Distillate Capital Partners LLC decreased its stake in shares of Dropbox, Inc. (NASDAQ:DBX - Free Report) by 22.2% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 507,452 shares of the company's stock after selling 144,563 shares during the period. Distillate Capital Partners LLC owned 0.16% of Dropbox worth $15,244,000 at the end of the most recent reporting period.
A number of other institutional investors also recently made changes to their positions in DBX. EverSource Wealth Advisors LLC boosted its position in Dropbox by 96.1% during the fourth quarter. EverSource Wealth Advisors LLC now owns 865 shares of the company's stock worth $26,000 after acquiring an additional 424 shares during the last quarter. Avion Wealth lifted its stake in shares of Dropbox by 4,472.7% during the 4th quarter. Avion Wealth now owns 1,006 shares of the company's stock worth $30,000 after purchasing an additional 984 shares during the period. SBI Securities Co. Ltd. acquired a new stake in shares of Dropbox during the fourth quarter worth $40,000. Allworth Financial LP grew its position in shares of Dropbox by 33.5% in the fourth quarter. Allworth Financial LP now owns 1,456 shares of the company's stock valued at $45,000 after purchasing an additional 365 shares during the period. Finally, Huntington National Bank increased its stake in Dropbox by 768.9% in the fourth 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 last quarter. 94.84% of the stock is owned by institutional investors and hedge funds.
Dropbox Trading Up 0.7 %
Shares of DBX traded up $0.19 during mid-day trading on Tuesday, reaching $26.93. The company had a trading volume of 3,088,725 shares, compared to its average volume of 3,614,786. Dropbox, Inc. has a fifty-two week low of $20.68 and a fifty-two week high of $33.33. The firm has a fifty day simple moving average of $27.57 and a 200-day simple moving average of $28.23. The stock has a market cap of $8.13 billion, a price-to-earnings ratio of 19.10, a price-to-earnings-growth ratio of 1.70 and a beta of 0.75.
Dropbox (NASDAQ:DBX - Get Free Report) last issued its earnings results on Thursday, February 20th. The company reported $0.51 earnings per share for the quarter, missing analysts' consensus estimates of $0.62 by ($0.11). The firm had revenue of $643.60 million during the quarter, compared to analyst estimates of $638.61 million. Dropbox had a net margin of 17.75% and a negative return on equity of 132.63%. As a group, equities analysts predict that Dropbox, Inc. will post 1.64 EPS for the current fiscal year.
Insider Activity at Dropbox
In other news, CFO Timothy Regan sold 2,500 shares of the firm's stock in a transaction on Friday, March 28th. The shares were sold at an average price of $26.57, for a total value of $66,425.00. Following the transaction, the chief financial officer now owns 367,791 shares of the company's stock, valued at approximately $9,772,206.87. This trade represents a 0.68 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Eric Cox sold 3,765 shares of Dropbox stock in a transaction on Thursday, February 27th. The shares were sold at an average price of $26.30, for a total transaction of $99,019.50. Following the transaction, the insider now owns 309,550 shares in the company, valued at $8,141,165. The trade was a 1.20 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 94,264 shares of company stock worth $2,895,324. Company insiders own 28.59% of the company's stock.
Wall Street Analyst Weigh In
Separately, Jefferies Financial Group lifted their price target on Dropbox from $27.00 to $30.00 and gave the company a "hold" rating in a report on Monday, January 6th.
Check Out Our Latest Stock Analysis 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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