Wealth Enhancement Advisory Services LLC Invests $4.99 Million in Dropbox, Inc. (NASDAQ:DBX)

Wealth Enhancement Advisory Services LLC acquired a new stake in shares of Dropbox, Inc. (NASDAQ:DBX - Free Report) in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 196,124 shares of the company's stock, valued at approximately $4,987,000. Wealth Enhancement Advisory Services LLC owned 0.06% of Dropbox at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the company. Assenagon Asset Management S.A. raised its position in Dropbox by 0.4% in the third quarter. Assenagon Asset Management S.A. now owns 89,157 shares of the company's stock worth $2,267,000 after acquiring an additional 383 shares in the last quarter. iA Global Asset Management Inc. grew its position in Dropbox by 6.5% in the second quarter. iA Global Asset Management Inc. now owns 9,725 shares of the company's stock worth $219,000 after buying an additional 597 shares during the last quarter. Tobam increased its holdings in shares of Dropbox by 4.1% in the second quarter. Tobam now owns 19,642 shares of the company's stock valued at $441,000 after buying an additional 767 shares in the last quarter. Retirement Systems of Alabama lifted its position in shares of Dropbox by 0.3% during the 1st quarter. Retirement Systems of Alabama now owns 321,699 shares of the company's stock valued at $7,817,000 after acquiring an additional 845 shares during the last quarter. Finally, Quarry LP boosted its stake in shares of Dropbox by 81.1% during the 2nd quarter. Quarry LP now owns 1,965 shares of the company's stock worth $44,000 after acquiring an additional 880 shares in the last quarter. Institutional investors own 94.84% of the company's stock.

Dropbox Stock Performance

Shares of NASDAQ DBX traded up $0.13 during mid-day trading on Friday, reaching $25.98. The company had a trading volume of 2,172,893 shares, compared to its average volume of 3,700,727. Dropbox, Inc. has a twelve month low of $20.68 and a twelve month high of $33.43. The stock's 50 day moving average is $25.09 and its 200-day moving average is $23.59. The stock has a market capitalization of $8.45 billion, a PE ratio of 15.20, a price-to-earnings-growth ratio of 1.63 and a beta of 0.61.

Dropbox (NASDAQ:DBX - Get Free Report) last announced its quarterly earnings results on Thursday, August 8th. The company reported $0.60 EPS for the quarter, topping the consensus estimate of $0.52 by $0.08. Dropbox had a net margin of 23.06% and a negative return on equity of 161.78%. The company 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 business posted $0.28 EPS. Dropbox's quarterly revenue was up 1.9% on a year-over-year basis. On average, sell-side analysts anticipate that Dropbox, Inc. will post 1.31 EPS for the current year.

Analyst Ratings Changes

Separately, UBS Group reduced their target price on Dropbox from $30.00 to $28.00 and set a "buy" rating for the company in a report on Friday, August 9th. Two analysts have rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $28.67.

Insider Buying and Selling at Dropbox

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 approximately $12,043,675. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Dropbox news, CEO Andrew Houston sold 351,306 shares of the stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $25.12, for a total transaction of $8,824,806.72. Following the completion of the transaction, the chief executive officer now directly owns 8,266,666 shares in the company, valued at $207,658,649.92. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Timothy Regan sold 3,177 shares of the business's stock in a transaction on 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 sale, the chief financial officer now owns 481,747 shares in the company, valued at $12,043,675. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 459,952 shares of company stock worth $11,544,337 over the last ninety days. Company insiders own 26.40% of the company's stock.

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.