Voya Investment Management LLC Decreases Holdings in Dropbox, Inc. (NASDAQ:DBX)

Voya Investment Management LLC cut its position in Dropbox, Inc. (NASDAQ:DBX - Free Report) by 2.7% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,243,599 shares of the company's stock after selling 63,250 shares during the quarter. Voya Investment Management LLC owned 0.72% of Dropbox worth $67,398,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in DBX. EverSource Wealth Advisors LLC grew its stake 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 in the last quarter. 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 worth $30,000 after buying an additional 984 shares during the period. SBI Securities Co. Ltd. acquired a new stake in shares of Dropbox in the 4th quarter valued at $40,000. Allworth Financial LP increased its holdings in shares of 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 buying an additional 365 shares in the last quarter. Finally, Huntington National Bank raised its holdings in shares of Dropbox by 768.9% in the fourth quarter. Huntington National Bank now owns 1,538 shares of the company's stock valued at $46,000 after buying an additional 1,361 shares during the last quarter. Institutional investors and hedge funds own 94.84% of the company's stock.

Dropbox Stock Performance

DBX traded down $0.17 on Monday, reaching $28.41. The company had a trading volume of 2,535,666 shares, compared to its average volume of 3,634,005. The stock has a market cap of $8.57 billion, a P/E ratio of 20.15, a P/E/G ratio of 1.70 and a beta of 0.75. The company's fifty day moving average is $26.78 and its 200 day moving average is $28.36. Dropbox, Inc. has a fifty-two week low of $20.68 and a fifty-two week high of $33.33.

Dropbox (NASDAQ:DBX - Get Free Report) last posted its quarterly 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). The firm 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%. On average, sell-side analysts expect that Dropbox, Inc. will post 1.64 EPS for the current year.

Insider Transactions at Dropbox

In other Dropbox news, insider Eric Cox sold 3,765 shares of the firm'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 sale, the insider now owns 309,550 shares of the company's stock, valued at $8,141,165. This trade represents a 1.20 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Timothy Regan sold 2,500 shares of the business's stock in a transaction dated Tuesday, April 15th. The stock was sold at an average price of $26.94, for a total value of $67,350.00. Following the transaction, the chief financial officer now directly owns 565,068 shares of the company's stock, valued at $15,222,931.92. The trade was a 0.44 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 13,765 shares of company stock valued at $393,695 over the last three months. Corporate insiders own 28.59% of the company's stock.

Analyst Ratings Changes

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 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.