Proficio Capital Partners LLC Purchases Shares of 17,003 Dropbox, Inc. (NASDAQ:DBX)

Proficio Capital Partners LLC bought a new position in shares of Dropbox, Inc. (NASDAQ:DBX - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 17,003 shares of the company's stock, valued at approximately $511,000.

A number of other large investors have also recently made changes to their positions in the stock. Capital Performance Advisors LLP purchased a new position in Dropbox during the third quarter valued at approximately $28,000. Avion Wealth boosted its holdings in Dropbox by 4,472.7% in the 4th quarter. Avion Wealth now owns 1,006 shares of the company's stock valued at $30,000 after purchasing an additional 984 shares during the period. Allworth Financial LP grew its position in shares of Dropbox by 33.5% during the 4th 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. V Square Quantitative Management LLC increased its holdings in shares of Dropbox by 39.0% in the fourth quarter. V Square Quantitative Management LLC now owns 1,717 shares of the company's stock worth $52,000 after purchasing an additional 482 shares during the period. Finally, Fifth Third Bancorp raised its position in shares of Dropbox by 35.6% in the fourth quarter. Fifth Third Bancorp now owns 1,798 shares of the company's stock worth $54,000 after buying an additional 472 shares in the last quarter. 94.84% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

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

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Insider Activity at Dropbox

In other news, CEO Andrew Houston sold 500,323 shares of the firm's stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $29.65, for a total transaction of $14,834,576.95. Following 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 trade represents a 5.71 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Timothy Regan sold 10,000 shares of Dropbox stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $29.65, for a total value of $296,500.00. Following the completion of the transaction, the chief financial officer now owns 403,764 shares in the company, valued at approximately $11,971,602.60. This represents a 2.42 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 634,504 shares of company stock valued at $18,935,530. Corporate insiders own 28.59% of the company's stock.

Dropbox Price Performance

DBX stock traded down $0.75 during midday trading on Thursday, reaching $24.51. The company had a trading volume of 3,328,596 shares, compared to its average volume of 3,446,540. The firm has a 50-day moving average price of $29.87 and a 200-day moving average price of $27.87. The company has a market capitalization of $7.39 billion, a P/E ratio of 17.38, a P/E/G 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 announced its earnings results on Thursday, February 20th. The company reported $0.51 earnings per share (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 company had revenue of $643.60 million during the quarter, compared to analysts' expectations of $638.61 million. On average, equities 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.