Dropbox, Inc. (NASDAQ:DBX) Shares Bought by Paralel Advisors LLC

Paralel Advisors LLC boosted its position in shares of Dropbox, Inc. (NASDAQ:DBX - Free Report) by 10.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 103,320 shares of the company's stock after buying an additional 9,384 shares during the period. Paralel Advisors LLC's holdings in Dropbox were worth $3,104,000 at the end of the most recent quarter.

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

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Wall Street Analyst Weigh In

Separately, Jefferies Financial Group boosted their price objective on Dropbox from $27.00 to $30.00 and gave the company a "hold" rating in a report on Monday, January 6th.

Dropbox Stock Up 0.9 %

Dropbox stock traded up $0.25 during mid-day trading on Tuesday, reaching $26.99. 890,369 shares of the company's stock were exchanged, compared to its average volume of 3,604,616. Dropbox, Inc. has a twelve month low of $20.68 and a twelve month high of $33.33. The company has a market cap of $8.14 billion, a P/E ratio of 19.14, a P/E/G ratio of 1.70 and a beta of 0.75. The company has a fifty day moving average of $27.68 and a 200-day moving average of $28.24.

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

Insider Buying and Selling

In other news, CFO Timothy Regan sold 2,500 shares of Dropbox stock in a transaction dated Wednesday, January 15th. The stock was sold at an average price of $30.37, for a total transaction of $75,925.00. Following the sale, the chief financial officer now owns 401,264 shares in the company, valued at approximately $12,186,387.68. The trade was a 0.62 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Eric Cox sold 3,765 shares of the stock in a transaction that occurred on Thursday, February 27th. The shares were sold at an average price of $26.30, for a total value of $99,019.50. Following the completion of the sale, the insider now directly owns 309,550 shares of the company's stock, valued at $8,141,165. The trade was a 1.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 94,264 shares of company stock worth $2,895,324 over the last 90 days. 28.59% of the stock is owned by insiders.

Dropbox 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.