Prudential PLC Lowers Holdings in Dropbox, Inc. (NASDAQ:DBX)

Prudential PLC cut its stake in Dropbox, Inc. (NASDAQ:DBX - Free Report) by 56.3% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 54,863 shares of the company's stock after selling 70,544 shares during the period. Prudential PLC's holdings in Dropbox were worth $1,648,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of the company. EverSource Wealth Advisors LLC lifted its position in Dropbox by 96.1% during the 4th quarter. EverSource Wealth Advisors LLC now owns 865 shares of the company's stock valued at $26,000 after acquiring an additional 424 shares during the period. Avion Wealth increased its stake in shares of Dropbox by 4,472.7% during the fourth quarter. Avion Wealth now owns 1,006 shares of the company's stock valued at $30,000 after purchasing an additional 984 shares in the last quarter. SBI Securities Co. Ltd. bought a new stake in shares of Dropbox in the 4th quarter worth approximately $40,000. Allworth Financial LP boosted its holdings in Dropbox by 33.5% in the fourth quarter. Allworth Financial LP now owns 1,456 shares of the company's stock worth $45,000 after acquiring an additional 365 shares in the last quarter. Finally, Huntington National Bank boosted its stake in Dropbox by 768.9% in the 4th quarter. Huntington National Bank now owns 1,538 shares of the company's stock worth $46,000 after purchasing an additional 1,361 shares in the last quarter. 94.84% of the stock is owned by institutional investors.

Dropbox Stock Down 1.8 %

DBX traded down $0.48 during mid-day trading on Friday, reaching $26.60. 1,349,735 shares of the company traded hands, compared to its average volume of 3,599,236. The stock has a market capitalization of $8.03 billion, a P/E ratio of 18.85, a P/E/G ratio of 1.70 and a beta of 0.75. Dropbox, Inc. has a 52-week low of $20.68 and a 52-week high of $33.33. The company's fifty day moving average price is $27.90 and its 200-day moving average price is $28.19.

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Dropbox (NASDAQ:DBX - Get Free Report) last posted its earnings results on Thursday, February 20th. The company reported $0.51 earnings per share for the quarter, missing analysts' consensus estimates of $0.62 by ($0.11). Dropbox had a net margin of 17.75% and a negative return on equity of 132.63%. The firm had revenue of $643.60 million during the quarter, compared to the consensus estimate of $638.61 million. As a group, sell-side analysts forecast that Dropbox, Inc. will post 1.64 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

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

Insider Transactions at Dropbox

In other news, CFO Timothy Regan sold 2,500 shares of Dropbox stock in a transaction dated Wednesday, January 15th. The stock was sold at an average price of $30.37, for a total transaction of $75,925.00. Following the transaction, the chief financial officer now directly owns 401,264 shares of the company's stock, valued at $12,186,387.68. The trade was a 0.62 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Andrew Houston sold 80,499 shares of the firm's stock in a transaction that occurred on Tuesday, January 21st. The stock was sold at an average price of $30.97, for a total transaction of $2,493,054.03. Following the sale, the chief executive officer now owns 8,266,666 shares in the company, valued at approximately $256,018,646.02. The trade was a 0.96 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 94,264 shares of company stock worth $2,895,324 in the last three months. Corporate insiders own 28.59% 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.