Proficio Capital Partners LLC Buys New Holdings in Dropbox, Inc. (NASDAQ:DBX)

Proficio Capital Partners LLC bought a new position in shares of Dropbox, Inc. (NASDAQ:DBX - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 17,003 shares of the company's stock, valued at approximately $511,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Jacobs Levy Equity Management Inc. lifted its holdings in shares of Dropbox by 6.2% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 6,239,493 shares of the company's stock valued at $158,670,000 after buying an additional 365,893 shares during the period. Geode Capital Management LLC lifted its position in shares of Dropbox by 0.6% during the 3rd quarter. Geode Capital Management LLC now owns 4,366,271 shares of the company's stock valued at $111,368,000 after buying an additional 25,893 shares in the last quarter. Charles Schwab Investment Management Inc. grew its position in shares of Dropbox by 4.2% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,914,005 shares of the company's stock valued at $87,537,000 after purchasing an additional 117,767 shares during the period. Retirement Systems of Alabama boosted its holdings in Dropbox by 15.2% in the 3rd quarter. Retirement Systems of Alabama now owns 944,033 shares of the company's stock worth $24,007,000 after buying an additional 124,528 shares during the last quarter. Finally, Glenmede Trust Co. NA increased its position in shares of Dropbox by 1.2% during the third quarter. Glenmede Trust Co. NA now owns 751,387 shares of the company's stock worth $19,108,000 after purchasing an additional 9,078 shares in the last quarter. Institutional investors and hedge funds own 94.84% of the company's stock.

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Analysts Set New Price Targets

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

Insiders Place Their Bets

In related news, insider Eric Cox sold 3,765 shares of the stock in a transaction dated Thursday, February 27th. The stock was sold at an average price of $26.30, for a total transaction of $99,019.50. Following the transaction, the insider now owns 309,550 shares of the company's stock, valued at approximately $8,141,165. This represents a 1.20 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Andrew Houston sold 500,323 shares of Dropbox stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $29.65, for a total value of $14,834,576.95. Following the completion of the transaction, the chief executive officer now directly owns 8,266,666 shares of the company's stock, valued at approximately $245,106,646.90. This represents a 5.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 634,504 shares of company stock valued at $18,935,530 over the last 90 days. 28.59% of the stock is owned by company insiders.

Dropbox Stock Up 0.4 %

NASDAQ:DBX traded up $0.11 on Thursday, hitting $26.94. The stock had a trading volume of 3,174,443 shares, compared to its average volume of 3,467,434. The company has a fifty day moving average price of $29.18 and a two-hundred day moving average price of $28.02. The stock has a market cap of $8.13 billion, a price-to-earnings ratio of 19.11, a PEG ratio of 1.70 and a beta of 0.77. Dropbox, Inc. has a 1-year low of $20.68 and a 1-year high of $33.33.

Dropbox (NASDAQ:DBX - Get Free Report) last issued its quarterly earnings data on Thursday, February 20th. The company reported $0.51 earnings per share 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 during the quarter, compared to analysts' expectations of $638.61 million. As a group, analysts anticipate that Dropbox, Inc. will post 1.64 earnings per share for the current year.

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.