Twin Tree Management LP Has $90,000 Holdings in Dropbox, Inc. (NASDAQ:DBX)

Twin Tree Management LP cut its stake in Dropbox, Inc. (NASDAQ:DBX) by 95.6% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 3,720 shares of the company’s stock after selling 80,385 shares during the period. Twin Tree Management LP’s holdings in Dropbox were worth $90,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently modified their holdings of the company. DekaBank Deutsche Girozentrale increased its position in Dropbox by 65.8% in the fourth quarter. DekaBank Deutsche Girozentrale now owns 2,189,593 shares of the company’s stock worth $64,825,000 after purchasing an additional 869,043 shares during the period. AGF Management Ltd. bought a new position in shares of Dropbox in the 4th quarter valued at about $2,935,000. Charles Schwab Investment Management Inc. grew its position in shares of Dropbox by 3.4% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,990,186 shares of the company’s stock worth $88,151,000 after buying an additional 98,568 shares during the period. Susquehanna Fundamental Investments LLC bought a new stake in shares of Dropbox during the first quarter worth approximately $4,900,000. Finally, Seizert Capital Partners LLC lifted its holdings in Dropbox by 31.7% in the fourth quarter. Seizert Capital Partners LLC now owns 254,469 shares of the company’s stock valued at $7,502,000 after buying an additional 61,292 shares during the period. 94.84% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Dropbox news, CFO Timothy Regan sold 3,000 shares of Dropbox stock in a transaction that occurred on Monday, July 15th. The shares were sold at an average price of $22.76, for a total value of $68,280.00. Following the transaction, the chief financial officer now owns 535,122 shares of the company’s stock, valued at $12,179,376.72. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, insider Bart Volkmer sold 7,000 shares of the business’s stock in a transaction dated Monday, July 15th. The stock was sold at an average price of $22.76, for a total value of $159,320.00. Following the sale, the insider now directly owns 333,934 shares in the company, valued at $7,600,337.84. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Timothy Regan sold 3,000 shares of the stock in a transaction dated Monday, July 15th. The stock was sold at an average price of $22.76, for a total value of $68,280.00. Following the transaction, the chief financial officer now owns 535,122 shares of the company’s stock, valued at $12,179,376.72. The disclosure for this sale can be found here. In the last three months, insiders sold 293,536 shares of company stock valued at $6,665,491. 26.40% of the stock is owned by corporate insiders.

Dropbox Stock Down 0.5 %

DBX opened at $23.12 on Friday. The stock has a market cap of $7.63 billion, a P/E ratio of 15.31, a P/E/G ratio of 1.60 and a beta of 0.65. Dropbox, Inc. has a 12 month low of $20.68 and a 12 month high of $33.43. The company has a fifty day simple moving average of $22.41 and a 200 day simple moving average of $25.07.

Dropbox (NASDAQ:DBX) last posted its earnings results on Thursday, May 9th. The company reported $0.41 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.28 by $0.13. The firm had revenue of $631.30 million during the quarter, compared to analysts’ expectations of $628.81 million. Dropbox had a negative return on equity of 148.13% and a net margin of 20.50%. On average, equities research analysts expect that Dropbox, Inc. will post 1.26 earnings per share for the current fiscal year.

Analyst Ratings Changes

Separately, Citigroup lowered their target price on shares of Dropbox from $26.00 to $25.00 and set a “neutral” rating for the company in a report on Wednesday, June 26th. Three equities research analysts have rated the stock with a sell rating, four have issued a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $29.56.

Dropbox Company Profile

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.