Swiss National Bank Sells 20,200 Shares of Dropbox, Inc. $DBX

Swiss National Bank lessened its stake in shares of Dropbox, Inc. (NASDAQ:DBX) by 5.5% during the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 345,300 shares of the company’s stock after selling 20,200 shares during the period. Swiss National Bank owned approximately 0.14% of Dropbox worth $7,845,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Arbejdsmarkedets Tillaegspension bought a new position in shares of Dropbox during the fourth quarter valued at approximately $22,050,000. Nisa Investment Advisors LLC raised its holdings in shares of Dropbox by 57.9% in the fourth quarter. Nisa Investment Advisors LLC now owns 223,706 shares of the company’s stock worth $6,219,000 after buying an additional 82,053 shares during the period. Robeco Institutional Asset Management B.V. lifted its stake in shares of Dropbox by 22.5% during the 4th quarter. Robeco Institutional Asset Management B.V. now owns 2,518,534 shares of the company’s stock worth $70,015,000 after acquiring an additional 463,258 shares during the last quarter. Pictet Asset Management Holding SA lifted its stake in shares of Dropbox by 317.2% during the 4th quarter. Pictet Asset Management Holding SA now owns 125,144 shares of the company’s stock worth $3,479,000 after acquiring an additional 95,146 shares during the last quarter. Finally, ING Groep NV purchased a new position in Dropbox during the 4th quarter valued at $1,223,000. 94.84% of the stock is currently owned by institutional investors.

Dropbox Trading Up 4.6%

DBX opened at $30.54 on Tuesday. The company has a market capitalization of $7.12 billion, a price-to-earnings ratio of 16.69, a PEG ratio of 3.20 and a beta of 0.66. Dropbox, Inc. has a 12-month low of $21.69 and a 12-month high of $32.40. The business’s fifty day simple moving average is $27.90 and its 200-day simple moving average is $26.04.

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

Wall Street Analysts Forecast Growth

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

Insiders Place Their Bets

In other news, Director Andrew William Moore sold 8,443 shares of the company’s stock in a transaction that occurred on Monday, May 18th. The shares were sold at an average price of $27.57, for a total value of $232,773.51. Following the completion of the sale, the director owned 4,737 shares of the company’s stock, valued at approximately $130,599.09. This represents a 64.06% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Karen Peacock sold 2,000 shares of the stock in a transaction that occurred on Tuesday, July 7th. The shares were sold at an average price of $29.00, for a total transaction of $58,000.00. Following the transaction, the director owned 24,366 shares in the company, valued at approximately $706,614. This represents a 7.59% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders have sold 129,082 shares of company stock worth $3,489,910. 35.48% of the stock is owned by corporate insiders.

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.