Intrepid Capital Management Inc. Increases Stock Position in Dropbox, Inc. (NASDAQ:DBX)

Intrepid Capital Management Inc. raised its holdings in Dropbox, Inc. (NASDAQ:DBX) by 0.6% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 181,632 shares of the company’s stock after buying an additional 1,072 shares during the quarter. Dropbox accounts for approximately 2.9% of Intrepid Capital Management Inc.’s holdings, making the stock its 8th biggest holding. Intrepid Capital Management Inc.’s holdings in Dropbox were worth $5,505,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in DBX. IndexIQ Advisors LLC raised its position in Dropbox by 8.8% in the 2nd quarter. IndexIQ Advisors LLC now owns 4,975 shares of the company’s stock valued at $151,000 after purchasing an additional 404 shares during the last quarter. Groesbeck Investment Management Corp NJ raised its position in Dropbox by 2.2% in the 2nd quarter. Groesbeck Investment Management Corp NJ now owns 27,870 shares of the company’s stock valued at $845,000 after purchasing an additional 600 shares during the last quarter. Elo Mutual Pension Insurance Co raised its position in Dropbox by 3.2% in the 1st quarter. Elo Mutual Pension Insurance Co now owns 23,152 shares of the company’s stock valued at $617,000 after purchasing an additional 721 shares during the last quarter. Berman Capital Advisors LLC raised its position in Dropbox by 286.8% in the 2nd quarter. Berman Capital Advisors LLC now owns 1,052 shares of the company’s stock valued at $31,000 after purchasing an additional 780 shares during the last quarter. Finally, B. Metzler seel. Sohn & Co. Holding AG raised its position in shares of Dropbox by 2.6% during the first quarter. B. Metzler seel. Sohn & Co. Holding AG now owns 31,508 shares of the company’s stock worth $840,000 after acquiring an additional 798 shares during the last quarter. 67.21% of the stock is currently owned by hedge funds and other institutional investors.

A number of research firms have issued reports on DBX. Royal Bank of Canada upped their target price on shares of Dropbox from $35.00 to $38.00 and gave the company an “outperform” rating in a research report on Friday, August 6th. TheStreet raised shares of Dropbox from a “d+” rating to a “c-” rating in a report on Monday, August 2nd. JMP Securities raised their price target on Dropbox from $37.00 to $39.00 and gave the stock a “market outperform” rating in a research report on Friday, August 6th. Jefferies Financial Group raised their target price on Dropbox from $38.00 to $40.00 and gave the stock a “buy” rating in a report on Friday, August 6th. Finally, Zacks Investment Research raised Dropbox from a “hold” rating to a “buy” rating and set a $36.00 price target for the company in a research note on Friday, August 13th. One analyst has rated the stock with a sell rating, one has given a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Buy” and an average price target of $35.80.

In other news, CFO Timothy Regan sold 1,868 shares of the stock in a transaction that occurred on Monday, July 26th. The stock was sold at an average price of $30.96, for a total transaction of $57,833.28. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, President Timothy H. Young sold 11,250 shares of the stock in a transaction that occurred on Monday, July 26th. The stock was sold at an average price of $30.80, for a total value of $346,500.00. The disclosure for this sale can be found here. Insiders have sold 63,129 shares of company stock valued at $1,966,792 over the last ninety days. 30.81% of the stock is owned by insiders.

DBX stock traded down $0.58 during mid-day trading on Monday, hitting $30.96. 45,949 shares of the company were exchanged, compared to its average volume of 5,905,420. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.84 and a current ratio of 1.84. Dropbox, Inc. has a 1-year low of $17.66 and a 1-year high of $33.00. The firm’s 50 day simple moving average is $31.28 and its 200 day simple moving average is $28.95. The firm has a market cap of $12.34 billion, a P/E ratio of -75.10 and a beta of 0.90.

Dropbox (NASDAQ:DBX) last posted its quarterly earnings data on Thursday, August 5th. The company reported $0.40 EPS for the quarter, beating the consensus estimate of $0.15 by $0.25. The business had revenue of $530.60 million for the quarter, compared to analysts’ expectations of $524.00 million. Dropbox had a negative net margin of 8.73% and a positive return on equity of 108.39%. On average, equities research analysts predict that Dropbox, Inc. will post 0.77 EPS for the current fiscal year.

Dropbox Profile

Dropbox, Inc is a collaboration platform that’s transforming the way people and teams work together. It offers following products: Dropbox Basic, Plus, Professional and Business. The Dropbox Basic is the simple, powerful home for photos, videos, docs, and other files. Its users also get access to new product Dropbox Paper, a collaborative workspace that helps teams create and share early ideas, and work with any type of content, in one centralized place.

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Institutional Ownership by Quarter for Dropbox (NASDAQ:DBX)

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