WINTON GROUP Ltd Trims Holdings in Dropbox, Inc. $DBX

WINTON GROUP Ltd reduced its holdings in shares of Dropbox, Inc. (NASDAQ:DBX) by 41.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 87,738 shares of the company’s stock after selling 61,132 shares during the quarter. WINTON GROUP Ltd’s holdings in Dropbox were worth $2,439,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in DBX. Empowered Funds LLC boosted its stake in shares of Dropbox by 7.3% during the 1st quarter. Empowered Funds LLC now owns 38,795 shares of the company’s stock valued at $1,036,000 after buying an additional 2,655 shares during the last quarter. Cetera Investment Advisers boosted its stake in shares of Dropbox by 10.8% during the 2nd quarter. Cetera Investment Advisers now owns 24,623 shares of the company’s stock valued at $704,000 after buying an additional 2,405 shares during the last quarter. EverSource Wealth Advisors LLC boosted its stake in shares of Dropbox by 88.0% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,681 shares of the company’s stock valued at $48,000 after buying an additional 787 shares during the last quarter. Cresset Asset Management LLC boosted its stake in shares of Dropbox by 75.8% during the 2nd quarter. Cresset Asset Management LLC now owns 15,230 shares of the company’s stock valued at $436,000 after buying an additional 6,569 shares during the last quarter. Finally, Federated Hermes Inc. boosted its stake in shares of Dropbox by 360.9% during the 2nd quarter. Federated Hermes Inc. now owns 117,852 shares of the company’s stock valued at $3,371,000 after buying an additional 92,280 shares during the last quarter. 94.84% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Dropbox

In other Dropbox news, CEO Andrew Houston sold 30,332 shares of the stock in a transaction on Monday, May 18th. The stock was sold at an average price of $27.50, for a total value of $834,130.00. The sale was disclosed in a document filed with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Ashraf Alkarmi sold 22,700 shares of the stock in a transaction on Tuesday, June 2nd. The stock was sold at an average price of $27.86, for a total value of $632,422.00. Following the completion of the sale, the chief executive officer directly owned 1,080,746 shares in the company, valued at $30,109,583.56. This represents a 2.06% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 239,883 shares of company stock valued at $6,006,972 over the last three months. 35.48% of the stock is currently owned by company insiders.

Dropbox Price Performance

Shares of DBX opened at $27.52 on Monday. The business’s fifty day moving average price is $25.11 and its 200 day moving average price is $26.17. Dropbox, Inc. has a 12-month low of $21.69 and a 12-month high of $32.40. The stock has a market capitalization of $6.42 billion, a PE ratio of 15.04, a price-to-earnings-growth ratio of 3.01 and a beta of 0.67.

Dropbox (NASDAQ:DBX) last announced its quarterly earnings data on Thursday, May 7th. The company reported $0.76 earnings per share (EPS) for the quarter, topping 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 for the quarter, compared to analysts’ expectations of $620.56 million. During the same period last year, the business posted $0.70 earnings per share. The firm’s revenue for the quarter was up .8% on a year-over-year basis. As a group, research analysts anticipate that Dropbox, Inc. will post 2.09 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on DBX. Citigroup increased their target price on Dropbox from $27.00 to $28.00 and gave the company a “neutral” rating in a research note on Monday, May 11th. Royal Bank Of Canada restated an “outperform” rating on shares of Dropbox in a research note on Monday, June 1st. UBS Group reduced their price objective on Dropbox from $27.00 to $23.00 and set a “sell” rating on the stock in a research note on Friday, February 20th. William Blair restated an “underperform” rating on shares of Dropbox in a research note on Monday, March 23rd. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Dropbox in a research note on Monday, May 4th. One equities research 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’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Reduce” and a consensus price target of $27.00.

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.