Abacus FCF Advisors LLC Increases Stock Position in Dropbox, Inc. (NASDAQ:DBX)

Abacus FCF Advisors LLC increased its holdings in Dropbox, Inc. (NASDAQ:DBX - Free Report) by 46.5% in the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 79,646 shares of the company's stock after buying an additional 25,296 shares during the quarter. Abacus FCF Advisors LLC's holdings in Dropbox were worth $2,393,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of the business. EverSource Wealth Advisors LLC lifted its holdings in shares of Dropbox by 96.1% during the 4th quarter. EverSource Wealth Advisors LLC now owns 865 shares of the company's stock valued at $26,000 after buying an additional 424 shares during the period. Avion Wealth increased its position in Dropbox by 4,472.7% during the fourth quarter. Avion Wealth now owns 1,006 shares of the company's stock valued at $30,000 after acquiring an additional 984 shares during the last quarter. SBI Securities Co. Ltd. bought a new position in Dropbox in the fourth quarter valued at about $40,000. Allworth Financial LP boosted its position in Dropbox by 33.5% in the fourth quarter. Allworth Financial LP now owns 1,456 shares of the company's stock worth $45,000 after purchasing an additional 365 shares during the last quarter. Finally, Huntington National Bank grew its stake in shares of Dropbox by 768.9% during the 4th quarter. Huntington National Bank now owns 1,538 shares of the company's stock valued at $46,000 after purchasing an additional 1,361 shares during the period. Hedge funds and other institutional investors own 94.84% of the company's stock.

Wall Street Analysts Forecast Growth

Separately, Jefferies Financial Group increased their price objective on shares of Dropbox from $27.00 to $30.00 and gave the stock a "hold" rating in a research note on Monday, January 6th.

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Dropbox Stock Performance

Shares of NASDAQ:DBX remained flat at $27.08 during midday trading on Friday. The stock had a trading volume of 4,029,025 shares, compared to its average volume of 3,615,884. Dropbox, Inc. has a 52-week low of $20.68 and a 52-week high of $33.33. The business has a 50-day simple moving average of $27.80 and a two-hundred day simple moving average of $28.23. The firm has a market cap of $8.17 billion, a P/E ratio of 19.21, a price-to-earnings-growth ratio of 1.70 and a beta of 0.75.

Dropbox (NASDAQ:DBX - Get Free Report) last issued its quarterly earnings results on Thursday, February 20th. The company reported $0.51 EPS for the quarter, missing analysts' consensus estimates of $0.62 by ($0.11). Dropbox had a negative return on equity of 132.63% and a net margin of 17.75%. The company had revenue of $643.60 million during the quarter, compared to analysts' expectations of $638.61 million. On average, equities analysts expect that Dropbox, Inc. will post 1.64 earnings per share for the current year.

Insiders Place Their Bets

In other news, CFO Timothy Regan sold 2,500 shares of the business's stock in a transaction dated Friday, March 28th. The stock was sold at an average price of $26.57, for a total value of $66,425.00. Following the transaction, the chief financial officer now directly owns 367,791 shares in the company, valued at $9,772,206.87. The trade was a 0.68 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Andrew Houston sold 80,499 shares of the stock in a transaction dated Tuesday, January 21st. The stock was sold at an average price of $30.97, for a total value of $2,493,054.03. Following the sale, the chief executive officer now owns 8,266,666 shares of the company's stock, valued at $256,018,646.02. This represents a 0.96 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 94,264 shares of company stock worth $2,895,324 over the last three months. 28.59% of the stock is currently owned by company insiders.

About Dropbox

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.