Inceptionr LLC Acquires 32,388 Shares of Dropbox, Inc. $DBX

Inceptionr LLC boosted its holdings in shares of Dropbox, Inc. (NASDAQ:DBX) by 155.3% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 53,245 shares of the company’s stock after purchasing an additional 32,388 shares during the period. Inceptionr LLC’s holdings in Dropbox were worth $1,210,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in DBX. Palisade Asset Management LLC purchased a new position in shares of Dropbox during the 3rd quarter worth approximately $30,000. Kestra Advisory Services LLC purchased a new stake in Dropbox in the fourth quarter worth $31,000. Larson Financial Group LLC grew its stake in Dropbox by 228.0% in the fourth quarter. Larson Financial Group LLC now owns 1,138 shares of the company’s stock worth $32,000 after purchasing an additional 791 shares during the period. Geneos Wealth Management Inc. raised its holdings in Dropbox by 78.0% in the second quarter. Geneos Wealth Management Inc. now owns 1,273 shares of the company’s stock worth $36,000 after purchasing an additional 558 shares in the last quarter. Finally, Caitong International Asset Management Co. Ltd bought a new position in Dropbox in the fourth quarter worth $38,000. Hedge funds and other institutional investors own 94.84% of the company’s stock.

Wall Street Analysts Forecast Growth

DBX has been the topic of a number of research reports. Wall Street Zen upgraded shares of Dropbox from a “hold” rating to a “buy” rating in a report on Sunday, June 28th. Weiss Ratings restated a “hold (c)” rating on shares of Dropbox in a report on Monday, May 4th. Royal Bank Of Canada reaffirmed an “outperform” rating on shares of Dropbox in a research note on Monday, June 1st. Finally, Citigroup upped their price target on Dropbox from $27.00 to $28.00 and gave the stock a “neutral” rating in a research note on Monday, May 11th. One investment analyst has rated the stock with a Buy rating, three have assigned a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Reduce” and an average target price of $27.00.

Insider Activity at Dropbox

In other Dropbox news, CEO Andrew Houston sold 30,332 shares of the stock in a transaction dated Monday, May 18th. The stock was sold at an average price of $27.50, for a total value of $834,130.00. The transaction was disclosed in a filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Andrew William Moore sold 8,443 shares of the company’s stock in a transaction dated Monday, May 18th. The shares were sold at an average price of $27.57, for a total transaction of $232,773.51. Following the sale, the director directly owned 4,737 shares of the company’s stock, valued at $130,599.09. The trade was a 64.06% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 129,082 shares of company stock valued at $3,489,910 in the last 90 days. 35.48% of the stock is owned by company insiders.

Dropbox Price Performance

DBX stock opened at $28.43 on Friday. Dropbox, Inc. has a 1-year low of $21.69 and a 1-year high of $32.40. The business has a fifty day moving average price of $27.80 and a 200-day moving average price of $26.00. The stock has a market capitalization of $6.63 billion, a P/E ratio of 15.54, a P/E/G ratio of 3.14 and a beta of 0.66.

Dropbox (NASDAQ:DBX) last announced its quarterly earnings results on Thursday, May 7th. The company reported $0.76 EPS for the quarter, topping analysts’ consensus estimates of $0.71 by $0.05. Dropbox had a net margin of 18.71% and a negative return on equity of 30.01%. The firm had revenue of $629.50 million during the quarter, compared to analyst estimates of $620.56 million. During the same period in the previous year, the business posted $0.70 earnings per share. The business’s revenue for the quarter was up .8% on a year-over-year basis. As a group, analysts anticipate that Dropbox, Inc. will post 2.09 earnings per share for the current year.

About Dropbox

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.