Raymond James Financial Inc. purchased a new stake in Dropbox, Inc. (NASDAQ:DBX - Free Report) during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 83,588 shares of the company's stock, valued at approximately $2,511,000.
A number of other hedge funds have also bought and sold shares of the business. Avion Wealth lifted its position in shares of Dropbox by 4,472.7% during the 4th quarter. Avion Wealth now owns 1,006 shares of the company's stock valued at $30,000 after acquiring an additional 984 shares during the period. SBI Securities Co. Ltd. bought a new stake in Dropbox during the fourth quarter worth about $40,000. Allworth Financial LP lifted its position in Dropbox by 33.5% during the fourth quarter. Allworth Financial LP now owns 1,456 shares of the company's stock worth $45,000 after purchasing an additional 365 shares during the period. V Square Quantitative Management LLC grew its stake in Dropbox by 39.0% during the fourth quarter. V Square Quantitative Management LLC now owns 1,717 shares of the company's stock worth $52,000 after buying an additional 482 shares in the last quarter. Finally, Vision Financial Markets LLC bought a new position in Dropbox in the 4th quarter valued at about $53,000. 94.84% of the stock is owned by institutional investors.
Dropbox Stock Up 1.1 %
Shares of DBX traded up $0.29 during midday trading on Wednesday, hitting $27.47. The company's stock had a trading volume of 3,368,166 shares, compared to its average volume of 3,558,949. Dropbox, Inc. has a one year low of $20.68 and a one year high of $33.33. The stock has a market capitalization of $8.29 billion, a price-to-earnings ratio of 19.48, a price-to-earnings-growth ratio of 1.70 and a beta of 0.77. The company's fifty day simple moving average is $28.80 and its two-hundred day simple moving average is $28.12.
Dropbox (NASDAQ:DBX - Get Free Report) last released its earnings results on Thursday, February 20th. The company reported $0.51 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.62 by ($0.11). The business had revenue of $643.60 million during the quarter, compared to the consensus estimate of $638.61 million. Dropbox had a net margin of 17.75% and a negative return on equity of 132.63%. On average, research analysts predict that Dropbox, Inc. will post 1.64 earnings per share for the current year.
Insider Activity at Dropbox
In related news, CEO Andrew Houston sold 500,323 shares of the business's stock in a transaction on 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 sale, the chief executive officer now owns 8,266,666 shares in the company, valued at $245,106,646.90. The trade was a 5.71 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Eric Cox sold 3,765 shares of the company's stock in a transaction dated Thursday, February 27th. The stock was sold at an average price of $26.30, for a total value of $99,019.50. Following the completion of the transaction, the insider now directly owns 309,550 shares of the company's stock, valued at approximately $8,141,165. The trade was a 1.20 % 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 $18,926,005. 28.59% of the stock is owned by insiders.
Wall Street Analysts Forecast Growth
Separately, Jefferies Financial Group upped their price target on shares of Dropbox from $27.00 to $30.00 and gave the stock a "hold" rating in a report on Monday, January 6th.
Check Out Our Latest Research Report on DBX
About Dropbox
(
Free Report)
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.
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