RBF Capital LLC Makes New $391,000 Investment in Dropbox, Inc. (NASDAQ:DBX)

RBF Capital LLC acquired a new position in shares of Dropbox, Inc. (NASDAQ:DBXGet Rating) in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 16,804 shares of the company’s stock, valued at approximately $391,000.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Stratos Wealth Partners LTD. grew its position in shares of Dropbox by 4.4% during the first quarter. Stratos Wealth Partners LTD. now owns 15,473 shares of the company’s stock worth $360,000 after buying an additional 659 shares in the last quarter. Xponance Inc. grew its position in shares of Dropbox by 2.5% during the first quarter. Xponance Inc. now owns 34,379 shares of the company’s stock worth $799,000 after buying an additional 831 shares in the last quarter. PNC Financial Services Group Inc. grew its position in shares of Dropbox by 19.1% during the first quarter. PNC Financial Services Group Inc. now owns 5,730 shares of the company’s stock worth $133,000 after buying an additional 918 shares in the last quarter. Scotia Capital Inc. grew its position in shares of Dropbox by 0.6% during the first quarter. Scotia Capital Inc. now owns 156,387 shares of the company’s stock worth $3,636,000 after buying an additional 920 shares in the last quarter. Finally, Waterfront Wealth Inc. grew its position in shares of Dropbox by 6.2% during the fourth quarter. Waterfront Wealth Inc. now owns 16,084 shares of the company’s stock worth $395,000 after buying an additional 935 shares in the last quarter. 60.57% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, President Timothy H. Young sold 15,000 shares of the stock in a transaction that occurred on Friday, June 24th. The stock was sold at an average price of $22.29, for a total value of $334,350.00. Following the completion of the sale, the president now directly owns 1,632,257 shares of the company’s stock, valued at $36,383,008.53. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CFO Timothy Regan sold 2,500 shares of the stock in a transaction that occurred on Monday, June 27th. The stock was sold at an average price of $22.60, for a total value of $56,500.00. Following the completion of the sale, the chief financial officer now directly owns 532,473 shares of the company’s stock, valued at $12,033,889.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, President Timothy H. Young sold 15,000 shares of the stock in a transaction that occurred on Friday, June 24th. The shares were sold at an average price of $22.29, for a total value of $334,350.00. Following the completion of the sale, the president now directly owns 1,632,257 shares of the company’s stock, valued at $36,383,008.53. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 72,270 shares of company stock valued at $1,649,465. 25.05% of the stock is currently owned by company insiders.

Dropbox Stock Up 2.9 %

Shares of DBX opened at $22.75 on Monday. The stock has a 50 day moving average price of $22.74 and a 200 day moving average price of $22.15. The company has a market capitalization of $8.54 billion, a price-to-earnings ratio of 25.56, a price-to-earnings-growth ratio of 2.90 and a beta of 0.84. Dropbox, Inc. has a 52-week low of $19.07 and a 52-week high of $32.38.

Dropbox (NASDAQ:DBXGet Rating) last announced its quarterly earnings results on Thursday, August 4th. The company reported $0.20 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.21 by ($0.01). The business had revenue of $572.70 million during the quarter, compared to analyst estimates of $571.27 million. Dropbox had a net margin of 15.19% and a negative return on equity of 94.26%. The business’s revenue for the quarter was up 7.9% compared to the same quarter last year. During the same period last year, the company earned $0.24 earnings per share. On average, equities analysts anticipate that Dropbox, Inc. will post 0.83 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

DBX has been the subject of a number of analyst reports. Jefferies Financial Group lowered their price objective on Dropbox from $35.00 to $30.00 in a research report on Monday, May 23rd. Citigroup assumed coverage on Dropbox in a research report on Thursday, September 1st. They set a “neutral” rating and a $24.00 price objective for the company. Finally, Bank of America assumed coverage on Dropbox in a report on Tuesday, September 6th. They issued a “buy” rating and a $34.00 price target for the company.

Dropbox Profile

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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.

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Institutional Ownership by Quarter for Dropbox (NASDAQ:DBX)

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