Schroder Investment Management Group Sells 2,525,293 Shares of Dropbox, Inc. (NASDAQ:DBX)

Schroder Investment Management Group cut its stake in shares of Dropbox, Inc. (NASDAQ:DBX - Free Report) by 82.2% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 546,840 shares of the company's stock after selling 2,525,293 shares during the period. Schroder Investment Management Group owned about 0.18% of Dropbox worth $16,542,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the company. EverSource Wealth Advisors LLC boosted its position in Dropbox by 96.1% during the 4th quarter. EverSource Wealth Advisors LLC now owns 865 shares of the company's stock worth $26,000 after buying an additional 424 shares during the period. Avion Wealth lifted its holdings in shares of Dropbox by 4,472.7% during the fourth quarter. Avion Wealth now owns 1,006 shares of the company's stock worth $30,000 after purchasing an additional 984 shares during the period. SBI Securities Co. Ltd. bought a new stake in shares of Dropbox in the fourth quarter worth $40,000. Allworth Financial LP increased its holdings in Dropbox by 33.5% in the fourth quarter. Allworth Financial LP now owns 1,456 shares of the company's stock valued at $45,000 after purchasing an additional 365 shares during the period. Finally, V Square Quantitative Management LLC raised its position in Dropbox by 39.0% during the 4th 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 last quarter. 94.84% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

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

Remove Ads

Insider Buying and Selling at Dropbox

In related news, CFO Timothy Regan sold 2,500 shares of the stock in a transaction on Wednesday, January 15th. The stock was sold at an average price of $30.37, for a total value of $75,925.00. Following the transaction, the chief financial officer now directly owns 401,264 shares in the company, valued at $12,186,387.68. This trade represents a 0.62 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Andrew Houston sold 80,499 shares of the company's stock in a transaction dated 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 completion of the sale, the chief executive officer now owns 8,266,666 shares in the company, valued at $256,018,646.02. This represents a 0.96 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 94,264 shares of company stock valued at $2,895,324. Corporate insiders own 28.59% of the company's stock.

Dropbox Stock Performance

Shares of NASDAQ DBX traded down $0.04 during midday trading on Tuesday, reaching $25.42. The stock had a trading volume of 5,254,139 shares, compared to its average volume of 3,590,718. The firm has a market cap of $7.67 billion, a price-to-earnings ratio of 18.03, a price-to-earnings-growth ratio of 1.70 and a beta of 0.75. Dropbox, Inc. has a twelve month low of $20.68 and a twelve month high of $33.33. The company's 50 day moving average price is $28.18 and its 200 day moving average price is $28.16.

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