Thrivent Financial for Lutherans Trims Position in Dropbox, Inc. (NASDAQ:DBX)

Thrivent Financial for Lutherans cut its position in Dropbox, Inc. (NASDAQ:DBX - Free Report) by 20.4% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 52,374 shares of the company's stock after selling 13,397 shares during the period. Thrivent Financial for Lutherans' holdings in Dropbox were worth $1,573,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Corient Private Wealth LLC raised its stake in Dropbox by 164.3% during the 4th quarter. Corient Private Wealth LLC now owns 26,585 shares of the company's stock valued at $798,000 after purchasing an additional 16,527 shares during the period. Commonwealth Equity Services LLC bought a new stake in shares of Dropbox during the fourth quarter valued at approximately $201,000. Skandinaviska Enskilda Banken AB publ raised its position in shares of Dropbox by 3.9% during the fourth quarter. Skandinaviska Enskilda Banken AB publ now owns 42,638 shares of the company's stock valued at $1,291,000 after buying an additional 1,585 shares during the last quarter. Vestcor Inc lifted its holdings in shares of Dropbox by 163.4% in the fourth quarter. Vestcor Inc now owns 114,750 shares of the company's stock worth $3,447,000 after buying an additional 71,178 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. grew its stake in Dropbox by 20.7% during the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 537,875 shares of the company's stock valued at $16,158,000 after acquiring an additional 92,139 shares in the last quarter. 94.84% of the stock is owned by hedge funds and other institutional investors.

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Wall Street Analysts Forecast Growth

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

Dropbox Stock Performance

Shares of DBX traded down $0.64 during mid-day trading on Thursday, hitting $26.83. 4,443,099 shares of the stock were exchanged, compared to its average volume of 3,564,231. The company has a market cap of $8.10 billion, a PE ratio of 19.03, a price-to-earnings-growth 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 firm has a 50-day moving average of $28.71 and a two-hundred day moving average of $28.11.

Dropbox (NASDAQ:DBX - Get Free Report) last released its quarterly earnings data 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 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, sell-side analysts predict that Dropbox, Inc. will post 1.64 EPS for the current year.

Insider Activity at Dropbox

In other Dropbox news, CEO Andrew Houston sold 80,499 shares of the business'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 completion of the transaction, the chief executive officer now owns 8,266,666 shares in the company, valued at $256,018,646.02. The trade was a 0.96 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Timothy Regan sold 2,500 shares of the stock in a transaction that occurred 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 completion of the sale, the chief financial officer now owns 401,264 shares in the company, valued at approximately $12,186,387.68. The trade was a 0.62 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 124,181 shares of company stock worth $3,794,928. Company 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.