Y Intercept Hong Kong Ltd Has $3.24 Million Holdings in Dropbox, Inc. $DBX

Y Intercept Hong Kong Ltd lifted its stake in Dropbox, Inc. (NASDAQ:DBX) by 118.7% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 107,364 shares of the company’s stock after purchasing an additional 58,263 shares during the period. Y Intercept Hong Kong Ltd’s holdings in Dropbox were worth $3,243,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the business. Neo Ivy Capital Management acquired a new position in Dropbox in the 2nd quarter worth $30,000. First Horizon Corp acquired a new stake in Dropbox in the 3rd quarter valued at about $31,000. Geneos Wealth Management Inc. increased its holdings in shares of Dropbox by 78.0% during the 2nd quarter. Geneos Wealth Management Inc. now owns 1,273 shares of the company’s stock worth $36,000 after acquiring an additional 558 shares during the last quarter. Cullen Frost Bankers Inc. bought a new stake in shares of Dropbox during the 2nd quarter worth about $41,000. Finally, SJS Investment Consulting Inc. lifted its holdings in Dropbox by 6,319.0% during the 3rd quarter. SJS Investment Consulting Inc. now owns 1,348 shares of the company’s stock worth $41,000 after purchasing an additional 1,327 shares during the last quarter. Institutional investors and hedge funds own 94.84% of the company’s stock.

Dropbox Stock Performance

DBX stock opened at $26.71 on Tuesday. The company’s 50 day moving average price is $28.06 and its two-hundred day moving average price is $28.65. Dropbox, Inc. has a one year low of $24.42 and a one year high of $33.33. The company has a market capitalization of $6.91 billion, a PE ratio of 15.09, a price-to-earnings-growth ratio of 2.15 and a beta of 0.62.

Dropbox (NASDAQ:DBX) last announced its quarterly earnings results on Thursday, November 6th. The company reported $0.74 earnings per share for the quarter, beating the consensus estimate of $0.64 by $0.10. The business had revenue of $634.40 million during the quarter, compared to analysts’ expectations of $623.59 million. Dropbox had a net margin of 19.87% and a negative return on equity of 49.51%. The firm’s revenue for the quarter was down .7% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.60 EPS. On average, research analysts predict that Dropbox, Inc. will post 1.64 EPS for the current year.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the company. Wall Street Zen downgraded Dropbox from a “buy” rating to a “hold” rating in a research report on Friday. Weiss Ratings reiterated a “hold (c+)” rating on shares of Dropbox in a research report on Wednesday, January 21st. Finally, Royal Bank Of Canada decreased their price target on Dropbox from $38.00 to $35.00 and set an “outperform” rating for the company in a report on Monday, January 5th. One analyst has rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, Dropbox currently has an average rating of “Hold” and a consensus price target of $31.33.

Insiders Place Their Bets

In other Dropbox news, CTO Ali Dasdan sold 5,666 shares of the business’s stock in a transaction on Tuesday, November 18th. The shares were sold at an average price of $29.19, for a total value of $165,390.54. Following the sale, the chief technology officer owned 526,140 shares in the company, valued at $15,358,026.60. The trade was a 1.07% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Andrew Houston sold 101,167 shares of Dropbox stock in a transaction that occurred on Friday, November 14th. The stock was sold at an average price of $30.23, for a total value of $3,058,278.41. The disclosure for this sale is available in the SEC filing. Insiders have sold 406,620 shares of company stock worth $11,703,370 over the last three months. Company insiders own 28.59% of the company’s stock.

Dropbox Company 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.