Sells 28,600 Shares of Dropbox, Inc. (NASDAQ:DBX)

Graphene Investments SAS lowered its position in Dropbox, Inc. (NASDAQ:DBX) by 22.7% in the fourth quarter, Holdings Channel.com reports. The fund owned 97,500 shares of the company’s stock after selling 28,600 shares during the period. Dropbox makes up 2.0% of Graphene Investments SAS’s investment portfolio, making the stock its 29th largest holding. Graphene Investments SAS’s holdings in Dropbox were worth $2,929,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of the company. Capital Performance Advisors LLP bought a new position in shares of Dropbox during the 3rd quarter worth approximately $28,000. V Square Quantitative Management LLC bought a new position in shares of Dropbox during the third quarter valued at $31,000. UMB Bank n.a. boosted its stake in shares of Dropbox by 2,479.4% in the 3rd quarter. UMB Bank n.a. now owns 1,754 shares of the company’s stock valued at $45,000 after purchasing an additional 1,686 shares in the last quarter. Fifth Third Bancorp grew its holdings in shares of Dropbox by 35.6% in the 4th quarter. Fifth Third Bancorp now owns 1,798 shares of the company’s stock worth $54,000 after purchasing an additional 472 shares during the last quarter. Finally, Quarry LP increased its position in shares of Dropbox by 23.4% during the 3rd quarter. Quarry LP now owns 2,424 shares of the company’s stock worth $62,000 after purchasing an additional 459 shares in the last quarter. Institutional investors own 94.84% of the company’s stock.

Dropbox Stock Down 1.3 %

Shares of NASDAQ DBX opened at $32.20 on Friday. Dropbox, Inc. has a twelve month low of $20.68 and a twelve month high of $33.43. The company’s fifty day moving average is $30.28 and its 200-day moving average is $26.87. The stock has a market cap of $9.97 billion, a price-to-earnings ratio of 18.61, a P/E/G ratio of 1.63 and a beta of 0.61.

Dropbox (NASDAQ:DBX) last posted its earnings results on Thursday, November 7th. The company reported $0.36 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.52 by ($0.16). The business had revenue of $638.80 million during the quarter, compared to analyst estimates of $636.93 million. Dropbox had a net margin of 22.71% and a negative return on equity of 135.85%. During the same period in the previous year, the firm posted $0.35 earnings per share. On average, research analysts anticipate that Dropbox, Inc. will post 1.49 EPS for the current fiscal year.

Insider Activity

In other news, CFO Timothy Regan sold 2,500 shares of the company’s stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $27.17, for a total transaction of $67,925.00. Following the completion of the transaction, the chief financial officer now directly owns 436,264 shares of the company’s stock, valued at $11,853,292.88. This represents a 0.57 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Eric Cox sold 2,330 shares of Dropbox stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $26.41, for a total value of $61,535.30. Following the completion of the sale, the insider now directly owns 321,871 shares in the company, valued at approximately $8,500,613.11. This represents a 0.72 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 902,568 shares of company stock worth $26,729,180 in the last 90 days. Corporate insiders own 26.40% of the company’s stock.

Analysts Set New Price Targets

Separately, Jefferies Financial Group raised their price objective on shares of Dropbox from $27.00 to $30.00 and gave the stock a “hold” rating in a report on Monday, January 6th. Two research analysts have rated the stock with a sell rating, four have given a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $27.50.

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.