OMERS ADMINISTRATION Corp Lowers Position in Dropbox, Inc. $DBX

OMERS ADMINISTRATION Corp reduced its stake in Dropbox, Inc. by 99.9% in the 2nd quarter, as per its latest SEC filing. The firm now holds 8,923 shares worth $255,000. Other institutional investors also adjusted their positions in Dropbox. Dropbox's stock opened at $29.94 with a market cap of $7.75 billion. The company reported $0.74 EPS for the last quarter, beating estimates. Insiders sold 437,607 shares worth $13,037,237 in the last three months. Analysts have mixed ratings on the stock.

OMERS ADMINISTRATION Corp trimmed its position in Dropbox, Inc. (NASDAQ:DBX - Free Report) by 99.9% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 8,923 shares of the company's stock after selling 10,051,700 shares during the period. OMERS ADMINISTRATION Corp's holdings in Dropbox were worth $255,000 at the end of the most recent reporting period.

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A number of other institutional investors have also added to or reduced their stakes in DBX. Neo Ivy Capital Management purchased a new stake in shares of Dropbox in the 2nd quarter worth about $30,000. Elequin Capital LP lifted its position in Dropbox by 71.0% during the 1st quarter. Elequin Capital LP now owns 1,130 shares of the company's stock valued at $30,000 after acquiring an additional 469 shares during the period. Brooklyn Investment Group boosted its stake in Dropbox by 250.3% during the first quarter. Brooklyn Investment Group now owns 1,387 shares of the company's stock worth $37,000 after acquiring an additional 991 shares in the last quarter. Cullen Frost Bankers Inc. bought a new stake in Dropbox during the second quarter worth about $41,000. Finally, Employees Retirement System of Texas purchased a new stake in Dropbox in the second quarter worth about $53,000. Institutional investors own 94.84% of the company's stock.

Dropbox Stock Up 0.8%

NASDAQ:DBX opened at $29.94 on Thursday. The stock has a market cap of $7.75 billion, a price-to-earnings ratio of 16.92, a PEG ratio of 2.54 and a beta of 0.63. The company's 50 day moving average price is $29.56 and its 200-day moving average price is $28.89. Dropbox, Inc. has a 52 week low of $24.42 and a 52 week high of $33.33.

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Dropbox (NASDAQ:DBX - Get Free Report) last released its quarterly earnings data on Thursday, November 6th. The company reported $0.74 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.64 by $0.10. Dropbox had a negative return on equity of 49.51% and a net margin of 19.87%.The business had revenue of $634.40 million for the quarter, compared to analysts' expectations of $623.59 million. During the same period in the prior year, the firm posted $0.60 EPS. The firm's quarterly revenue was down .7% on a year-over-year basis. As a group, sell-side analysts anticipate that Dropbox, Inc. will post 1.64 earnings per share for the current year.

Insiders Place Their Bets

In related news, CEO Andrew Houston sold 101,167 shares of the stock in a transaction on Wednesday, October 1st. The stock was sold at an average price of $29.64, for a total transaction of $2,998,589.88. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Ashraf Alkarmi sold 10,098 shares of Dropbox stock in a transaction dated Tuesday, November 18th. The stock was sold at an average price of $29.18, for a total value of $294,659.64. Following the completion of the sale, the insider owned 435,810 shares of the company's stock, valued at $12,716,935.80. The trade was a 2.26% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 437,607 shares of company stock worth $13,037,237 over the last three months. Company insiders own 29.95% of the company's stock.

Analyst Ratings Changes

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Several research firms have recently issued reports on DBX. Wall Street Zen upgraded shares of Dropbox from a "hold" rating to a "buy" rating in a report on Saturday, November 8th. Royal Bank Of Canada raised their price objective on Dropbox from $35.00 to $38.00 and gave the company an "outperform" rating in a research report on Friday, November 7th. UBS Group cut Dropbox from a "neutral" rating to a "sell" rating and lowered their price objective for the company from $29.00 to $27.00 in a research note on Thursday, September 18th. Finally, Weiss Ratings reissued a "hold (c+)" rating on shares of Dropbox in a research note on Wednesday, October 8th. One investment analyst has rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company has a consensus rating of "Hold" and an average target price of $31.75.

View Our Latest Stock Report on DBX

About Dropbox

(Free Report)

Dropbox, Inc provides a content collaboration platform worldwide. 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 customers in professional services, technology, media, education, industrial, consumer and retail, and financial services industries.

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