Dropbox, Inc. $DBX Shares Purchased by Odyssean LLC

Odyssean LLC lifted its holdings in Dropbox, Inc. (NASDAQ:DBX) by 93.3% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 109,738 shares of the company’s stock after buying an additional 52,980 shares during the period. Odyssean LLC’s holdings in Dropbox were worth $3,015,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently bought and sold shares of DBX. Norges Bank acquired a new stake in shares of Dropbox during the fourth quarter valued at about $69,909,000. Arrowstreet Capital Limited Partnership lifted its holdings in shares of Dropbox by 12.7% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 8,533,736 shares of the company’s stock worth $193,886,000 after acquiring an additional 960,109 shares during the last quarter. Arbejdsmarkedets Tillaegspension acquired a new position in shares of Dropbox in the 4th quarter worth approximately $22,050,000. Wedge Capital Management L L P NC boosted its position in shares of Dropbox by 26.4% during the 2nd quarter. Wedge Capital Management L L P NC now owns 3,005,173 shares of the company’s stock worth $82,552,000 after purchasing an additional 627,111 shares during the period. Finally, Allianz Asset Management GmbH boosted its position in shares of Dropbox by 28.1% during the 4th quarter. Allianz Asset Management GmbH now owns 2,720,372 shares of the company’s stock worth $75,626,000 after purchasing an additional 596,440 shares during the period. 94.84% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Dropbox

In other Dropbox news, insider Eric T. Webster sold 15,830 shares of the stock in a transaction dated Tuesday, August 18th. The stock was sold at an average price of $34.09, for a total value of $539,644.70. Following the sale, the insider owned 416,236 shares of the company’s stock, valued at $14,189,485.24. This trade represents a 3.66% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Karen Peacock sold 2,000 shares of Dropbox stock in a transaction dated Wednesday, July 29th. The shares were sold at an average price of $33.00, for a total value of $66,000.00. Following the completion of the transaction, the director owned 22,366 shares of the company’s stock, valued at $738,078. The trade was a 8.21% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 61,041 shares of company stock worth $1,896,492 over the last quarter. 35.48% of the stock is currently owned by insiders.

Dropbox Stock Down 0.3%

NASDAQ:DBX opened at $34.78 on Wednesday. Dropbox, Inc. has a 52 week low of $21.69 and a 52 week high of $36.30. The company has a fifty day simple moving average of $30.71 and a two-hundred day simple moving average of $27.18. The company has a market cap of $7.85 billion, a price-to-earnings ratio of 19.32, a price-to-earnings-growth ratio of 5.14 and a beta of 0.64.

Dropbox (NASDAQ:DBX) last announced its quarterly earnings data on Thursday, August 6th. The company reported $0.75 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.74 by $0.01. The business had revenue of $631.50 million for the quarter, compared to analysts’ expectations of $626.69 million. Dropbox had a negative return on equity of 24.26% and a net margin of 17.49%.The company’s revenue for the quarter was up .9% compared to the same quarter last year. During the same period last year, the firm earned $0.71 earnings per share. On average, analysts expect that Dropbox, Inc. will post 1.94 EPS for the current year.

Analyst Ratings Changes

A number of analysts have issued reports on DBX shares. Bank of America reissued an “underperform” rating on shares of Dropbox in a research report on Friday, August 7th. Zacks Research cut Dropbox from a “hold” rating to a “strong sell” rating in a research note on Wednesday, August 19th. Royal Bank Of Canada reiterated an “outperform” rating on shares of Dropbox in a report on Monday, June 1st. Weiss Ratings upgraded Dropbox from a “hold (c)” rating to a “hold (c+)” rating in a report on Thursday, August 13th. Finally, William Blair upgraded shares of Dropbox from an “underperform” rating to a “market perform” rating in a research note on Friday, August 7th. One equities research analyst has rated the stock with a Buy rating, four have given a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Reduce” and an average target price of $28.25.

Dropbox Profile

Dropbox, Inc (NASDAQ: DBX) is a leading provider of cloud-based file storage, collaboration, and productivity tools. Founded in 2007 and headquartered in San Francisco, California, the company offers a suite of services designed to help individuals and organizations securely store, share, and manage digital content. Dropbox has grown from a simple file-syncing application into an integrated collaboration platform used by millions of customers around the globe.

At its core, Dropbox provides cloud storage plans tailored for consumers and businesses.