Headlands Technologies LLC invests $330,000 in Dropbox, Inc. (NASDAQ:DBX)

Headlands Technologies LLC purchased a new position in Dropbox, Inc. (NASDAQ:DBX – Free Report) during the second quarter, according to its most recent 13F filing with the SEC. The firm purchased 14,704 shares of the company’s stock, valued at approximately $330,000.

A number of other large investors have also recently modified their holdings of the company. Vanguard Group Inc. raised its holdings in shares of Dropbox by 0.4% in the first quarter. Vanguard Group Inc. now owns 27,379,532 shares of the company’s stock valued at $665,323,000 after buying an additional 105,250 shares during the period. Susquehanna Fundamental Investments LLC acquired a new stake in shares of Dropbox in the first quarter valued at approximately $4,900,000. Lakewood Asset Management LLC acquired a new stake in shares of Dropbox during the second quarter valued at approximately $797,000. Janus Henderson Group PLC grew its holdings in Dropbox by 16.4% in the first quarter. Janus Henderson Group PLC now owns 1,619,231 shares of the company’s stock worth $39,340,000 after purchasing an additional 228,316 shares in the last quarter. Finally, Franklin Resources Inc. raised its holdings in Dropbox by 16.4% during the 4th quarter. Franklin Resources Inc. now owns 458,789 shares of the company’s stock worth $13,525,000 after buying an additional 64,492 shares during the last quarter. 94.84% of the shares are currently held by hedge funds and other institutional investors.

Analyst upgrades and downgrades

Several equities research analysts have issued reports on the company. Citigroup dropped their price objective on Dropbox from $26.00 to $25.00 and set a “neutral” rating on the stock in a report on Wednesday, June 26th. UBS Group cut their price target on Dropbox from $30.00 to $28.00 and set a “buy” rating for the company in a research report on Friday, August 9th. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and two have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and an average target price of $28.67, based on data from MarketBeat.com.

Check out our latest report on DBX

Buy and sell inside Dropbox

In other Dropbox news, CFO Timothy Regan sold 13,000 shares of the company’s stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $22.33, for a total value of $290,290.00. Following the transaction, the chief financial officer now owns 538,122 shares in the company, valued at $12,016,264.26. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC’s website. In other Dropbox news, CFO Timothy Regan sold 13,000 shares of the business’s stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $22.33, for a total value of $290,290.00. Following the transaction, the chief financial officer now owns 538,122 shares in the company, valued at $12,016,264.26. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC’s website. Also, insider Bart Volkmer sold 7,000 shares of the company’s stock in a transaction dated Monday, July 15th. The shares were sold at an average price of $22.76, for a total value of $159,320.00. Following the completion of the transaction, the insider now owns 333,934 shares in the company, valued at approximately $7,600,337.84. The disclosure for this sale can be found here. Insiders have sold 105,000 shares of company stock worth $2,354,690 over the last 90 days. 26.40% of shares are currently owned by corporate insiders.

Dropbox stock up 1.3%

Shares of Dropbox opened at $24.59 on Friday. The stock’s fifty-day moving average is $23.34, and its 200-day moving average is $23.21. The firm has a market cap of $8.00 billion, a PE ratio of 16.28, a price-to-earnings-growth ratio of 1.51 and a beta of 0.61. Dropbox, Inc. has a 12-month low of $20.68 and a 12-month high of $33.43.

Dropbox (NASDAQ:DBX – Get Your Free Report ) last posted its quarterly earnings results on Thursday, August 8th. The company reported $0.60 earnings per share for the quarter, topping analysts’ consensus estimates of $0.52 by $0.08. Dropbox had a negative return on equity of 161.78% and a net margin of 23.06%. The business had revenue of $634.50 million for the quarter, compared to the consensus estimate of $630.10 million. In the same quarter last year, the company posted earnings of $0.28 per share. Dropbox’s revenue for the quarter was up 1.9% compared to the same quarter last year. Analysts expect Dropbox, Inc. to post 1.31 EPS for the current year.

Dropbox profile

(Free Report)

Dropbox, Inc provides a worldwide content collaboration platform. The company’s platform allows individuals, families, teams and organizations to collaborate and sign up for free through its website or app, as well as upgrade to a paid subscription plan for premium features. It serves clients in the professional services, technology, media, education, industrial, consumer and retail and financial services sectors.

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