Thrivent Financial for Lutherans Decreases Stock Holdings in Dropbox, Inc. (NASDAQ:DBX)

Thrivent Financial for Lutherans decreased its position in Dropbox, Inc. (NASDAQ:DBX - Free Report) by 98.8% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 58,386 shares of the company's stock after selling 4,731,265 shares during the period. Thrivent Financial for Lutherans' holdings in Dropbox were worth $1,312,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in DBX. Sound Income Strategies LLC purchased a new stake in Dropbox in the 1st quarter valued at approximately $28,000. GAMMA Investing LLC grew its holdings in Dropbox by 274.0% during the second quarter. GAMMA Investing LLC now owns 1,238 shares of the company's stock worth $28,000 after acquiring an additional 907 shares during the period. Fifth Third Bancorp grew its holdings in Dropbox by 548.8% during the second quarter. Fifth Third Bancorp now owns 1,382 shares of the company's stock worth $31,000 after acquiring an additional 1,169 shares during the period. Quarry LP purchased a new position in Dropbox in the fourth quarter worth $64,000. Finally, EntryPoint Capital LLC acquired a new stake in Dropbox in the first quarter valued at $65,000. 94.84% of the stock is currently owned by institutional investors and hedge funds.

Dropbox Price Performance

DBX traded down $0.16 during midday trading on Friday, reaching $25.37. 3,368,910 shares of the company's stock were exchanged, compared to its average volume of 3,837,785. Dropbox, Inc. has a 1-year low of $20.68 and a 1-year high of $33.43. The stock has a market capitalization of $8.38 billion, a PE ratio of 16.80, a P/E/G ratio of 1.55 and a beta of 0.61. The business's 50-day moving average price is $23.93 and its 200 day moving average price is $23.31.

Dropbox (NASDAQ:DBX - Get Free Report) last posted its earnings results on Thursday, August 8th. The company reported $0.60 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.52 by $0.08. Dropbox had a negative return on equity of 161.78% and a net margin of 23.06%. The firm had revenue of $634.50 million for the quarter, compared to analyst estimates of $630.10 million. During the same quarter in the prior year, the company earned $0.28 EPS. Dropbox's revenue was up 1.9% on a year-over-year basis. As a group, analysts expect that Dropbox, Inc. will post 1.31 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on DBX. UBS Group lowered their price target on shares of Dropbox from $30.00 to $28.00 and set a "buy" rating on the stock in a research note on Friday, August 9th. Citigroup dropped their target price on shares of Dropbox from $26.00 to $25.00 and set a "neutral" rating for the company in a report on Wednesday, June 26th. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the company. According to MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $28.67.

Insider Transactions at Dropbox

In other Dropbox news, CEO Andrew Houston sold 3,493 shares of the business's stock in a transaction on Thursday, September 19th. The stock was sold at an average price of $25.00, for a total value of $87,325.00. Following the completion of the transaction, the chief executive officer now directly owns 8,266,666 shares in the company, valued at approximately $206,666,650. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, CFO Timothy Regan sold 3,177 shares of the company's stock in a transaction dated Thursday, September 19th. The shares were sold at an average price of $25.00, for a total transaction of $79,425.00. Following the completion of the transaction, the chief financial officer now owns 481,747 shares of the company's stock, valued at $12,043,675. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Andrew Houston sold 3,493 shares of the firm's stock in a transaction that occurred on Thursday, September 19th. The stock was sold at an average price of $25.00, for a total transaction of $87,325.00. Following the completion of the sale, the chief executive officer now directly owns 8,266,666 shares in the company, valued at $206,666,650. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 464,952 shares of company stock worth $11,642,212 over the last ninety days. 26.40% of the stock is currently owned by corporate 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.