Franklin Resources Inc. lowered its position in Dropbox, Inc. (NASDAQ:DBX - Free Report) by 67.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 756,441 shares of the company's stock after selling 1,603,088 shares during the period. Franklin Resources Inc. owned 0.24% of Dropbox worth $22,723,000 at the end of the most recent reporting period.
A number of other institutional investors also recently modified their holdings of the company. HighTower Advisors LLC raised its holdings in shares of Dropbox by 68.2% in the third quarter. HighTower Advisors LLC now owns 26,576 shares of the company's stock valued at $683,000 after buying an additional 10,777 shares during the last quarter. Quarry LP increased its position in Dropbox by 23.4% in the 3rd quarter. Quarry LP now owns 2,424 shares of the company's stock valued at $62,000 after acquiring an additional 459 shares in the last quarter. Weiss Asset Management LP bought a new position in shares of Dropbox in the third quarter worth about $1,006,000. Orion Portfolio Solutions LLC acquired a new position in shares of Dropbox during the third quarter worth approximately $688,000. Finally, M&T Bank Corp bought a new stake in shares of Dropbox during the third quarter valued at approximately $229,000. Institutional investors own 94.84% of the company's stock.
Analyst Ratings Changes
Separately, Jefferies Financial Group boosted their price objective on shares of Dropbox from $27.00 to $30.00 and gave the stock a "hold" rating in a research report on Monday, January 6th.
Read Our Latest Research Report on Dropbox
Insider Buying and Selling at Dropbox
In related news, CEO Andrew Houston sold 80,499 shares of Dropbox stock in a transaction that occurred on Tuesday, January 21st. The shares were sold at an average price of $30.97, for a total transaction of $2,493,054.03. Following the transaction, the chief executive officer now owns 8,266,666 shares of the company's stock, valued at $256,018,646.02. This trade represents a 0.96 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Timothy Regan sold 2,500 shares of the business's stock in a transaction that occurred on Wednesday, January 15th. The shares were sold at an average price of $30.37, for a total transaction of $75,925.00. Following the transaction, the chief financial officer now owns 401,264 shares of the company's stock, valued at approximately $12,186,387.68. This represents a 0.62 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 94,264 shares of company stock worth $2,895,324. Insiders own 28.59% of the company's stock.
Dropbox Stock Performance
DBX stock remained flat at $27.08 during midday trading on Friday. The company had a trading volume of 4,029,025 shares, compared to its average volume of 3,613,920. The company has a market capitalization of $8.17 billion, a price-to-earnings ratio of 19.21, a price-to-earnings-growth ratio of 1.70 and a beta of 0.75. Dropbox, Inc. has a 1 year low of $20.68 and a 1 year high of $33.33. The business's fifty day moving average price is $27.80 and its two-hundred day moving average price is $28.21.
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 the consensus estimate of $0.62 by ($0.11). Dropbox had a negative return on equity of 132.63% and a net margin of 17.75%. The business had revenue of $643.60 million for the quarter, compared to analyst estimates of $638.61 million. Equities analysts anticipate that Dropbox, Inc. will post 1.64 EPS for the current year.
Dropbox Profile
(
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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