Intrepid Capital Management Inc. Reduces Position in Dropbox, Inc. (NASDAQ:DBX)

Intrepid Capital Management Inc. cut its position in Dropbox, Inc. (NASDAQ:DBX - Free Report) by 49.0% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 61,891 shares of the company's stock after selling 59,438 shares during the period. Intrepid Capital Management Inc.'s holdings in Dropbox were worth $1,859,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. 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 in the last quarter. Heron Bay Capital Management increased its stake in shares of Dropbox by 2.3% in the 4th quarter. Heron Bay Capital Management now owns 16,769 shares of the company's stock worth $504,000 after acquiring an additional 378 shares during the last quarter. EverSource Wealth Advisors LLC raised 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 worth $26,000 after acquiring an additional 424 shares during the period. Quarry LP boosted its position in shares of Dropbox by 23.4% during 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 during the last quarter. Finally, Aaron Wealth Advisors LLC grew its holdings in shares of Dropbox by 4.8% in the fourth quarter. Aaron Wealth Advisors LLC now owns 10,151 shares of the company's stock valued at $305,000 after purchasing an additional 461 shares during the period. Hedge funds and other institutional investors own 94.84% of the company's stock.

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Insider Buying and Selling at Dropbox

In related news, CEO Andrew Houston sold 80,499 shares of Dropbox stock in a transaction on 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 completion of the transaction, the chief executive officer now directly owns 8,266,666 shares in the company, valued at approximately $256,018,646.02. This trade represents a 0.96 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Timothy Regan sold 2,500 shares of the company's stock in a transaction dated Friday, February 7th. The stock was sold at an average price of $32.19, for a total value of $80,475.00. Following the sale, the chief financial officer now owns 396,264 shares in the company, valued at approximately $12,755,738.16. This trade represents a 0.63 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 124,181 shares of company stock valued at $3,794,928 in the last three months. 28.59% of the stock is owned by corporate insiders.

Analyst Ratings Changes

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

Dropbox Trading Down 5.1 %

NASDAQ DBX traded down $1.38 during trading hours on Friday, reaching $25.45. The company had a trading volume of 5,351,199 shares, compared to its average volume of 3,571,323. The stock has a 50-day moving average of $28.71 and a 200 day moving average of $28.11. Dropbox, Inc. has a 1-year low of $20.68 and a 1-year high of $33.33. The stock has a market capitalization of $7.68 billion, a P/E ratio of 18.05, a price-to-earnings-growth ratio of 1.70 and a beta of 0.75.

Dropbox (NASDAQ:DBX - Get Free Report) last released 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 firm had revenue of $643.60 million for the quarter, compared to analyst estimates of $638.61 million. As a group, sell-side analysts predict that Dropbox, Inc. will post 1.64 EPS for the current year.

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.